Lanco Infra subsidiary gets sanction for power project debt

NEW DELHI - Infrastructure firm Lanco Infratech Monday said its subsidiary Lanco Vidarbha Thermal Power has tied up the debt requirement for developing a 1,320 MW thermal power project in Maharashtra.

The project is estimated to cost Rs.6,936 crore and would be financed with debt of Rs.5,549 crore and equity of Rs.1,387 crore, the company said in a regulatory filing.

A consortium of 16 Banks and financial institutions led by Punjab National Bank will provide the debt required for the project, it added.