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SCCL sets record in coal production
The Singareni Collieries Company Limited (SCCL) has achieved a record coal production of 60.43 million tonnes (MT) during 2015-16, a record growth of 15 per cent from 52.54 MT it mined in the preceding financial year. The state-owned mining major, a joint venture of Telangana and central governments, is targeting 66 MT output in the current financial year which began on Friday.
Hyderabad: The Singareni Collieries Company Limited (SCCL) has achieved a record coal production of 60.43 million tonnes (MT) during 2015-16, a record growth of 15 per cent from 52.54 MT it mined in the preceding financial year. The state-owned mining major, a joint venture of Telangana and central governments, is targeting 66 MT output in the current financial year which began on Friday.
It has also drawn up plans to open seven new mines with combined production capacity of 13.8 MT in 2016-17. Announcing these details at a media conference here on Friday, SCCL Chairman & Managing Director N Sridhar said Singareni has set a long-term target to hit 100 MT production mark by 2020.
“To achieve this target, we will open 20 new mines over the next five years with an outlay of Rs 20,000 crore,” he said. Singareni also notched up record numbers in coal dispatch by transporting 58.5 MT, an upswing of 11.5 per cent from the year earlier. Besides, it removed 311 million cubic metres of overburden (OB, achieving 19 per cent growth year-on-year.
On the financial side too, the coal miner crossed the milestone of Rs 1,000 crore profit by posting Rs 1,020 crore profit in 2015-16. This represents more than 100 per cent increase from Rs 490 crore it reported in the previous fiscal. Its gross turnover increased 17.3 per cent to Rs. 16,516 crore for 2015-16 as compared with Rs 14,078 crore in the last fiscal.
The company which also forayed into power generation has synchronised with grid the first unit (600 MW) of its power plant at Jaipur in Adilabad district. “The second unit of same 600 MW capacity will be synchronised by May this year,” the SCCL chief said.
