KCR praises Singareni Collieries for top position
Hyderabad, Jan 18 (INN): Telangana Chief Minister K. Chandrashekar Rao has congratulated the management of Singareni Collieries Company Limited (SCCL) for achieving the top position in the country in coal production.
SCCL Chairman and Managing Director N. Sridhar called on the Chief Minister at his camp office on Monday and handed over a cheque of Rs. 66.42 crore towards dividend from company's profits for the financial year 2014-15. SCCL Director Ramesh Babu, General Manager Nagaiah and other officials were also present on the occasion.
SCCL officials informed KCR that that the company has registered profits of Rs. 490 crore and decided to give 7.5% dividend to the stake holders. Therefore, the Telangana Government, which holds 49% stake in the company, got Rs. 63.58 crore as its share in dividend. They also informed that the SCCL produced about 520 lakh tonnes of coal during 2014-15 and fixed a target of 600 lakh tonness for 2015-16. They said that the target is expected to be reached by the end of current financial year.
Speaking on the occasion, the Chief Minister said that the SCCL was also on top in production of thermal power. He assured complete support to the management for the development of SCCL. He advised the officials to explore coal mining opportunities in other States.
News Posted: 18 January, 2016
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