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SCCL poised to make big strides
Reversing the trend, the State-run Singareni Collieries Company Limited (SCCL) has come a long way this fiscal 2014-15. Besides registering a growth of about 4 per cent over its 2013-14 production, the SCCL has also achieved the unenviable task of reducing the production costs.
ACHIEVES TURNAROUND
- Production up 4 pc over last year’s output
- Proactive steps boost production in the 4th quarter of 2014-15
- Decreases the cost of coal production
- Contributes Rs 3,748 crore to the exchequer
- SCCL scouring for new coal blocks in the country
- Employees credited for achieving a string of successes
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Khammam: Reversing the trend, the State-run Singareni Collieries Company Limited (SCCL) has come a long way this fiscal 2014-15. Besides registering a growth of about 4 per cent over its 2013-14 production, the SCCL has also achieved the unenviable task of reducing the production costs.
Three quarters down the financial year, there were doubts that whether the company would make its set target of producing 55 Million Tonnes (MT). However, it made a huge turnaround by achieving the revised target of 52.50 Million Tonnes (MT) comfortably. In spite of the revised target, the company has produced 2 MT more than it achieved during the 2013-14 fiscal.
After the proactive steps adapted by the management, the production went up leaps and bounds registering a record 17.29 MT (an increase of 5.7 per cent) during the fourth quarter of 2014-15. This is said to be the highest ever in any quarter in the history of the company.
With coal production was up 4 per cent, coal dispatches were up 10 per cent, Over Burden (OB) was up 54 per cent, Gross turnover was up Rs 19 crore and company’s contribution to the exchequer was up Rs 16.31 crore, the company has achieved success on all fronts compared to the figures of last fiscal. The company contributed a whopping Rs 3,748 crore to the exchequer by way of royalty, sales tax, corporate tax and other levies as against last fiscal’s Rs 3,212 crore.
Most significantly, the company registered a decrease in the cost of coal production. The average cost of coal production during the 2014-15 is Rs 1,997 per tonne. This was a considerable improvement compared to Rs 2,137 per tonne during the previous financial year. This would make a huge difference in the outcome of the company’s profits, sources in the SCCL said. The company also contributed 20.3 per cent of South Central Railways’ freight earnings during the financial year. It was 16.9 per cent during the last fiscal.
Having got the Naini coal block in Orissa, which has 500 MT of reserves, recently, the SCCL is looking for more coal blocks in India so that the production capacity can be enhanced from the current 52 MT to 80 MT in the next four years. Buoyant over the growth in production, the SCCL chairman and managing director N. Sridhar said that the company will announce Expression of Interest (EoI) for exploration of coal mines in other countries such as South Africa, Australia and Indonesia. Besides this, the company will also begin exploratory studies for iron ore mining in Bayyaram. He gave entire credit of the success to the employees of coal mining spread across four districts – Khammam, Warangal, Adilabad and Karimnagar.
