HomeWorld RegionsAsiaLanco Infratech to raise $2bn for 2640 MW India projects

Lanco Infratech to raise $2bn for 2640 MW India projects

Indian engineering and construction firm Lanco Infratech aims to raise $2bn from Chinese banks and financial institutions to fund two power projects in north India.

China Development Bank, which is to lend $600m, will lead the fundraising, said Lanco Infratech in a statement on 26 November.

Lanco Infratech plant

Funds will be used on two power projects totalling 2640 MW in the north Indian state of Uttar Pradesh.

The fundraising is expected to complete by year-end, a Lanco official told Reuters.

Chinese bank loans to Indian power companies usually involve the purchase of Chinese-made equipment.

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