Updates: Neyveli Lignite

Thebullishtrends: Neyveli Lignite share price closed today at Rs.116.75(-Rs.3.15). Neyveli Lignite Corporation Ltd (NLC) has informed that the Company a Mini Ratna, Government of India Enterprise was established in the year 1956. NLC is a pioneer in the excavation of lignite and generation of power at pit head thermal power stations. NLC has spread its wing right from Rajasthan in North to Tuticorin in the South and Gujarat in the West to Orissa in the East by augmenting the production of lignite and power generation by expanding its existing projects and by entering into joint venture (Jv) for the new mining projects in the other States of India.NLC now operates three open cast mines at Neyveli viz. Mine-I of 10.50 Million Tonnes Per Annum (MTPA), Mine-II of 10.50 MTPA, Mine-IA of 3.0 MTPA and three thermal power stations viz. Thermal Power Station-I of 600 MW, Thermal Power Station-II of 1470 MW and Thermal Power Station -I Expansion of 420 MW provide power to the Southern States.All the Mines and Thermal Power Stations of NLC have been accredited with ISO 9001:2000, ISO 14001:2004 and OHSAS 18001: 1999 certificates for Quality Management System, Environmental Management System and Occupational Health and Safety Assessment Series respectively.During the year 2007-08, the lignite production and excavation of overburden from its mines and its power generation from its power stations have surpassed its previous records and are the highest for any year since inception. The details of its production performance during the year 2007-08 is given below:- The overburden removed is 1356.23 Lakh Cubic Metre (LM3) against 1345.41 LM3 achieved during 2006-07 registering a growth of 0.8% and is the highest for any year since inception.- The lignite production from its mines is 215.75 Lakh Tonnes (LT) against 210.14 LT achieved during the year 2006-07 registering a growth of 2.67% and is the highest for any year since inception.- The total power generation 17455.90 Million Units (MU) against 15786.58 MU achieved during the year 2006-07 registering a growth of 10.57% and is the highest for any year since inception.- The power generated from Thermal Power Station-II is 10518.27 MU which is the highest for any year since its inception- The power generated from Thermal Power Station-I Expansion is 3266.40 MU which is the highest for any year since its inception.During the year 2007-08, the overburden removal, lignite production and power generation have exceeded their targets set by 3.37% , 7.61% and 11.15% respectively.