NLC to invest Rs 14,000 cr in Odisha

NLC to invest Rs 14,000 cr in Odisha

State-owned Neyveli Lignite Corporation will invest more than Rs 14,000 crore in thermal and solar power plants in Odisha.

“NLC has submitted proposals for coal-based power plants and renewable energy projects. Their proposal, after being vetted by the single-window clearance authority, has now been referred to the high-level clearance authority for final approval,” a state government official was quoted as saying by Business Standard.

Recently, the board of NLC India has approved a buyback offer worth Rs 1.491 crore for 150 million shares, at Rs 99 a share.

NLC is a ‘Navratna’ profit making, Government of India Entreprise engaged in mining of lignite and generation of power through lignite based thermal power plants.

It is headquartered in Chennai and its main activities are Lignite Mining and Power Generation. However, the company has also diversified into generation of renewable energy through Solar Power Generation and Wind Power Generation.

Image Credit : nlcindia.com