Lanco Infratech gets Rs. 365cr contract in Iraq

Mumbai : Lanco Infratech gets Rs. 365cr contract in Iraq Making its aggressive foray in the offshore market, Lanco Infratech Limited, for the first time has secured a 2x125mw AKAZ power plant contract in Al-Anbar province involving an investment of Rs. 365.28cr. The company, which has already initiated the process of building the power project, has targeted to commission the plant in the next 16 months. The scope of work includes complete engineering, procurement and construction (EPC) of an open cycle gas based power plant with two gas turbine generators supplied by General Electric International, Inc. According to the Chief Executive Officer, S C Manocha, the company has decided to increase its EPC business for third parties and has already initiated the process in the last fiscal and in its first year of operation it has already secured contracts worth Rs. 6,000cr amounting to 20 percent of the company's combined business of Rs. 30,900cr as on March 31, 2011. In fact, the company's business mix is likely to undergo change due to growing focus on EPC contracts from within and outside the country. In most of the offshore contracts Bangladesh, Indonesia and West Asia are likely to play a larger role over the next few quarters.