NLCIL lights up boiler in 2nd unit of Neyveli project

Chennai: NLC India Limited (NLCIL) has announced that it has lit the boiler of the second unit of the upcoming 2×500 MW lignite-fired Neyveli New Thermal Power Project.

A release said the Boiler of the first unit of the same project was lighted up on 28 December, 2018 and was synchronised with the grid on 28 March. It is also to be noted that the 500 MW capacity lignite-fired Boilers are first of its kind in India, the release added.

Further to the approval accorded by the board of directors to issue secured, redeemable, non-cumulative, non-convertible and taxable bonds of Rs 10 lakh each aggregating to Rs 2,000 crore for a period of 10 years through private placement, in the first tranche, bonds amounting to Rs 500 crore was floated with a green shoe option to retain over subscription up-to Rs 1,500 crore on BSE electronic bidding Platform, said the release.

A total bid amount of Rs 1,887 crore was received with a coupon rate in the range of 7.93 per cent p.a. to 8.5 per cent p.a. and it was decided to accept subscription up-to Rs 1,475 crore at a coupon rate of 8.09 per cent p.a.

NT Bureau