Neyveli Lignite to enter power generation, coal mining
31 Dec 2009
Neyveli Lignite Corporation (NLC) on Wednesday said it was planning to venture into power generation and mining businesses.
According to a company press release, NLC planned to participate in development of coal blocks allotted to state governments or coal-based power generation under public-private partnership with state government undertakings. The release also highlighted some of the NLC's achievements in 2009.
The company also proposes to participate in competitive bidding for power projects, setting up Ultra Mega Power projects floated by the power ministry, the release said.
According to the release, NLC's performance had exceeded the target despite heavy rainfall in the third quarter of 2009-10. The release further stated that net sales for the first half of the year 2009-2010 were Rs1,765.85 crore, as against Rs1,397.40 crore the previous year.
Regarding new projects, NLC said the pre-commissioning activities of the Rs5,560-crore Rajasthan lignite mine-cum-power project were proceeding in 'full swing."
The 2x125 MW Barsingsar Thermal Power project and the second unit of the plant was also expected to go on stream in March 2010, according to the release.