NLC privatization ruled out

By SiliconIndia   |   Thursday, 19 December 2002, 08:00 Hrs
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Uma Bharti, Coal and Mines Minister, on Thursday ruled out privatization of the profit-making Neyveli Lignite Corporation (NLC).

NEW DELHI: However, she said the government is exploring possibilities for joint ventures with coal producing companies for setting up power projects in power deficient States.

"NLC will never be privatised," Uma Bharti said.

The minister said she was not against disinvestment and privatization.

Dedicating the 210 MW stage-I expansion of the thermal power station-I here, she said the lignite major would utilise its expertise in power production while coal companies would bring in their mining expertise to bring about synergies.

Coal Secretary P K Mishra said NLC should shake off its regional presence and move into other States as lignite reserves were limited.

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