Neyveli Lignite Corporation

1956
 
 - The Corporation was incorporated as a private limited company on
 14th
 November, by the Government of India.  The company undertake mining
 and
 processing of lignite, generation and distribution of power,
 manufacture of fertiliser, chemicals, etc.  Briquetting and
 carbonisation of lignite and processing and sales of clays of all
 kinds.  The Corporation's main products are lignite, electric power,
 urea, leco, coke fines, nekolin and pulverised nekolin.
 
 1978
 
 - In February, sanction was received to set up a second thermal
 power
 station comprising three 210 MW units.
 
 1979
 
 - Out of the 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 and 43,733 shares issued without payment in cash.
 
 1983
 
 - M/s. Rheinbraun were appointed technical consultants for the
 expansion project.
 
 - Development Consultants Pvt. Ltd. (DCPL) were appointed Indian
 Consultants for the project and Lahmeyer International of West
 Germany
 were appointed retainer consultant to look into the lignite firing
 aspects and to scrutinise tenders for import of milling and 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 and 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 company on 7th March.  The
 Corporation's activities are conducted by five units - mines,
 thermal
 power station, fertiliser plant, briquetting and carbonising plant
 and
 clay washing plant.
 
 - In January, a supplementary feasibility report for first mine
 expansion and 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 Company 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 and approval of drawing etc.
  
 - The Corporation issued 5,00,000-14% (`A' Series) 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 Company issued 8,50,000 - 9% (tax-free) and
 13%
 (taxable) secured redeemable non-convertible (`B' Series) bonds of
 Rs
 1000 each for cash at par aggregating Rs 85 crores, of which (i)
 3,50,000 bonds were offered on private placement basis (all were
 taken
 up) and (ii) 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 the
 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 and stamps in more number of
 presses.
  
 - The Bonds of `C' series and `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 the 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 and 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 account 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 and 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 the corporation were
 disinvested and transfered to various financial institutions, mutual
 funds, nationalised banks etc.  These were listed in the Stock
 Exchanges at Chennai, Mumbai, Delhi and 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 1992-93) were disinvested
 and were listed on Ahmedabad, Mumbai, Delhi and 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 & Commissioning of an efficient treatment plant for the
 fertilizer factory.
 
 - Action was taken for modernisation of instrument system and for
 conducting a study for revamp of plant.  A separate Nitrogen plant
 was
 planned and M/s. Lurgi were appointed as consultants.
 
 - The Company 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 and
 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 and stabilisation of the plant, problem in one
 of
 the gasifiers due to oxygen compressor in July and to attend the
 breakdown and 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 & Development India Ltd., Sindri.
 
 - In February, sanction was received for the addition of 2 units of
 210
 MW each in thermal power station-I.
 
 1997
 
 - The Neyveli Lignite Corporation (NLC) has entered into a loan
 agreement for DM 375.20 million (about Rs.750 crore) with KFW,
 
 1998 - The public sector Neyveli Lignite Corporation Ltd (NLC), has
 exceeded targets set for power generation, power export, production
 of
 coke and overburden removal for May.
 
 - The Letter of Intent (Lol) to Ansaldo was issued on Aug. 11,
  
 - The Neyveli Lignite Corporation (NLC) 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 Company Ltd (Ticapco), a subsidiary of BSES Ltd.
 
 - Neyveli Lignite Corporation Ltd (NLC) will add two 210-mw units to
 its thermal power station-I (TPS-I).
 
 1999
 
 - The Neyveli Lignite Corporation (NLC) had entered into an
 agreement
 with ST-CMS, an US power generating private company to set up a 250
 mw
 thermal power station here and to supply lignite.
 
 - The Neyveli Lignite Power Corporation (NLC) 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 (NLC)
 and
 the National Thermal Power Corporation (NTPC) 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's (NLC) two power stations have
 bagged
 the meritorious productivity award of the Union government for
 1997-98.
 
 - The Department of Company 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 (NLC) for Lignite mining project in India.
 
 - The eight unit of Neyveli Lignite Corporation's first thermal
 power
 station has been recommissioned and synchronised with the Tamil Nadu
 grid.
 
 2001
 
 - Power Finance Corporation (PFC) has committed to extending a loan
 of
 Rs 1,000 crore to the Neyveli Lignite Corporation (NLC) 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 and the fourth
 overburden system of Mine-1A project)
 
 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 the company from Madras, Delhi &
 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 & Projects)
 of the company
 
 -- K Skandan relinquishes as Part Time Official Director of the
 company
 
 -Neyveli Lignite Corporation Limited has informed that the shares of
 the company have been delisted from the Delhi Stock Exchange
 Association Ltd and Madras Stock Exchange Ltd w.e.f. December 10,
 2003 and December 12, 2003 respectively.
 
 2004
 
 -Neyveli Lignite Corporation Limited has informed that the equity
 shares of the Company 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 the 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 the Company 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 the Company.