Plans outlay of Rs 9,900 crore
Neyveli Lignite Corporation (NLC) is planning to increase its power generation capacity to 4,290 mega watt (Mw) from the present 2,490 Mw for an outlay of Rs 9,900 crore. The corporation also said it plans to acquire coal mines in Indonesia and South Africa.
Meanwhile, the corporation had said that one of its major power project is being delayed by two years since Bharat Heavy Electrical Limited (BHEL), another public sector major, and the state government are not co-operating. So is the case with another project in Orissa,” said a senior official of NLC.
Speaking to reporters after announcing company’s results, A R Ansari, chairman-cum-managing director, Neyveli
Lignite Corporation, said the corporation is looking to set up 2,000 Mw power plant between Tuticorin and Chennai. “We have asked the state government to allocate land for setting up the power plant. For this we would require around 2,000 acres of land.”
Similarly, in Rajasthan, which will go on stream with phase I of 125 Mw, the company is planning to expand the plant by adding another 500 Mw. “Phase I 125 Mw will go on stream in June this year, another 125 Mw in July, we are also planning to add another 500 Mw in Rajasthan,” said Ansari.
NLC is also planning to set up wind farms in the districts of Tiruneveli and Theni in Tamil Nadu, with a total capacity of 50 Mw.
First unit is likely to go on stream in October or November this year, he added.
The company’s first solar power plant is also being proposed in Neyveli with a capacity of 25 Mw.
Commenting on the coal mine acquisitions, Ansari said, the corporation is planning to acquire a coal mine in Indonesia. “We are presently doing the due diligence to acquire 2.5 million tonnes of resource (coal mine). The acquisition cost of this would be around Rs 400-500 crore,” he added.
The company is also looking at mines in South Africa. “To add every 1,000 mega watt, we require 600 million tonnes of coal, we want to do all the mine acquisitions on our own.” said Ansari.
“By end of 12th Five Year Plan we will increase our power generation capacity to 4,290 mega watt (Mw) from the present 2,490 Mw,” said Ansari.
The corporation expects 6.4 per cent growth in production and an 8 per cent growth in power generation in 2010-11, added Ansari. The corporation has reported a 22.8 per cent growth in sales in 2009-10 at Rs 4,121.03 crore compared to Rs 3,354.91 crore in 2008-09.
The company’s net profit in 2009-10 rose 51.9 per cent to Rs 1,247.46 crore from Rs 821.09 crore.
