Singareni keen on expansion.

Singareni Collieries Company Ltd. will push forward a multi-pronged growth strategy this fiscal adding more mines, including assets abroad, deploying technology to boost utilisation of existing facilities and a possibly foray into iron ore mining.

A shot in the arm is its robust growth in 2014-15. Coal production was 52.54 million tonne, which was better than the revised target of 52.50 MT as well as four per cent more than the 2013-14 achievement.

Production in the quarter ended March 31 was the highest ever, at 17.29 MT. Compared to the corresponding quarter of 2013-14 this was 5.7 per cent more. Gross turnover in 2014-15 was Rs.14,083 crore, a 19 per cent increase over previous fiscal’s Rs.11,870 crore.

Chairman and managing director N. Sridhar told presspersons recently that expression of interest for acquiring coal mines in South Africa and Indonesia will be floated next week. It is eyeing five MT per year from the overseas assets.

In Telangana, where it has 48 mines, Singareni Collieries has identified 17 new mines (12 open cast and 5 underground) and is looking at also expanding to other States. The company, eyeing 80 MT in next four years, has been allocated a coal block in Talcher, Odisha. It has submitted bid for two blocks in Utkal under auction category.

The company through technology upgradation wants to increase the average utilisation of existing underground mines from 13 to 20 hours a day. Another area of emphasis is reducing the cost of production, he said.

On the collaboration with State Mines and Geology Department for iron ore exploration in Bayyaram, Khammam district, he said a preliminary report, after drilling 10 holes, on the ore grade will be ready in 45 days.


THE HINDU