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Neyveli Lignite

State-owned Neyveli Lignite recently achieved a marginal 1.65 per cent growth in lignite production at 14.86 million tonnes (MT) during April-November 2010 over the year-ago period.

The miniratna firm under the Ministry of Coal had produced 14.62 MT of the dry fuel during April-November 2009. “...the company is poised for a substantial growth in the years to come,” the company said in a statement expressing hope to increase its lignite and power production capacity on completion of expansion projects.

It plans to take its power generation capacity to about 4,300 MW by 2012 from present 2,615 MW.

Its projects under-execution include a 1,000-MW project at Tuticorin, Tamil Nadu, a 500-MW extension of the Neyveli plant, and a 50-MW wind power project.
The company at present operates three opencast mines at Neyveli, Tamil Nadu and one in Rajasthan with a total capacity of 30.60 MT.

It registered a profit after tax of Rs. 1,604.86 crore in FY’10 compared to Rs. 1,046.01 crore in the previous year.

NLC is also spreading its wings in new projects with fuels other than Lignite. NLC forges ahead in all fronts and with its expansion activities the company is poised for substantial growth in the years to come.

On completion of the above On-Going projects already approved and with new projects on the anvil, NLC mining capacity (lignite & coal) is expected to be more than double its present capacity and the power generation will be at least three folds of its present generating capacity.

NLC is expecting shortly elevation of the status of Mini Ratna to Nava Ratna status based on the continuous and consistent support and co-operation from working force. NLC is poised to spread its service in the entire nation and its fame all around the world.

Performance during 2010-11
Production
During the period April-November 2010
  • Overburden removal achieved 1095.11 lakh cubic metres (LM3) against 1042.67 LM3 achieved during the corresponding period of the previous year, registering a growth of 5.03%.
  • Lignite production achieved 148.624 Lakh Tonnes (LT) against 146.212 LT achieved during the corresponding period of the previous year, registering a growth of 1.65%.
  • Power generation had achieved 11527.11 Million Units (MU) against 11711.07 MU achieved during the corresponding period of the previous year.

Financial Performance:
  • The Net sales for the first half year 2010-11 stands at Rs. 2208.63 crore as compared to Rs. 1,765.85 crore for the same period in the previous year 2009-10 and registered a growth of 25%.
  • Neyveli Lignite’s Profit Before Tax stands at Rs. 859.84 crore for the first half year 2010-11, as compared to Rs. 745.82 crore in the same period of previous year and registered a growth of 15.29%.
  • NLC posted a net profit of Rs. 615.81 Crore for the first half year 2010-11, as compared to Rs. 531.23 crore in the same period of previous year and registered a growth of 15.92%.
Projects:
  • In the Barsingsar Thermal Power Station, the second 125 MW unit was synchronized on 5th June 2010. Both, unit-I and unit-II are under stabilization and the Commercial operation from both the units are expected in December 2010
  • In respect of TPS-II Expansion project, erection activities are in progress and the first 250 MW unit is expected to be commissioned in March 2011 and the second unit in the next financial year
  • For NLC’s New Thermal Power Project at Neyveli (2x500 MW) in lieu of TPS-I, Public Investment Board (PIB) meeting and GOI sanction is awaited
  • An MoU for formation of a Joint Venture Company was signed with (Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited) UPRVUNL with equity participation of NLC: UPRVUNL in the ratio 51:49 to set-up a 2,000 MW coal based Thermal Power Project in Ghataampur, Kanpur District, Uttar Pradesh State
Awards
  • Dalal Street investment journal award for PSU’s in the category of PSU with highest market capitalization for the year 2009
  • NLC has been awarded by the District TB centre (Tamil state Government) for making the largest donation towards eradication of TB for the year 2009.

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