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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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Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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