Resurgent Singareni to take up mining in Australia, Indonesia

Mancherial/Ramagundam/Mulugu/ Bhupalpally: “Not much time is left. Voters have to now decide what kind of government they want. Do they want a government that performs and is planning to go from local to national and also international by taking up mining activity in other countries or a party that had done nothing for the state though it was in power for several years in the past,” Chief Minister K Chandrasekhar Rao asked the voters on Friday addressing Praja Ashirvada Sabhas at Mancherial, Ramagundam, Mulugu and Bhupalpally.

CM Chandrashekar Rao said the Congress party had mortgaged 49 per cent share of the Singareni Collieries Company (SCCL) to the Central government.

It is Telangana’s own Company started by the Nizams but the Congress handed it over to Andhra rulers. “There was a Rs-600 crore moratorium on the company.

They could not repay the loans leading to selling off 49 per cent share to the Central government.

The State government requested mining at Bayyaram but the Centre did not listen,” he said.

KCR said Singareni MD had gone to Australia and Indonesia to explore the possibility of taking up mining there. “BJP wants to privatise and Congress may choose to close it down but BRS will not close down Singareni. On the other hand it would be expanded,” he said. He recalled that the government gave 32 per cent share in profits.

Recently it had paid Rs 1,000 crore as Deepavali bonus and share of profit money to all its employees.

The company which was having Rs 600-crore moratorium has now seen a turnaround and the profits now were Rs 2,200 crore. He regretted that Prime Minister Narendra Modi did not accept the request of the state government to give exemption of Income-Tax to the Singareni staff. “Modi is trying to close down the Singareni and forcing to buy coal from his friend Adani from Australia,” he added. He said that if the Congress party wins in Mancherial there will be poker clubs everywhere.