<div>Lanco Infratech said on Tuesday (9 September) it planned to sell power projects to raise Rs 5000 crore ($825 million) and pay down its debts.<br /><br />Lanco will sell 3,000 megawatts of generating capacity assets, V. Sreenivas, chief operating officer at Lanco Group, said in a statement. The company will use the proceeds to reduce its debts of Rs 15,000 crore, Sreenivas said.<br /><br />Lanco, which has been negotiating with its lenders to restructure its debts since last year, has been seeking to sell assets to strengthen its balance sheet and return to profitability.<br /><br />Weighed down by large debts, a slowdown in the domestic economy and delays in completing new projects, many of India's private power producers are trying to sell plants to raise cash.<br /><br />(Reuters)<br /> </div>
