Singareni achieves target, set to increase revenue as well
The SCCL management had stipulated an annual coal production target of 70 million tonnes for its 11 coal mining areas for the financial year 2023-24.
Hyderabad: The Singareni Collieries Company Limited (SCCL) managed to achieve the annual coal production target of 70.02 million tonnes during the current fiscal(2023-24) ending on March 31.
The SCCL management had stipulated an annual coal production target of 70 million tonnes for its 11 coal mining areas for the financial year 2023-24.
According to company officials, the annual coal despatch touched 69.86 million tonnes, whereas, 420.32 lakh cubic metres of overburden were removed during the fiscal.
It had set itself a huge task of mining 14 million tonnes of coal in February and March to reach the target of 70 million tonnes of coal production for the current financial year.
The company management has reportedly fixed a target of 72 million tonnes for the financial year 2024-25. The Singareni has produced 67 million tonnes of coal during previous financial year (2022-23).
According to officials, the company would have surpassed the 70 million tonnes target easily if it managed to start production in Naini coal block situated in Odisha.
The company anticipated to increase production by 6 million tonnes from its Naini coal block, 3 million tonnes each from KV opencast in Kothagudem area and Ramagundam opencast, 1 million tonnes from JK opencast in Yellandu area, and 0.4 million tonnes from Goleti opencast in Bellampally area, as well as 0.4 million tonnes from Goleti opencast in Bellampally area.
In fact, in the first quarter of the current financial year (April to June), coal production by Singareni stood at 171 lakh tonnes, exceeding the target of 167 lakh tonnes and registering a growth of 102 percent.
The first quarter achievement gave a lot of boost to the company, but due to various reasons the production could not sustain in rest of the quarters and it has to satisfied with 70 million tonnes coal production.
Meanwhile, Singareni’s revenue is likely to touch Rs.37,000 crore during the financial year, a 12 percent increase compare to the last financial year(2022-23), which saw a revenue generation of Rs.33,000 crore.
Out of the Rs.37,000 crore, the company would be earning Rs.32,500 crore through the sale of coal and Rs.4,500 crore through the sale of electricity generated by the Singareni thermal power station.
