The Neyveli Lignite Corporation today celebrated its 54th raising day at a function held at the corporate office here in which Chairman-cum-Managing Director A.R. Ansari hoisted the newly launched public sector flag.

The flag was introduced by President Pratibha Patil last month in recognition of the significant role played by the public sector undertakings in the country's economy. With 15 lakh employees, these organisations were contributing 12 per cent of the Gross Domestic Products (GDP).

Speaking on the occasion, Mr. Ansari recounted the travails underwent by the NLC ever since former Prime Minister Jawaharlal Nehru inaugurated the lignite mining operation here on May 20, 1957.

The Chairman said that on the occasion Nehru observed that “there should be a push towards industrial development. This lignite project promises to give that push.” He hoped that with NLC could rise to the Maha Navratna status by increasing its power generation capacity to 15,000 MW and turnover to Rs 20,000 crores.

He categorically said that the NLC was aggressively pursuing its goal of tapping renewable sources of energy such as wind and solar power. However, it would not venture into hydro-power and nuclear power projects because of long their gestation period and capital-intensive nature.

Mr. Ansari underscored the point that in the highly competitive environment the NLC would have to focus on achieving cost effectiveness or in other words cutting the cost of production and hoped that the officials and employees would cooperate with the management in this endeavour.

NLC Directors B.Surender Mohan, R.Kandasamy, K.Sekar, J.Mahilselvan and S.K.Acharya and others participated.

“NLC is aggressively pursuing its goal of tapping renewable sources of energy”