State-owned Singareni Collieries Company Ltd (SCCL), which is on expansion mode, will invest about Rs 10,000 crore in the next five years, with a target to achieve Rs 34,000-crore revenues by then.
In an interview to PTI, the company’s Chairman and Managing Director N Sridhar said the investment involves expansion of new mines, adding 800 mw to the existing 1,200 mw power plant and setting up 500 mw solar power project.
The firm is poised to clock Rs 24,000-crore income this year from both selling coal and power and aims to take this figure to Rs 34,000 crore in five years.
“We are expanding the existing power plant (of 1,200 mw) by adding 800 mw. We expect the work to start next year. We are also in the process of setting up a 500 mw solar power project,” he said and added: “We are opening 12 new mines which will have capacity of 21 million tonnes per annum.”
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