CDB provides $200 million buyer’s credit for Units 3&4 of Lanco Amarkantak Thermal Power Plant, Babandh Power Station, and Vidarbha Power Station (linked to Record ID#s #53778, #42741)

Project narrative

In 2010, China Development Bank and Lanco Infratech Limited — one of the India’s largest integrated infrastructure developers — signed a $200 million buyer’s credit agreement to the support the construction of Units 3 & 4 (1320 MW) of Lanco Amarkantak Thermal Power Plant, the Babandh Power Station (1320 MW), and the Vidarbha Power Station (1320 MW). The terms and conditions of this buyer’s credit are unknown. Units 3 & 4, also known as Phase II, of Lanco Amarkantak Thermal Power Plant are located in in Pathadi village and Korba district. The Babandh Power Station is located in the village of Kharagprasad within Dhenkanal district. The Vidarbha Power Station is located 2 km east of the village of Mandva (or Mandwa) and 6 km northwest of Wardha. These projects are in various stages of implementation, and all have encountered major delays. As of May 2019, neither the Babandh Power Station or the Vidarbha had been completed. According to a Lanco Brief Company Profile Draft, Amarkantak Thermal Power Plant Phase II had received a COD of May 7, 2011, and construction was reportedly 95% complete as of November 2019. According to Construction Week, although the Amarkantak units were scheduled to be completed in 2016/ 2017, as of February 2020, Phase II remains incomplete. According to the Broad Status Report in August 2020, both the Babandh and Amarkantak Thermal Power Plants are being delayed due to land acquisition difficulties, and financial problems. Vidarbha is reportedly delayed only by financial issues.