Telangana: Singareni makes moves for global expansion, reserves names for two new subsidiaries
SCCL has reserved names for two new subsidiaries—one for renewable energy projects (SGECL) and another for international critical mineral mining (SGL). The Ministry of Corporate Affairs has approved the name reservations, marking a major global expansion step for the company.
PEDDAPALLI: In view of entering the Green Energy and Critical Minerals sectors, Singareni Collieries Company Limited (SCCL) has reserved names for the establishment of two new subsidiary companies.
As part of its business expansion activities, Singareni has decided to enter into different sectors and has reserved names of two subsidiary companies. For the operation of solar power and other renewable energy plants to be taken up in India and internationally, a subsidiary company name has been reserved as Singareni Green Energy Company Limited (SGECL). Similarly, another subsidiary company name has been reserved as Singareni Global Limited (SGL) to carry out mining of minerals internationally, especially critical minerals, rare earth elements and other such businesses.
For the names of these two subsidiary companies, an application was submitted last month to the Registrar of Companies under the Ministry of Corporate Affairs, and recently, the department officials have informed us through a letter that approval has been granted for reservation of these two names.
The process of reserving the names for setting up these two subsidiary companies has been completed with the special initiative and effort of SCCL Chairman and Managing Director N Balram, officials said.
Meanwhile, responding positively, the Union Coal Ministry’s Under Secretary Pradeep Raj Nayan, in a letter to Singareni Company, stated that they acknowledge the matter of SCCL establishing two subsidiary companies and suggested that those companies should carry out their businesses profitably.
Officials said the company, which has been operating for the last 13 years only under the name of Singareni Collieries Company Limited, was now growing to an international level with two more subsidiary companies, which they termed a matter of pride for Telangana.
