Neyveli Lignite Corporation (NLC), a state-owned firm, paid dividend of Rs 361 crore to the Ministry of Coal for the 2010-11 fiscal. NLC chairman and managing director presented the cheque to Coal Minister. The company in the last fiscal had declared a 23% dividend amounting to Rs 448.47 crore.
Recently, the company had received its board approval to set up a 4,000-MW thermal power project in Tamil Nadu. In this regard, the company would invest Rs 20,000 crore. The project would be implemented in two phases of 2,000 MW each. The company had approached the state government for according administrative sanction to acquire required lands.
Neyveli Lignite Corporation (NLC) is engaged in the business of lignite mining and power generation. At present, the company has four opencast lignite mines with a capacity of about 30.60 million tonnes per annum, while it can produce about 2,740 MW of power from four power plants.
