Business and Economy in Neyveli

Neyveli Lignite Corporation
At present, the economy of the Neyveli Township is mainly serviced by NLC, small and medium industries, commercial banks and other industries associated with NLC. The small and medium industries involved in the city include cashew nut industries, weaving industries, cattle breeding, chit funds, bricks industry and so on. Holding a total area of 54 sq. km, the Neyveli Township largely depends upon the lignite mines and thermal power stations located in the city. The Government has mainly established the township for the purpose of the employees in the corporation.
Basic Industries in Neyveli
In order to maintain the standard of living of the people, the employees of Neyveli are offered compensation from the Central Government. Further, the sustainable growth of Neyveli Lignite Corporation has offered great contribution to India’s social and economic development. The NLC holds two open cast mines, two Pithead Thermal Power Stations, Fertilizer Plant, Briquetting & Carbonization Plant, Research & Development Plant and much more. Now, let us have a quick glance at some of the basic industries in the city of Neyveli below:
Lignite Mines

Thermal Power Station

- Software Based Burner Management System
- Hydrogen-Cooled Generator
- Tallest Tower
- Boiler cleaned using hydrofluoric acid
Agriculture in Neyveli
Agriculture is the major occupation in the city that contributes great revenue and increases the growth of the economy. Recently, the NLC has ventured into the production of humic acid sold under the brand name “Humi Gold”. This product is an organic water-soluble humid substance that is widely used in the field of agriculture and horticulture. The product acts as a good plant growth stimulant as well improves the soil fertility to a great extent. The Neyeli Lignite Corporation has introduced the humid substance to develop the agricultural sector in the city. It contains a number of plant nutrients such as Sulphur, Manganese, Zinc, Boron, Nitrogen, Calcium, Sulphur and more.
Chit Funds of Neyveli
A
chit fund is a type of saving scheme in India and such chit fund
schemes are conducted by registered financial institutions. Chit funds
play a very significant role in developing the lives of people across
the country financially as they provide easy access to credit. Here are
some of the popular chit fund firms that operate in Neyveli Township.
Jayapriya Chit Funds (P) Ltd
Address: Jayapriya Building, No 30, Main Road,
Neyveli - 607802
Telephone: (04142) 262392 / 93 / 262792 / 93
Fax: (04142) 262493
Mobile: 9360272740
Shriram Chits Tamilnadu Pvt Ltd
Address: No 2, Type 3 Ae Quarters,
G K Colony, Neyveli,
Neyveli - 607802
Telephone: (04142) 262364 / 252753
Dhanalakshmi Srinivasan Chit Funds (P) Ltd
Address: CD-Complex, Kumbakonam Main Road,
Gandhi Nagar Post, Vadakuthu, Panruti T.K,
Neyveli - 607802
Telephone: (04142) 256353
Anandha Jothi Chit Funds Private Limited
Address: 5a/137 Main Road,
Neyveli – 607802
Sathiyam Chit Funds Private Limited
Address: 54/119-C, Cuddalore Road, Neyveli,
Neyveli - 607802
Telephone: (04142) 262771
The Kumbakonam Mutual Benefit Fund Ltd
Address: No 234 Ksr Complex,
Mandharakuppam Opposite State Bank,
Cuddalore Main Road,
Neyveli – 607802
Telephone: (04142) 263444
B G M Chits Private Limited
Address: 11-A, Block-17, M G Road,
Neyveli - 607802
Telephone: (04142) 253270
Chit Funds of Neyveli

Jayapriya Chit Funds (P) Ltd
Address: Jayapriya Building, No 30, Main Road,
Neyveli - 607802
Telephone: (04142) 262392 / 93 / 262792 / 93
Fax: (04142) 262493
Mobile: 9360272740
Shriram Chits Tamilnadu Pvt Ltd
Address: No 2, Type 3 Ae Quarters,
G K Colony, Neyveli,
Neyveli - 607802
Telephone: (04142) 262364 / 252753
Dhanalakshmi Srinivasan Chit Funds (P) Ltd
Address: CD-Complex, Kumbakonam Main Road,
Gandhi Nagar Post, Vadakuthu, Panruti T.K,
Neyveli - 607802
Telephone: (04142) 256353
Anandha Jothi Chit Funds Private Limited
Address: 5a/137 Main Road,
Neyveli – 607802
Sathiyam Chit Funds Private Limited
Address: 54/119-C, Cuddalore Road, Neyveli,
Neyveli - 607802
Telephone: (04142) 262771
The Kumbakonam Mutual Benefit Fund Ltd
Address: No 234 Ksr Complex,
Mandharakuppam Opposite State Bank,
Cuddalore Main Road,
Neyveli – 607802
Telephone: (04142) 263444
B G M Chits Private Limited
Address: 11-A, Block-17, M G Road,
Neyveli - 607802
Telephone: (04142) 253270