Singareni Collieries aims Rs 50K-cr turnover in 5 yrs

Hyderabad Out of 200 public sector units (PSUs) in the country, Singareni Collieries Company Limited (SCCL) is developing with remarkable progress and is dedicated to the service of the country. The company is moving forward with goal of achieving 12 new mines, coal production of 100 million tonnes and a turnover of Rs 50,000 crore, SCCL Chairman and Managing Director N Sridhar said.

He was addressing the employees after hoisting the national flag on the occasion of Independence Day celebrations at Singareni Bhawan, Hyderabad on Tuesday. “Under the leadership of Telangana Chief Minister K Chandrasekhar Rao, SCCL has achieved huge turnover and profits in the last nine years. This is a record which no other PSU in the country has accomplished,” the CMD said.

“Before the formation of Telangana, the SCCL had made a profit of only Rs 419 crore in 2013-14, but last year it made a profit of Rs 2,222 crore. Similarly, only Rs 83 crore was paid as bonus to the workers in the year before formation of Telangana, and this year a bonus of Rs 700 crore will be paid to the workers soon,” he informed.