Lanco Infratech today said that one of its subsidiaries would raise debt worth Rs 5,550 crore to finance its upcoming coal-based power projects in Chhattisgarh.
The debt would be raised for Lanco Power's project, which is estimated to cost Rs 6,941 crore.
The fund would be used for 1,320 MW (2 X 660) coal based power units, III & IV, in Chhattisgarh, Lanco Infratech said in a regulatory filing.
"The project estimated to cost Rs 6,941 crore, would be financed with debt of Rs 5,550 crore and equity of Rs 1,391 crore," it said.
Led by Power Finance Corp, a consortium of 10 banks and financial institutions would be providing the debt required for the project, it added.
