2025-08-31 05:14:13
Latest Post
Cantabil Retail India Limited opens 7 new shops in August 2025
BEML Ltd bags order from Indian Railways
S&S Power Switchgear Ltd receives order worth Rs. 9 crores
Oriental Rail Infrastructure Ltd receives orders worth Rs. 3.37 crore
Electronics Mart India Ltd opens new Electronics Mart store in Gurugram
Stock Report
Neyveli Lignite enters into an MoU with Govt of Gujarat
Posted On : 2006-08-17 05:55:51( TIMEZONE : IST )
Neyveli Lignite Corporation Ltd has announced that the Company and Government of Gujarat are entering into an Memorandum of Understanding (MoU) at Chennai in the august presence of Hon´ble Chief Minister of Gujarat, Shri. Narendra Modi towards establishing an integrated Lignite Mine of 8 million tonnes per annum linked to Power Project of 1000 Mega Watt in South Gujarat in first phase to be enhanced to 1500 Mega Watt in second phase with linked mine capacity of 12 million tonnes per annum at a cost of Rs 75000 million.
Ministry of Coal, Government of India has already accorded approval for signing of Memorandum of Understanding with Government of Gujarat to implement this project. The Company will have the shareholding between 74 and 89% of the joint venture Company and the balance by Gujarat Government / Companies nominated by Government of Gujarat to implement the above project. The project finance will be carried out with Debt : Equity in the ratio 70:30.
The project will be implemented in a period of five years from the day of signing a Memorandum of Understanding starting from the preparation of Feasibility Report, sanction of GOI and commissioning of units.
Upon commissioning of the project, power generated from this project shall be made available-by the JVC to the State of Gujarat and other states in the Western Region as per the allocation.
At present the Company is operating lignite mines of 24 million tonnes per annum and power projects of 2490 MW at Neyveli. Further, the Company has planned to take up number of new / expansion projects in Tamil Nadu (Tuticorin & Jayamkondam), Rajasthan, Orissa and Madhya Pradesh to the tune of 6000 MW.
In addition, the Company is presently implementing Mine-cum-Power projects in Neyveli and Rajasthan to the tune of 750 MW at the estimated cost of Rs 55600 million apart from operating units.
During the MoU Signing Ceremony held at Chennai on July 28, 2006, Shri. S Jayaraman, Chairman-cum-Managing Director, of the Company And Shri. Balwant Singh, Chief Secretary, Power, Government of Tamil Nadu signed exchanged the documents in the presence of Shri. Narendra Singh Modi, Chief Minister of Gujarat. Functional Directors of the Company, and senior officials of the Company, Government of Gujarat participated in the function.
