Lanco Infratech will acquire Australia based Griffin Coal Mining and Carpenter Mine Management (Griffin Coal). The company will acquire the coal mining asset through its subsidiary Lanco Resources Australia. The deal was worth around $750 million. The mine produces over four mtpar. The output can be scaled up to over 15 mtpa after the development of infrastructure.
The acquisition is a part of Lanco â€™s strategy to acquire coal assets and linkages for its power projects. The company plans to raise its power generation capacity to 15,000 MW by 2015 from 2,100 MW now.