NLC India to ramp up coal production to 20 million tonnes per annum; Stock ends 3% up

The company has crossed 2 Million Tonnes of production to date during its first full year of operation.

Oct 13, 2021 05:10 IST India Infoline News Service

Coal-and-shovel
NLC India has decided to ramp up its coal production to 20 million tonnes per annum (MTPA) from 4 million tonnes. The company has crossed 2 Million Tonnes of production to date during its first full year of operation.

NLCIL has taken steps to achieve the Target of 6 MTPA from its original schedule of 4 MTPA during the current year and considering the high demand for coal, NLCIL is taking all-out efforts to augment the Coal Production of Talabira Mine up to 10 MTPA for the current a year and up to 20 MTPA from next year onward.

This will not only provide fuel security to End Use Plants but also make available coal in the market.

The coal produced is being transported to one of the Ends Use Plant, NLC Tamilnadu Power Limited’s 2 x 500 MW at Tuticorin, Tamilnadu, a subsidiary of NLCIL. The entire generated power is catering to the requirement of Southern States, major share (more than 40%) to Tamilnadu.

Recent Amendment to Mines and Minerals (Development and Regulation) Act on Mineral Concession Rules by Ministry of Coal, Govt. of India on 1st October 2021 has enabled the Mine for sale of excess Coal after meeting the coal requirement of End Use Plant.

Accordingly, the permission from Ministry of Coal has been sought to sell the excess coal.

On Sensex, NLC India stock ended at Rs71.10 per piece up 2.7%.

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