The two 500 Mw projects are to be set up at a capital cost of Rs 4909.54 crores through the joint venture company with Tamilnadu Electricity Board.
Neyveli Lignite Corporation Limited, owns three mines for production of lignite. It also operates two thermal power stations comprising Neyveli Thermal Power Station-I and Thermal power station-II.
Shares of the company had gained 3.27 per cent to Rs140.5 at 12.14 pm.