Buoyed by the profit, the company is now aiming to post a spectacular turnaround in the current fiscal with a net profit of Rs 552 crore, DVC member-secretary and acting chairman P K Mukhopadhyay said.
Neyveli Lignite has long-term borrowings of Rs 7000 crore. Financing for the power station will come from cash reserves, says SK Acharya, chairman of Neyveli Lignite.
An NTPC official said that it has not received any communication in this regard. "NTPC's negligible amount may be due with Coal India, which is a routine matter," the official said.
The Narendra Modi government believes that ownership is not an important factor to determine whether an organisation or a body or a government is run well, he said adding that "it is leadership and vision which define the success of an organisation".
The state-run company plans to buy the assets with 30 percent equity and 70 percent debt. NTPC has set aside about Rs 5000 crore for the asset purchase.
State-run power generation company NTPC will seek its board's nod on the takeover of Damodar Valley Corporation's Raghunathpur thermal power plant in West Bengal's Purulia district.
"I am visiting every state concerning my departments, Energy, Coal, New & Renewable Energy, to work with the states for progress," Piyush Goyal said, adding, there should be no politics in development related matters.
Tecpro Systems today said it has bagged Rs 146.6 crore order from Damodar Valley Corporation for the entire coal handling package for a power plant.
The Coal Ministry today said it will take a call on giving back five de-allocated coal blocks to PSUs, including NTPC, after consultations with the Law Ministry.
State-run DVC on Thursday said it may have to stop power supply to Delhi, as the two distribution companies BSES Rajdhani Power and BSES Yamuna Power are yet to make outstanding payments to the company.
Leading private power producer, Tata Power, today said it has achieved full-load generation of the 525 MW unit 1 of the Maithon mega power project at Dhanbad in Jharkhand.
Tenughat Vidyut Nigam (TVNL) and Damodar Valley Corporation (DVC) have asked the government to reconsider its decision to deallocate the Gondulpara coal block jointly allocated to them in Jharkhand as the mine falls in a "no-go" zone.
The Railway Business Unit of Larsen & Toubro has secured a slew of orders aggregating Rs 1103 crore from various power plant developers for the construction of ‘Merry-Go-Round’ Systems and construction of dedicated railway lines to link power plant sites to the main line rail network.