The Competition Commission of India (CCI) approves acquisition of 100% equity and preference shares of Lanco Anpara Power Limited (LAPL) by Megha Engineering and Infrastructures Limited (MEIL) under Section 31(1) of the Competition Act, 2002.
The Proposed Combination involves acquisition of 100% of the equity and preference shares of LAPL by MEIL or its wholly-owned subsidiary.
MEIL is a public limited company, incorporated on 7 June 2006 under the Companies Act, 1956, in India. It is primarily involved in undertaking engineering, procurement and construction, Build, Own, Operate, Transfer / Build, Own, Operate projects in various sectors such as power, irrigation, drinking water, transportation, general infrastructure and hydrocarbons. MEIL directly as well as through its subsidiary SEPC Power Private Limited, is involved in the generation of power through sources such as solar and coal energy.
LAPL is engaged in thermal power generation by utilising coal as its source of energy. The power plant was won through competitive bidding under the Electricity Act 2003. It houses two subcritical units of 600 MW each located near Anpara in Uttar Pradesh. Therefore, the total installed capacity of LAPL is 1200 MW.
Detailed order of the CCI will follow.
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RM/PPG/KMN