The strike at Neyveli Lignite Corp (NLC) in Tamil Nadu ended today with nearly 15,000 workers resuming duty after an agreement over wage revision was reached between them and the management.
The management of the Tamil Nadu-based Miniratna lignite-based power producer said that workers resumed duty after it agreed to an early cut-off date for additional increment in allowances.
This will result in an additional Rs 614-crore expenditure on wage revision, it added.
The NLC workers, owing allegiance to the Dravida Munnetra Kazhagom-supported Workers Progressive Union and the Pattali Thozhir Sangam, had launched the strike on the night of June 30 to demand higher wages.
?We have agreed to an early cut-off date for one additional increment of 3 per cent from September 2009, besides a 71 per cent hike in allowances. Also, the company agreed to give one increment from June 2007. All these will result in Rs 614 crore additional financial implication on the company,? a senior NLC official told PTI over the phone.
These are the highest benefits given to workers by any PSU, including Navratnas and Maharatnas, he added.
However, production remained normal during the strike period and the power plant recorded an average 2,000-MW production every day with the help of supervisors and 4,000 officers, the official said.
The lignite-based power plant employs about 19,000 persons, including 15,000 workers.
NLC plans to augment its installed capacity of 2,490 MW to about 4,300 MW by 2012. It is currently executing a 1,000-MW project at Tuticorin in Tamil Nadu, a 500 MW extension of the Neyveli plant, and a 50-MW windpower project.
It registered a profit after tax of Rs 1,604.86 crore in FY?10, compared to Rs 1,046.01 crore in the previous year.