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Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
 Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining and power generation sectors during the 11th and 12th plans. The 52 year old company is also venturing into new projects with fuels other than lignite.
During the year ended March 31, 2009, NLC reported lower net profit of Rs 821 crore against Rs 1101 crore in the previous year even as turnover improved to Rs 3354.91 crore from Rs 2981.65 crore in 2007-08. The board has proposed a dividend of Rs 2 per share which will entail an outflow of Rs 335.54 crore.
NLC Chairman and MD, A R Ansari told media persons in Chennai on Saturday, " We closed the year on a positive note considering the problems we faced. The unprecedented rains in Tamil Nadu affected lignite production causing a generation loss of Rs 293 crore. We also faced many strikes by contract workmen. Still, we achieved the highest ever power generation in the fourth quarter and our growth momentum has now picked up".
He said of the Rs 40,000 crore investment programme, Rs 10,000 crore is already on the floor. With reserves of Rs 5600 crore, it can borrow Rs 13,000 crore. The balance fund requirements will be met out of internal accruals.
The ongoing projects will increase its mining capacity from 24 million tonnes to 30.6 million tonnes per annum and power generating capacity from 2490 mw to 3240 mw during 2010.
By implementing the lignite based projects at NLC and at Jayamkondam and coal based power projects in the States of TN ( as JV with TNEB), Madhya Pradesh, Uttar Pradesh and Jharkand and coal mine cum power plants in Orissa and Gujarat, its gameplan is to boost mining capacity to 79.7 million tonnes and power generation capacity to 14,740 mw at the end of 12th plan, Mr Ansari said.
The board has approved its foray into wind power starting with an initial capacity of a 50 mw plant near Tuticorin. This will be raised to 200 mw later. For entering the hydro power sector, it is discussing with Uttrakhand Government to put up a 1000 mw plant at a cost of Rs 6000 crore. In a year’s time, NLC will work out a plan for entering nuclear energy.
He said the corporation has formed a shell company, NLC Videsh for acquiring coal assets mainly in South Africa and Indonesia and importing the material to set up thermal plants in the coastal regions of East and West. It will take part in tariff based competitive bidding for taking up ultra mega power projects floated by Power Ministry.
Source: Economic Times (http://economictimes.indiatimes.com/News-by-Industry/-NLC-chalks-out-Rs-40K-cr-investment/articleshow/4680846.cms)
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Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
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