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Lanco Infratech gets sanction for 732 MW power project in Andhra Pradesh

New Delhi, Oct 12 (Calcutta Tube) Lanco Infratech Tuesday said its subsidiary Lonco Kondapalli Power Private Ltd has received sanction for a total debt of Rs.2,610 crore for the 732 MW power project in Andhra Pradesh.

‘The project, estimated to cost Rs.2,610 crore, would be financed with a debt of Rs.1,827 crore and internal accruals of Rs.783 crore,’ the company said in a regulatory filing.

Axis Bank will lead the consortium of banks and financial institutions who have agreed to provide the debt required for the project.

At the Bombay Stock Exchange, the shares of the company declined 1.93 percent at Rs.68.65 around noon.

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