Coal news and updates

Produce over 2 lakh tonnes of coal, stresses SCCL chief

SCCL CMD N Sridhar speaking in a review meeting with company directors and GMs at Singareni Bhavan, Hyderabad on Tuesday.

HIGHLIGHTS

Strong demand for coal prompts ambitious production targets for Singareni

Kothagudem: In a bid to meet the soaring demand for coal across the nation, N Sridhar, Chairman and Managing Director of Singareni Collieries Company Limited (SCCL), set an ambitious goal for the remaining six months of the financial year. During a special review meeting held at Singareni Bhavan in Hyderabad on Tuesday, Sridhar emphasised the need to produce and transport a minimum of 2.10 lakh tonnes of coal. This move is aimed at surpassing the annual target of 720 lakh tonnes by the end of March.

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Despite facing challenges due to heavy rains during the initial half of the financial year, Singareni demonstrated remarkable resilience. The company achieved a commendable 12 per cent growth in coal transportation, a 7 per cent increase in coal production, and an impressive 15 percent rise in overburden removal compared to the previous year, as reported by Chairman and MD Sridhar.

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During the meeting, Sridhar underscored the importance of the upcoming six months, calling them crucial for enhancing coal production and transportation in line with their targets. He directed the General Managers to address issues such as stagnant water, coal production, and overburden removal by conducting regular review meetings at the area level.

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Sridhar expressed optimism that if all areas meet their assigned targets, Singareni could produce and transport up to 720 lakh tonnes of coal this year. This achievement could translate into a turnover of Rs 40,000 crores and an estimated profit of about Rs 3,500 crores.

In a noteworthy announcement, it was revealed that Singareni employees have received Rs 1,750 crores in wage board arrears, an unprecedented move. Additionally, a profit bonus of Rs 711 crores, equivalent to 32 per cent, will be disbursed before the Dasara festival, as confirmed by the state’s Chief Minister. The Diwali bonus is also slated to be deposited into workers’ accounts before the festival.