Wednesday, October 16, 2013

Neyvelli Lignite scrutinizes proposals from Indonesia, Australia, US etc. on coal supply; decision likely in next month

BS Mohan, CMD
NEYVELI Lignite Corporation Limited (NLC), a Navratna enterprise under the administrative control of ministry of coal, is considering proposals from countries such as Indonesia, Australia, Mozambique and the US offering coal assets and long-term fuel supplies for its upcoming power projects. The company is expected to take the final call on these proposals by...
next month. It will also buy two to three assets abroad for supply of 2-10 million tonnes (MT) of coal in a year. NLC had earlier floated Expression of Interest (EoI) for buying assets abroad for long-term coal supplies for the power plants and also for acquiring stakes in mining firms. The Union government had earlier given its nod for the implementation of coal-based 2x500 MW thermal power project at Tuticorin at an estimated cost Rs 4,910 crore.
In fact, the Central PSE has now planned to increase its installed power generation capacity to 4,240 MW by the end of the fiscal. At present, the Tamil Nadu-based lignite miner has an installed capacity of 2,740 MW. With the implementation of 1,000-MW power project at Tuticorin and 500-MW of TPS-II expansion, the PSU will have an installed capacity of 4,240 MW by the end of the fiscal. The TPS-II expansion project, being implemented at a cost of Rs 2,030 crore, is likely to be operationalised by March 2014. NLC is expanding its activities not only at Neyveli, but also in other parts of the country. Its fuel needs are likely to go up to 10 MTPA once all these projects are commissioned. It is in the process of setting up two power plants in Tamil Nadu and Uttar Pradesh at an estimated cost of Rs 24,770 crore, to take its capacity to 11,195 MW.
In Tamil Nadu, NLC will set up a 4,000-MW coal-based power plant in Nagapattinam. In Uttar Pradesh, it will set up a 1,980 MW (3X660 MW) plant in Ghatampur in Kanpur Nagar district at an estimated cost of Rs 14,375.4 crore.
In Rajasthan, the company has proposed setting up a thermal power plant of 250 MW capacity at an aggregate estimated cost of Rs 2,298.83 crore. The firm operates four mines with a total capacity 30.6 MTPA, and four thermal power stations of total capacity of 2,740 MW.
The Union government had last month sold over 5.97 crore shares, or 3.56 percent stake, in NLC through an institutional placement programme (IPP) at a price band of Rs 58-60 a share.

No comments:

Post a Comment