FCC

Singareni Collieries aims for Rs. 600 bn turnover in 5 years

2024-09-24

The Singareni Collieries Company Ltd (SCCL) aims to achieve a turnover of Rs 60,000 crore within the next five years, up from Rs 37,500 crore recorded in 2023-24, through business expansion and diversification efforts.

Chairman and Managing Director N. Balaram announced these plans during the ‘Praja Palana Dinotsavam’ celebrations, where he also unfurled the national flag. He mentioned that the company is looking to diversify its operations in collaboration with the State government, which includes initiatives in solar power generation in Rajasthan and pumped storage hydroelectric generation in closed or abandoned opencast mines.

Additionally, SCCL plans to enhance its existing thermal power plant, currently operating at 2x600 megawatts, by adding an 800 MW unit. The company is also set to establish a new 2x800 MW thermal power plant near its Naini coal block in Odisha, alongside the development of 800 MW floating solar power plants, a green hydrogen plant, and a battery storage system aimed at ensuring a sustainable future.

Balaram noted that over 50% of the company’s workforce consists of youth, emphasizing that SCCL can supply coal to clients at competitive prices while enhancing productivity and quality to alleviate the burden on power consumers.