2053.93 lakh vide sanction Order No.106/2010-NLP9NL) dated 23.12.2010. The time frame for completion of the project is 24 months from the date of issue of the sanction order. So far a total amount of Rs.1590.66 lakhs (90%) by Ministry of DONER and 10% by the Government of Nagaland had already been released in 1st and 2nd installment leaving a balance of Rs. 463.27 lakhs. An average of 50% of the work has been completed till date. (9) Oil and Gas Nagaland has good prospect for extraction of Oil and Gas. Champang Oilfield has already been confirmed and ready for extraction. Canoro Resource Ltd has completed its Seismic Survey in Mokokchung District. Asian Oilfield Ltd in collaboration with NSMDC carried out Seismic Survey in Wokha, Dimapur and Peren Districts but suspended by Government and could not be restarted. The State Government shows its desire to Product Sharing Contract at an agreed percentage which will require Share Capital etc. NSMDC therefore, proposes to open a Corpus Fund, to be utilized when the right time comes. Without starting a Corpus Fund, the State Government will face too much burden to contribute its share capital in one go. However, no fund is allocated during 2012-13. (10) Mineral Based Industries. Some Multi National Company may come in to set up mega Cement Plant in the near future with Nimi/Laluri Limestone resources. Nagaland Government has indicated her desire to have a small share. A 10% share will amount to Rs.50.00 crore to Rs.100.00 crore. State Share Contribution for such projects in one installment will be too heavy. However, no fund is allocated during 2012-13. The total Budget Estimate for Annual Plan 2012-13 is kept Rs.550.00 lakh against action plans given above. ACTIVITIES PROPOSED AND ITS DETAIL HEADWISE BREAK-UP FOR 2013-14 Nagaland State Mineral Development Corporation Ltd. (NSMDC), a fully State owned Corporation having its main objectives as
2053.93 lakh vide sanction Order No.106/2010-NLP9NL) dated 23.12.2010. The time frame for completion of the project is 24 months from the date of issue of the sanction order. So far a total amount of Rs.1590.66 lakhs (90%) by Ministry of DONER and 10% by the Government of Nagaland had already been released in 1st and 2nd installment leaving a balance of Rs. 463.27 lakhs. An average of 50% of the work has been completed till date. (9) Oil and Gas Nagaland has good prospect for extraction of Oil and Gas. Champang Oilfield has already been confirmed and ready for extraction. Canoro Resource Ltd has completed its Seismic Survey in Mokokchung District. Asian Oilfield Ltd in collaboration with NSMDC carried out Seismic Survey in Wokha, Dimapur and Peren Districts but suspended by Government and could not be restarted. The State Government shows its desire to Product Sharing Contract at an agreed percentage which will require Share Capital etc. NSMDC therefore, proposes to open a Corpus Fund, to be utilized when the right time comes. Without starting a Corpus Fund, the State Government will face too much burden to contribute its share capital in one go. However, no fund is allocated during 2012-13. (10) Mineral Based Industries. Some Multi National Company may come in to set up mega Cement Plant in the near future with Nimi/Laluri Limestone resources. Nagaland Government has indicated her desire to have a small share. A 10% share will amount to Rs.50.00 crore to Rs.100.00 crore. State Share Contribution for such projects in one installment will be too heavy. However, no fund is allocated during 2012-13. The total Budget Estimate for Annual Plan 2012-13 is kept Rs.550.00 lakh against action plans given above. ACTIVITIES PROPOSED AND ITS DETAIL HEADWISE BREAK-UP FOR 2013-14 Nagaland State Mineral Development Corporation Ltd. (NSMDC), a fully State owned Corporation having its main objectives as
Annual%20Administrative%20Report%202012-13.docx