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Southern power boards owe Rs 2,500 cr: NLC

Source : BUSINESS_STANDARD
Last Updated: Wed, Jan 04, 2012 19:42 hrs

The southern State Electricity Boards (SEBs) collectively owe around Rs 2,500 crore to the Navaratna-company Neyveli Lignite Corporation, according to a company’s senior official. The corporation, which is the major supplier of power to the southern states, also said it is interested in taking equity participation in some of the projects which the boards have planned.

A senior official from the corp-oration said, Tamil Nadu Electricity Board (TNEB) alone owes around Rs 1,500 crore to the NLC while other electricity boards, owned by the governments of Karnataka, Andhra Pradesh, Kerala and Union Territory of Puducherry owe around Rs 1,000 crore.

The official also said, the corporation is looking at various alternatives to collect dues and it is interested in taking equity participation in some of the projects which the boards have planned.

Earlier, NLC’s CMD A R Ansari said, “A major challenge for the boards is the evacuation of power produ-ced from various power plants in the state. For instance, the TNEB has a capability to produce power, but they don’t have the resource (money) to set up evacuation infrastructure,” he said.

“TNEB asked us to become a partner in transmission. I may commit to be partner and can invest upto Rs 500-600 crore,” said Ansari.

Meanwhile, the integrated mining-cum-power generation company NLC has said it is will generate 250 Mw from its two of its Rajasthan units and light up two other plants at Neyveli in Tamil Nadu this fiscal.

The corporation also said, it is loo-king at coal resources in foreign countries and a team has been set up to study the possibilities of acquiring coal mines. The company is also planning to join hands with Coal India Ltd (CIL) to develop and acquire coal blocks.

These acquisitions are to support the company’s plan to increase the mining capacity to 37.35 MTPA.

The Navaratna company is planning new projects with a capacity 7,500 Mw, including a 4,000 Mw plant at Tamil Nadu and 2,000 Mw plant at Uttar Pradesh with an investment of over Rs 40,200 crore.

The company aims to reach 8,140 Mw by the end of the XII Plan period.




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