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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, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
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