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Lanco willing to divest stake in Griffin Coal

Lanco Group, which owns Griffin Coal Mines in Australia, expects to achieve financial closure for its expansion programme by July 2013 and is also prepared to divest majority stake in the mines, a top official of the infra major said. Lanco Chairman L Madhusudhan Rao said the total investment that is needed for expansion of Griffin mines would be around $1.2 billion.

This includes increasing mining capacity, strengthening the rail line and building a jetty at port.

PTC India appoints Deepak Amitabh as CMD

PTC India on Friday said its director finance and CFO, Deepak Amitabh, would take over as chairman and managing director of the company from October 11. The present CMD of PTC India, T N Thakur, would vacate office on October 11. Amitabh will take charge as the CMD of PTC India as well as PFS — a non-banking finance company promoted by PTC India and classified as Infrastructure Finance Company by the Reserve Bank of India.

Nova Specialty picks up stake in Excel Hospitals

The Goldman Sachs-backed Nova Specialty Surgery has acquired a majority stake in Kanpur-based Excel Hospitals. Nova had recently raised R300 crore from Goldman Sachs. The new Nova super-specialty facility will provide world-class, affordable healthcare services in Kanpur. The facility will have state-of-the-art operation theaters in various specialties such as laparoscopy and pain management.

L&T construction bags orders worth R2,130 cr

Larsen and Toubro construction has secured new orders worth R2,130 crore across various business segments this month. In the buildings & factories segment, the company bagged new orders worth R1,650 crore, while additional orders of R480 crore have been secured from various ongoing projects in the infrastructure segment and other business units.

Mahindra Satyam starts work on Nagpur IT centre

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