Diversified group Lanco Infratech today said it is in talks with investors for selling stake in Griffin Coal Mine in Australia as well as in road projects.
Faced with tough business conditions, Lanco Infratech has been looking to sell some of its assets as part of efforts to pare debt.
In a regulatory filing, the company said that as part of medium and long term strategies, "discussions are in progress with some strategic/ financial investors for stake sale in road projects and Griffin Coal Mine".
"The said discussions are in preliminary stage and nothing definitive action is in process," the firm said in a regulatory filing.
Lanco Infratech had acquired Griffin Coal Mine in 2011. Griffin currently mines around 4 million tons per annum and from the present level, the production is planned to be ramped up to around 18 MTPA by 2018, according to its website.
