Lanco Infratech
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Lanco Infratech (Lagadapati Amarappa Naidu and Company Infratech) was a large
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
n conglomerate that became insolvent in 2017. It was involved in construction, power, real estate, and several other segments. One of the first Independent Power Producers (IPP) in India, in 2011 it became the largest private power provider in India.


History

Lanco was founded by Lagadapati Amarappa Naidu and his nephew Lagadapati Rajagopal, who was a member of
15th Lok Sabha Members of the 15th Lok Sabha were elected during the 2009 general election in India. It was dissolved on 18 May 2014 by President Pranab Mukherjee. Indian National Congress-led United Progressive Alliance won 44 more seats than the previou ...
representing
Vijayawada Vijayawada, formerly known as Bezawada, is the second largest city in the Indian state of Andhra Pradesh and is a part of the state's Capital Region. It is the administrative headquarters of the NTR district. Its metropolitan region comprises NT ...
from Indian National Congress. Initial growth was driven by large contracts primarily in construction. Later, other infrastructure areas such as power generation, transportation were also added. In 2017 the company became insolvent.


Former major operational power plants

* 2 × 300 MW Lanco Amarkantak Power Limited – Two units of 300 MW commissioned. In
Korba District Korba District is an administrative district of Chhattisgarh state in central India. The headquarter of this district is Korba. History The district is named for the Korwa tribe that inhabits the northern part of Chhattisgarh. Korba was fo ...
, Bilaspur Division,
Chhattisgarh Chhattisgarh (, ) is a landlocked state in Central India. It is the ninth largest state by area, and with a population of roughly 30 million, the seventeenth most populous. It borders seven states – Uttar Pradesh to the north, Madhya Prade ...
,
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
,
South Asia South Asia is the southern subregion of Asia, which is defined in both geographical and ethno-cultural terms. The region consists of the countries of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.;;;;;;;; ...
,
Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...
,
Earth Earth is the third planet from the Sun and the only astronomical object known to harbor life. While large volumes of water can be found throughout the Solar System, only Earth sustains liquid surface water. About 71% of Earth's surfa ...
* 2 × 600 MW Lanco Anpara Power Limited – One unit of 600 MW commissioned in December 2011 and second unit of 600 MW was commissioned in January 2012. The power plant is located in
Sonebhadra district Sonbhadra or ''Sonebhadra'' is the second largest district by area of Uttar Pradesh after Lakhimpur Kheri. It is the only district in India which borders four states, namely Madhya Pradesh to the west, Chhattishgarh to the south, Jharkhand in t ...
of
Uttar Pradesh Uttar Pradesh (; , 'Northern Province') is a state in northern India. With over 200 million inhabitants, it is the most populated state in India as well as the most populous country subdivision in the world. It was established in 1950 ...
. * 2 × 600 MW Udupi Power Corp. Limited – Commissioned in 2012, the power plant is located in
Udupi district Udupi district (also Udipi or Odipu in Tulu language) is an administrative subdivision in the Karnataka state of India, with the district headquarters in the city of Udupi. It is situated in the Canara coastal region, there are seven taluks, ...
,
Karnataka Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnat ...
. On 14 August 2014, Adani Power acquired the plant. * 1466 MW Lanco Kondapalli Power Limited – Gas based Combined Cycle Power Plant located at
Kondapalli Kondapalli is a industrial and residential hub located in western part of Vijayawada in the Indian state of Andhra Pradesh. It is a municipality in Ibrahimpatnam mandal in Vijayawada revenue division of NTR district. It is closest to Ibrahimp ...
Industrial Development Area near
Vijayawada Vijayawada, formerly known as Bezawada, is the second largest city in the Indian state of Andhra Pradesh and is a part of the state's Capital Region. It is the administrative headquarters of the NTR district. Its metropolitan region comprises NT ...
in
Andhra Pradesh Andhra Pradesh (, abbr. AP) is a state in the south-eastern coastal region of India. It is the seventh-largest state by area covering an area of and tenth-most populous state with 49,386,799 inhabitants. It is bordered by Telangana to the ...
. * 120 MW Lanco Tanjore Power Company Ltd – Gas based Combined Cycle Power Plant located at Karuppur village of
Tanjore district Thanjavur District is one of the Districts of Tamil Nadu, 38 districts of the States and territories of India, state of Tamil Nadu, in southeastern India. Its headquarters is Thanjavur. The district is located in the delta of the Cauvery River ...
, situated around from
Chennai Chennai (, ), formerly known as Madras ( the official name until 1996), is the capital city of Tamil Nadu, the southernmost Indian state. The largest city of the state in area and population, Chennai is located on the Coromandel Coast of th ...
, Tamil Nadu. * 20 MW Hydro Power Plants Major Power Projects under construction were: * 2 × 660 MW extension of Lanco Amarkantak Power Limited * 2 × 660 MW Lanco Vidarbha Thermal Power Limited * 2 × 660 MW Lanco Babandh Power Limited * 4 × 125 MW Lanco Teesta Hydro Power Pvt Ltd * 2 × 76 MW Lanco Mandakini Hydro Energy Pvt Ltd * Turnkey EPC for 100MW solar thermal project for KVK Energy in Rajasthan. * Complete EPC for a 75 MW crystalline technology-based PhotoVoltaic solar power project in Dhule, Maharashtra, for Maharashtra State Power Generation Co Ltd
Mahagenco The Mahanirmiti or Mahagenco (Maharashtra State Power Generation Company Limited - MSPGCL) formerly known as MSEB (Maharashtra State Electricity Board) is a major power generating company in the state of Maharashtra, India and a wholly owned su ...
.


Debt restructuring

In December 2006, the company won a large contract citing collaboration with Singapore firm Globeleq. In 2007, after winning the bid for the 1000 MW Anpara-C power plant, Lanco requested that the power output be re-negotiated. Some competing firms protested since the re-negotiation made the initial bidding meaningless. However, Lanco managed to retain the Anpara project. In June 2013, Lanco had won a contract for setting up two 300 MW power plants in Gujarat. However, the contract was cancelled in October 2013, when the company failed to put up the 10% guarantee required in the contract. By July 2013, the company had filed for
debt restructuring Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue ...
, citing a business slowdown. In September, it was revealed that the company had reduced its workforce by nearly half. Repeatedly tarnished by charges of corrupt practices the company ran into financial trouble and filed for corporate
debt restructuring Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue ...
in July 2013. In late 2017 the company faced insolvency proceedings, with the
National Company Law Tribunal The National Company Law Tribunal is a quasi-judicial body in India that adjudicates issues relating to Indian companies. The tribunal was established under the Companies Act 2013 and was constituted on 1 June 2016 by the government of India an ...
suspending the board.


References

{{Reflist Defunct electric power companies of India Conglomerate companies established in 1986 1986 establishments in Delhi Indian companies established in 1986 Indian companies disestablished in 2017