NLC India Ltd appoints Engineers India Ltd as Project Management Consultant for Methanol Project

As part of the diversification initiative, NLCIL, a Navratna PSE functioning under Ministry of Coal is planning for indigenous methanol production as per Atmanirbhar Bharat vision of Government of India and proposes to set up Methanol Project using Lignite at Neyveli,Tamilnadu with a capacity of 1200 Tonnes per day (0.40 MTPA) at a capital cost of about Rs. 4400 Crore. This landmark project, first of its kind, is expected to be commissioned during 2027.

NLCIL has requested the Ministry of Coal to include the project in the Centre's proposed Production Linked Incentive Scheme, under which a financial incentive would be provided for every unit of production sold.

NITI AAYOG has earlier recommended to implement the project on fast track mode and will be monitoring the implementation of it.

EIL, a Navratna PSU functioning under Ministry of Petroleum and Natural Gas, has been engaged as Project Management Consultant for this prestigious Project. EIL's vast experience in Hydrocarbon sector coupled with NLCIL's strong project implementation team and experience shall ensure that this landmark project is successfully turned into a reality within anticipated timeline.

Shares of NLC India Limited was last trading in BSE at Rs. 67.15 as compared to the previous close of Rs. 68.80. The total number of shares traded during the day was 310097 in over 3676 trades.

The stock hit an intraday high of Rs. 70.00 and intraday low of 66.05. The net turnover during the day was Rs. 21124497.00.

Source : Equity Bulls

Keywords

NLCIndia INE589A01014 Appointment EngineersIndia ProjectManagementConsultant MethanolProject