The Singareni Collieries Company Ltd (SCCL) is all set for the next phase of expansion and to step up productivity to brace up for growing challenges in the coal sector.
N Sridhar, Chairman and Managing Director, SCCL said, “Competition is growing in the coal sector and to face this competition Singareni is ready to take up business expansion and substantially increase in production. The Singarenians are ready to face any challenge.”
On the 100th Singareni Emergence Day celebrations held at Singareni Bhavan here, he said, “Before 1998, Singareni incurred losses for 20 years continuously and was on the verge of closure. Thanks to the collective efforts of the employees and management, it has come out of losses and for the past 20 years Singareni is earning profits.”
After the formation of Telangana State and with the support of Chief Minister K Chandrashekar Rao, Singareni has grown to be a profitable mining company. Despite the difficult situation due to Covid, employees were paid bonuses amounting to ₹540 crore, he said.
The SCCL has initiated measures to sustain the growth momentum. Production from two coal blocks in Odisha will also begin and all these business expansion plans are aimed at ensuring the future of Singareni.
Sridhar said, along with the 1,200 MW thermal power plant, by 2021, Singareni will have a 300 MW of solar power plants, and in addition another 300 MW of floating solar power projects are now being planned.