Company issues LoI to Lanco for 600 Mw lignite-based power project at Mangrol

State-run Gujarat Industries Power Company Ltd (GIPCL) has issued letter of intent to Lanco Infratech Ltd for implementing a 600 Mw lignite-based power project at Mangrol near Surat on engineering, procurement construction (EPC) basis. The company has envisaged an investment of Rs 4200 crore for the project, informed senior company official.