History of Neyveli Lignite Corporation Ltd.
1956
- The Corporation was incorporated as a private limited Comp. on 14th November, by Government of India. The Comp. undertake mining and processing of lignite, generation & distribution of power, manufacture of fertiliser, chemicals, etc. Briquetting and carbonisation of lignite & processing & sales of clays of all kinds. The Corporation main products are lignite, electric power, urea, leco, coke fines, nekolin & pulverised nekolin.
1978
- In February, sanction was received to set up a second thermal power station comprising three 210 MW units.
1979
- Out of total shares issued till date, 17,65,509 shares were issued for cash, 6,01,500 shares were issued by converting Govt. loan into equity & 43,733 shares issued without payment in cash.
1983
- M/s. Rheinbraun were appointed technical consultants for the expansion project.
- Development Consultants Pvt. limited [DCPLs] were appointed Indian Consultants for project & Lahmeyer International of West Germany were appointed retainer consultant to look into the lignite firing aspects & to scrutinise tenders for import of milling & firing equipment, etc.
1985
- Letters of Intent were issued in December for 3 nos. of 1400 litres BWEs, 3 nos. of 700 litres BWEs, 400 mm & 2000 mm width conveyors. Letters of intent for spreader was issued in May 1986.
- 2,23,500 No. of Equity shares issued for cash.
1986
- It was converted into a public limited Comp. on 7th March. The Corporation activities are conducted by five units - mines, thermal power station, fertiliser plant, briquetting & carbonising plant and clay washing plant.
- In January, a supplementary feasibility report for first mine expansion & a report on setting up a Power Station of 2 x 210 MW were submitted to the Government of India. Unit-II was commissioned.
- The Comp. along with Engineers India Ltd., entered into a contract with Gujarat Mineral Development Corporation for monitoring expansion of Panandhro mine including construction, supervision, Cost minitoring, inspection & approval of drawing etc. - The Corporation issued 5,00,000-14% [`A' Seriess] secured redeemable non-convertible bonds of Rs 1000 each at par. These bonds are redeemable at par after the expiry of 7 years from the date of allotment.
- 6,72,000 No. of Equity shares issued for cash. 1987
- The Unit-I was commissioned.
- The 400 KV transmission system viz., 400 KV line between Neyveli-Chennai, 400 KV line between Neyveli-Pondichery along with the switching stations/sub-stations were commissioned.
- During October, the Comp. issued 8,50,000 - 9% [tax-frees] & 13% [taxables] secured redeemable non-convertible [`B' Seriess] bonds of Rs 1000 each for cash at par aggregating Rs 85 crores, of which [is] 3,50,000 bonds were offered on private placement basis [all were taken ups] & [iis] 5,00,000 bonds to the public. Additional 38,274 bonds were allotted to the public on 19th December, 1987 to retain over-subscription.
- 11,33,100 No. of Equity shares issued for cash.
1988
- An agreement was entered into with ICB of India for preparations of the techno feasibility report for revamping the urea plant in consultation with the original supplier, viz., Technimont, Italy. Introduction of three grove forms & stamps in more number of presses. - The Bonds of `C' series & `D' series to the value of Rs 200 crores and Rs 120 crores respectively were issued under private placement basis. It was also proposed to issue `E' series bonds to the extent of Rs 400 crores to meet the capital expenditure of various expansion schemes.
- 16,16,900 No. of Equity shares issued for cash.
1989
- 29,10,000 No. of Equity shares issued for cash.
1990
- Four electro static precipitators were erected & commissioned in thermal power station-I. - 9,80,000 No. of Equity shares issued for cash.
1991
- By virtue of Fertiliser plant shut down for a period of about 20 days on Acc. of annual turnaround. Moreover plant was shut down once again for a period of 5 days due to strike by workers. Added to these was the power failure & other break downs.
- The 170 Km. long Neyveli-Salem second circuit 400 KV line was commissioned apart from the commissioning of second 315 MVA transformer at Udamalpet sub-station was also commissioned.
- Shares amounting to Rs 71791.30 crores of corporation were disinvested & transfered to various financial institutions, mutual funds, nationalised banks etc. These were listed in the Stock Exchanges at Chennai, Mumbai, Delhi & Ahmedabad.
- Equity shares sub-divided. 1520,00,000 No. of Equity shares issued for cash.
1992
- Shares amounting to Rs 104.37 crores representing about 7.27% of the paid-up capital as on 31.03.1991 [6.45% of 1992-93s] were disinvested and were listed on Ahmedabad, Mumbai, Delhi & Chennai Stock Exchanges.
- 511,57,500 No. of Equity shares issued for cash.
1993
- During the year, a contract was signed with M/s. PDIL, Sindri for installation and Commissioning of an efficient treatment plant for the fertilizer factory.
- Action was taken for modernisation of instrument system & for conducting a study for revamp of plant. A separate Nitrogen plant was planned & M/s. Lurgi were appointed as consultants.
- The Comp. disinvested 717,91,300 No. of equity shares at an average price of Rs 11.46 per share.
- Permission was received for establishing a 250MW lignite based thermal power plant subject to certain conditions.
- 964,32,500 No. of Equity shares issued for cash.
1994
- 833,70,000 No. of Equity shares issued for cash.
1995
- Two Electro Static precipitators were commission in Boiler-4 & 7A.
1996
- Bucket wheel excavator was released for rejuvenation works on 6th October.
- Production was affected due to power failure voltage dips and subsequent start up & stabilisation of plant, problem in one of the gasifiers due to oxygen compressor in July & to attend the breakdown & leaks in ammonia/urea plants.
- Steps were taken for replacement of existing 3 ammonia convertors by a single convertor of improved technology by placing orders on M/s. Projects and Development India Ltd., Sindri.
- In February, sanction was received for addition of 2 units of 210 MW each in thermal power station-I.
1997
- The Neyveli Lignite Corporation [NLCs] has entered into a loan agreement for DM 375.20 million [about Rs.750 crores] with KFW,
1998 - The public sector Neyveli Lignite Corporation Ltd [NLCs], has exceeded targets set for power generation, power export, production of coke & overburden removal for May.
- The Letter of Intent [Lols] to Ansaldo was issued on Aug. 11, - The Neyveli Lignite Corporation [NLCs] is set to take up a sizeable equity stake in the 250 MW lignite-based power project being established at Srimushnam in the state by Tamil Nadu Industries Captive Power Comp. Ltd [Ticapcos], a subsidiary of BSES Ltd.
- Neyveli Lignite Corporation Ltd [NLCs] will add two 210-mw units to its thermal power station-I [TPS-Is].
1999
- The Neyveli Lignite Corporation [NLCs] had entered into an agreement with ST-CMS, an US power generating private Comp. to set up a 250 mw thermal power station here & to supply lignite.
- The Neyveli Lignite Power Corporation [NLCs] will continue to provide about five million units of power a day to Karnataka with minimum disruption.
- The proposed joint venture of Neyveli Lignite Corporation [NLCs] and the National Thermal Power Corporation [NTPCs] for putting up a 1,200-1,500 MW lignite-based power plant using the lignite from NLC's mine-III, may not materialise at all.
2000
- Neyveli Lignite Corporations [NLCs] two power stations have bagged the meritorious productivity award of Union government for 1997-98.
- The Department of Comp. Affairs, Ministry of Law, Justice and Company Affairs has confirmed the reduction in the share capital from Rs 17,96,78,42,000 to Rs 16,77,70,96,000 for transfer of Power Transmission System to Power Grid Corporation of India Ltd.
- China will enter into a joint venture with Neyveli Lignite Corporation [NLCs] for Lignite mining project in India.
- The eight unit of Neyveli Lignite Corporation first thermal power station has been recommissioned & synchronised with the Tamil Nadu grid.
2001
- Power Finance Corporation [PFCs] has committed to extending a loan of Rs 1,000 crore to the Neyveli Lignite Corporation [NLCs] for its Mine-II and TPS-II expansion project
2002
-Earns Rs 950 crore profit during 2001-2002 fiscal
-Signs MoU with Rajasthan government to set-up a lignite-based thermal power station at Barsinger in Bikaner district
-S Jayaraman takes over as CMD of Neyveli Lignite
-Fire breaks out at Neyveli Lignites' lignite transfer system at Thermal Power Station - II
-Unveils two new units [the first 210-MW unit of TPS-1 & the fourth overburden system of Mine-1A projects]
2003
-Enters into MOU with Tamil Nadu Electricity Board for setting up of 100 MW Thermal Power Station at Tuticorin in Tamil Nadu
-Delisting of equity shares of Comp. from Madras, Delhi and Ahmedabad Stock Exchanges.
-Got the statutory clearances for expanding the capacity of its Mine II from 10.5 million tonnes per annum to 15 million tonnes per annum
-Appointed 1. V K Pandit 2. R Vijayaraghavan 3. P K Sengupta 4. D Babu Paul 5. Deepak Singh 6. Shailendra P Singh 7. Sunil Bhargava. as Non Official Part Time Directors
-Shri A R Ansari has assumed charge as Director [Planning and Projectss] of company
-- K Skandan relinquishes as Part Time Official Director of company
-Neyveli Lignite Corporation Limited has informed that the shares of Comp. have been delisted from the Delhi Stock Exchange Association Ltd & Madras Stock Exchange Ltd w.e.f. December 10, 2003 & December 12, 2003 respectively.
2004
-Neyveli Lignite Corporation Limited has informed that the equity shares of Comp. have been delisted from The Stock Exchange, Ahmedabad with effect from January 15, 2004.
-NLC bags ISO quality certification
-NLCL ties up with ONGC
2005
-Neyveli Lignite Corporation enters into an MoU with Rural Electrification Corporation for funds up to Rs 2,500 crore
-Neyveli Lignite enters into JV with TNEB
-Neyveli Lignite Corporation Ltd on December 21, 2005, has appointed Shri. D Rajendran, I.A.S. Secretary to Government of Tamilnadu, Industries Department as an Additional Director of Company.
2006
- Neyveli Lignite Corporation Ltd has appointed Shri S P Seth, Additional Secretary to Government of India, Ministry of Coal as a part-time Official Director on the Board of Comp. in place of Shri Pradeep Kumar, former Special Secretary, Ministry of Coal.
2007
-Neyveli Lignite Corporation Ltd has appointed Shri. Y N Appa Rao, Shri. Shashi Kumar, Dr. Krishna Kumar, Shri. Ravindra Sharma, Shri. S Rammohan, Sri. P K Choudhury, Shri. S Sadagopan, as Additional Directors of Company.
