SCCL launches Rs. 20,000-cr investment plans

Singareni Collieries Company Limited Investment

Buoyed by the sterling performance of its coal business in the just concluded fiscal, the Singareni Collieries Company Limited (SCCL) has decided to invest a staggering sum worth Rs. 20,000-cr to achieve a target of 100 metric tons from 60 mt last fiscal. The company has decided to achieve the targeted output by 2020 by opening 25 new mines, seven of them this year, CMD, SCCL, N Sridhar, said adding that the company has already worked out strategies to sustain this growth over the next five years and expects to grow at double digit year-on-year basis. In view of its quest to provide coal with higher grade, it is in the process of setting up 10 coal washeries to be implemented by private players with a revenue share model. Each washery entails investment of Rs.60-100 crore and would be ready by next year and that this year, the company has planned a capex worth Rs.4,000cr, up from Rs. 3,000-cr last year and output of 66 mt up from 60.43 mt. The company expects to meet its investment targets through internal accruals and that out of the 25 mines planned by 2020 seven of them are to be taken up during this year itself.