Coal news and updates

SCCL aims for ₹27,000 cr. turnover this fiscal from coal, energy sale

The management of Singareni Collieries Company Ltd (SCCL), which is into thermal and solar power generation as diversification besides the core activity of coal mining, is aiming for a record turnover of ₹27,000 crore from coal and energy sales this financial year.

Confidence of the company to achieve the target stems from its performance in the first three quarters of the current fiscal in which the company has recorded a turnover of ₹19,002 crore from coal and energy sales against ₹9,525 crore achieved during the same period in the previous financial year hit by COVID pandemic and its impact on the economy.

The company, as part of its plans to reach the production target of 68 million tonnes, has fixed a daily target of mining at least 2.2 lakh tonnes of coal till March 31. As of December-end, three quarters of the fiscal, Singareni has achieved a production of 46.52 million tonnes coal.

Further, the management has also decided to scale-up the work hours of heavvy machinery used in mining to 18 hours a day from the present 13-14 hours a day to achieve the production and turnover targets. Except in December (2021-22), the coal production was higher in the remaining eight months of the three quarters of the fiscal compared to the first nine months of the 2020-21 fiscal. The production of coal in December 2021 was 5.65 million tonnes and against 5.72 million tonnes mined in December 2020.