Singareni to enter iron ore production sector: CMD
The Singareni company, which has so far been limited to the state of Telangana, plans to launch coal blocks in other states besides the thermal and solar power sector as part of its business expansion, as well as other mineral industries in the state of Telangana, announced by CMD Shri N. Sridhar.
He unveiled the national flag at the 73rd Republic Day celebrations at Singareni Bhavan, Hyderabad on Wednesday (January 26).
The CMD said the Singareni company was moving towards expansion as many government industries in the country were facing crisis and were heading towards closure in the current scenario.
He said the company had created jobs for more than 16,000 youth in the last seven years and was emerging as the No. 1 company in the country in terms of welfare as well.
Moreover, as per the suggestion of the Chief Minister of the state, C&MD is planning to expand into industries like iron ore mining and sand mining in Telangana, he mentioned.
The company was expanding into other states for the first time in its 133-year history and would start production of coal from the Nine coal block in Odisha state from next April.
He also said that a new blockchain coal block would be set up in the same state soon and the central government was planning to take over blocks in other states where they would be auctioned off.
He said that 12 more new mines would be opened in Singareni in the next five years and hoped that Singareni would reach 100 million tonnes of coal production in the near future.
Although it is only 5 years since the Singareni Thermal Power Station was started, it is 90 per cent more PLF than many other public sector thermal power plants across the country. With being ranked No. 1, he praised our Singareni talent for spreading to the country.
The center is also making a profit of up to Rs 400 crore every year for the company. “We are also able to save millions of rupees on electricity costs due to the 220 MW solar plants started by Singareni,” he said.
Singareni is expected to face stiff competition from the private coal industry in the near future. So from now on, employees are called upon to work for maximum productivity and maximize productivity.
He emphasized the need to focus on business expansion, productivity enhancement and adaptation to the changing times in order for any government agency to survive in the years to come. He called for a reorganization of national service by working towards this.