Neyveli plans to acquire power plants in India; coal blocks abroad

The state-run mining and power generation company, theCorporation (NLC), has said it was planning to acquire power plants in India and outside the country. During the 13th Five Year Plan (FYP) period, the company intends to add 11,206 megawatt (Mw) at an outlay of Rs 65,000 crore.

The development comes at a time when its projects are increasingly facing problems due to delay in various clearance and time-delay from Ltd (BHEL), among other factors.

Chairman and Managing Director said for a faster growth, the company was looking to acquireassets in India.

“Eight offers have been shortlisted. These are under evaluation,” said Mohan, while refusing to share any details about the eight proposals.

NLC need to pursue ways to expedite implementation of the new projects more efficiently, said Mohan.

“If we want to start a new plant, it will take around four-five years, so this (inorganic) way will be easy for us,” said Mohan.

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