Lanco Infratech Limited one of India’s leading companies in the Power, EPC and Infrastructure space announced that its successful completion of the acquisition of the Griffin coal mines in Western Australia.

The AUD 750 million acquisition is the largest investment by any Indian enterprise in Australia to date. Griffin has been in administration since January 2010.

Lanco’s Chairman Mr L Madhusudan Rao said the Company was pleased to complete the acquisition and was committed to long term development of the business.

In Perth to complete the transaction, Lanco Chairman Mr Rao and company executives met with the Hon. Colin Barnett MLA, Premier of Western Australia in Perth.

Mr Rao said that “We were very pleased to have a successful meeting with the Premier this week, and we received a positive response to the completion of this acquisition, and our development plans. We are focussed on growing the Griffin coal business, and further developing the mining and infrastructure (rail and port) facilities in the region.”

This would include development of additional facilities at Bunbury port, and ramping up mine production by four fold to above 15 million tonnes per annum.

Lanco also plans to develop or strengthen the rail corridor between the Collie Coal mine and Bunbury, which would also fulfill the enhanced need of cargo movement around the region.

He added that “We believe these development plans and additional investments will support significant growth opportunity, economic development and employment generation in the region.”

During their meeting, chairman Mr Rao further assured the Premier that Lanco is committed to the long term development of the region beyond the Griffin Coal mines.