+
Singareni Collieries aims for Rs. 600 bn turnover in 5 years
POWER & RENEWABLE ENERGY

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

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.

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.

Next Story
Infrastructure Urban

ITCONS Gains on New Rs 3.5 Million Defence Contract

ITCONS E-Solutions is trading at Rs 549.00, up by Rs 12.10 or 2.25 per cent from its previous close of Rs 536.90 on the BSE. The scrip opened at Rs 549.00 and has touched an intraday high and low of Rs 549.00, with 200 shares traded so far.A BSE ‘MT’ group stock with a face value of Rs 10, ITCONS touched its 52-week high of Rs 767.00 on 25 September 2024 and a 52-week low of Rs 166.70 on 5 August 2024. Over the past week, the stock has fluctuated between Rs 560.00 and Rs 510.60. The company's current market capitalisation stands at Rs 3.3 billion.Promoters hold 58.22 per cent of the compan..

Next Story
Infrastructure Urban

Delhi Extends EV Policy Till March 2026

The Delhi government has extended its existing Electric Vehicle (EV) Policy until 31 March 2026, or until a revised version is approved. The decision was made during a Cabinet meeting chaired by Chief Minister Rekha Gupta on Tuesday.According to Transport Minister Pankaj Kumar Singh, the draft of the new policy will undergo broader public consultation before being finalised, prompting the extension to allow time for thorough stakeholder engagement.The consultation process will include inputs from citizens, environmental groups, academic institutions, industry experts, and private firms. Key fo..

Next Story
Infrastructure Urban

Ather Crosses 400 Fast Chargers in Maharashtra

Electric two-wheeler manufacturer Ather Energy announced on Thursday that it has surpassed 400 fast charging points under its Ather Grid network across Maharashtra.The company's fast charging infrastructure now spans 35 cities in the state, including key urban centres such as Mumbai, Nashik, Pune, and Nagpur."Crossing 400 fast chargers in the state is about giving riders the assurance that they'll always find a charger when they need one. As we expand our retail presence, the charging network will continue to grow in tandem to make EV ownership truly seamless," said Ravneet Singh Phokela, Chie..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?