Hyderabad: Singareni Collieries Company Limited (SCCL) Chairman and Managing Director N Sridhar said the competition was growing in the country’s coal market and to face it, SCCL was ready for business expansion and substantial increase in production. “Singarenians are ready to face any challenge,” he said.
Speaking on the occasion of the 100th Singareni Emergence Day celebrations at Hyderabad Singareni Bhavan, he said before 1998, Singareni incurred losses for 20 years continuously and was on the way to closure, but thanks to the collective efforts of employees and officials, it came out of the red.
For the past 20 years, the company has been earning profits, particularly after formation of Telangana State, and with the support of Chief Minister K. Chandrashekar Rao, it has grown to be profitable and topped the country, Sridhar said.
Despite the difficult situation due to Covid, employees were paid two types of bonuses amounting to Rs. 540 crore, besides continuing with all welfare activities as usual, he said.
He said due to the changed coal market scenario, SCCL was facing competition not just from Coal India but also from private developers and to face such situation, its production cost has to be reduced. “For this, machinery and employees have to work towards increase in production,” he said.
Business expansion was being taken up to sustain the same levels for another 100 years, he said, adding that along with the 1200 megawatts thermal power plant, solar plants are also being constructed. Production from two coal blocks in Odisha will also begin and all these business expansion plans are part of the long term plans of the SCCL, he said.
Sridhar explained that the setting up of solar power plants at Singareni will be completed by 2021 and 300 megawatts of power production would begin, and apart from these, another 300 megawatts from floating power plants was also being planned.
He said that SCCL was at the forefront of welfare activities and was better than any company in the country. “More profits can be generated only by increasing production. With these profits, the company will progress and welfare activities can be taken up,” he said.
Sridhar felicitated the best employees – DGM (Marketing & Strategy Planning) Marepalli Venkateshwarlu, DGM (Law) N. Venkateshwar, Law Department PA B. V. Padmavathi, and S&PC Security Gade Hareram.
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