India?s Lanco Group to buy coal mines in Indonesia: Report

Lanco Group, a diversified multinational conglomerate based in Hyderabad, India, is planning to acquire coal mines in Indonesia for meeting the requirements of its power projects.

The group's international consultants have already shortlisted some of the mines in this regard, group chairman, L Madhusudhan Rao, told the Business Standard of India on Tuesday.

The group, which recently entered the business of power trading, had targeted to have an installed capacity of 10,000 MW of gas, coal and hydel power projects spread across the country by 2015, Rao said.

Currently, the group is producing 509 MW of power through five power projects. These include 368 MW gas-based Lanco Kondapalli Power, 120 MW combined cycle ABAN Power Company ,a 3-MW wind power project and two biomass-based power projects of 12 MW and 6 MW.

This apart, the company is setting up Lanco Amarkantak Power, a 1,200-MW coal-based power project, and 800 MW hydel power projects in Sikkim and Himachal Pradesh. "By 2010, we will have an installed capacity of 2,750 MW," Rao said. (*)