Home BusinessNLC proposes to venture into power generation, mining
Neyveli Lignite Corporation today said it plans to venture into power generation and mining industry business.
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NLC plans to participate in development of coal blocks allotted to state governments or coal-based power generation under public private partnership with state government undertakings, a release said.
The company has also proposed to participate in competitive bidding of power for taking up ultra mega power projects (UMPPs) floated by the Power Ministry, it said.
Stating that NLC"s performance between April-November 2009 has exceeded the target, despite heavy rainfall in the third quarter of 2009-10, it said net sales for the first half of the year 2009-2010 was Rs 1,765.85 crore, compared to Rs 1,397.40 crore the previous year.
On new projects, the company said the pre-commissioning activities of the Rs 5,560.31 crore Rajasthan Lignite Mine-cum-Power Project is on "full swing".
The 2x125 MW Barsingsar Thermal Power project and the second unit of the plant was also expected to be commissioned in March 2010, it said.
With implementation of the projects, the mining capacity would increase from 24 million tonnes to 30.6 million tonnes per annum and power generation capacity from 2,490 MW to 3,240 MW in 2010, it said.