‘Singareni turnover increased 176 per cent in last nine years’

The company started 14 new mines in the last nine years and that in the next five years, it plans to increase coal production from 67 million tonnes to 100 million tonnes, SCCL Chairman N Sridhar said

Hyderabad: Singareni Collieries Company Limited(SCCL) Chairman and Managing Director N Sridhar said company’s turnover had increased 176 percent in the last nine years under the able guidance of Chief Minister K Chandrashekhar Rao.

Speaking at the State’s tenth formation day celebrations at Singareni Bhavan here on Friday, Sridhar said the company’s turnover before the formation of Telangana was Rs. 11,928 crore and during the last fiscal 2022-23 it stood at Rs. 32,978 crore, a 176 percent growth. Even the profit of the company increased from Rs. 419 crore in 2014 to Rs. 2,184 crore during 2022-23 fiscal, a 421 percent growth, he informed.

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Stating that the company was doing extremely well in coal production and transportation, Sridhar said the company had achieved a 33 percent growth in coal production and 39 percent in coal transportation in the last nine years. The company had started 14 new mines in the last nine years and that in the next five years, it plans to increase coal production from 67 million tonnes to 100 million tonnes, for which 8 new mines would be opened, he said.

Singareni Corporation was generating 1200 megawatts of electricity through the Singareni Thermal Power Station and that it was working towards setting up thermal and solar power stations to increase the current power generation capacity to 4,000 megawatts, he said.