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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is also evaluating coal properties with sizeable reserves in Indonesia, Australia and South Africa, its chief financial officer J Suresh Kumar said on Tuesday.
At present, the company has one imported-coal based project - Udupi Power Project - in Karnataka, which would be completed in the last quarter of financial year 2011. Debt and equity funds estimated at Rs 4342 crore for the 1,015-mw project have been arranged by a consortium of 14 banks and financial institutions led by Power Finance Corporation.
Kumar said the company was evaluating opportunities to set up more such projects of same capacity. Lanco has lined up capacity addition targets of 15,000 mw during next five years. Lanco Infratech’s operating power capacity more than doubled to 1,349 mw during last financial year. Its total operating and under-construction power portfolio stands at 9,300-mw.
Lanco also figures among the power generators who are on look out for fuel in coal-rich nations like Australia, South Africa and Indonesia. NTPC has appointed three merchant bankers for due-diligence on acquisition of coalmines in Indonesia. Country’s largest private power producer Tata Power has a stake in two Indonesian coal companies.
The company on Tuesday announced a 63.5 per cent growth in profit after tax to Rs 458.6 crore in 2009-10 from Rs 280.4 crore in 2008-09.
The net profit for fourth quarter ended March 31, 2010 went up by 26 per cent to Rs 113.3 crore from Rs 89.9 crore during the corresponding period previous financial year.
Kumar said the rise in profits was due to company’s good performance in power business. “The company added 800-mw of operating capacity in the previous fiscal a good chunk of which was sold as merchant power at an average tariff of Rs 4 – Rs 4.50 per unit.” Lanco Infratech expects to add 2,600-mw to its generating capacity in the present financial year.
Commenting on the company’s performance, Lanco Infratech chairman L Madhusudhan Rao said, “With power generation and construction & EPC as our strengths, we are also exploring opportunities in roads, transmission, distribution and other emerging infrastructure sectors.”
Source: My Digital FC ( By Sarita C Singh )
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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- The University of Queensland
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- PowerSource Philippines DevCo
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- Baramulti Group, Indonesia
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