According to media reports, the company will require up to 50 million tonnes of coal over the next four years to fuel its power projects in India.
The mines of Griffin Coal are expected to give Lanco access to four million tonnes of thermal coal, which can be increased to more than 15 million tonnes.
Lanco chief financial officer Suresh Kumar is quoted by the Economic Times as saying that the acquisition of Griffin Coal will meet 30% of the company’s overall coal requirement till 2015.
Lanco aims to boost its power generation capacity to 15,000MW by 2015.
