India's Neyveli Lignite Invests $4.7 Billion in Coal and Power

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--During India's 12th Five-Year Plan (2012-17), state-owned Neyveli Lignite Corporation Limited (BSE:513683) (NLC) (Chennai) will invest about $4.7 billion in the coal and power sectors. About $4.3 billion will go toward the development of power projects, and $404 million will go toward coal projects.

NLC is planning to expand a number of its ongoing projects, including a mine at Neyveli and Barsingsar (Rajasthan) and a power plant at Tuticorin (Tamil Nadu).

The company also plans to build a $58 million windfarm and a solar power project with an investment of $2.1 billion.

Currently, NLC is developing underground coal gasification (UCG) projects. An appropriate developer will undertake the UCG project at Raneri in Rajasthan after a competitive bidding process. Other UCG projects in Rajasthan and Gujarat will be implemented in a joint venture with state-controlled Oil & Natural Gas Corporation (BSE:500312) (ONGC) (Dehradun).

The overall lignite coal production in India is expected to reach 290 million tons by 2016-17.

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