SCCL will pay Rs 700 cr bonus to employees: CMD

Khammaam: Singareni Collieries Company Ltd (SCCL) will soon declare a bonus of Rs 700 crore for its workers, informed company’s CMD N Sridhar while addressing the Independence Day celebrations held at Singareni Bhavan in Hyderabad on Tuesday. Sridhar said Singareni is making remarkable progress and is dedicated to the service of the country, and will continue to work with the same dedication.

Sridhar said that the company has set a target of Rs 50,000 turnover with a production of 100 million tonnes of coal from 12 new mines in the next five years.

He stated that under the leadership of Telangana State Chief Minister Kalvakuntla Chandrashekar Rao, no public sector organisation in the country has achieved such a turnover and profits in the last 9 years as the Singareni.

Before the formation of Telangana State, Singareni had made a profit of only Rs 419 crore in 2013-14, but last year it achieved a profit of Rs 2,222 crore. In 2013, the company had paid Rs 83 crore bonus to the workers.

He added that Chief Minister KCR recently praised the progress of Singareni in the Assembly and also announced the payment of Rs. 1,000 crore including profit bonus and Diwali bonus to the workers and Rs. 700 crore before Dussehra festival.

According to the energy needs of the country, today private companies are also coming into coal production, and in the next two to three years, they will have to face tough competition with the private producers, he said.

“In order to survive in this competitive market, we need to reduce the cost of production, increase productivity by using full working hours, and also focus on quality, only then our customers will be with us,” Sridhar said.

Keeping in mind the survival of Singareni, the 1,200 megawatts thermal power plant established by Singareni Company as part of business expansion activities is ranked number-1 among the power plants managed by the state governments across the country, he informed.

Significantly, another 800 megawatt plant is also being set up soon on the same premises.In addition to the current 300 megawatts of solar power, another 240 megawatt capacity plants will be set up to produce a total of 540 megawatts of solar power. With this, the Singareni company is going to provide 2,540 megawatts of electricity to the State from its thermal and solar plants.

He also said that plans have been submitted to undertake 12 new projects in the next five years, of which four projects are going to be started in December this year. He confidently expressed that Singareni would cross the milestone of one hundred million tonnes of coal production by 2029-30.

Therefore, employees, officers and staff should work with dedication and increase productivity and pay attention to quality. Later CMD Sridhar felicitated to best-performing officers at the programme.