Geological survey of blocks completed, tenders to be called soon
No takers yet for the rest of the five captive minesSCCL reports profit of Rs. 350 crores for 2005-06Record production of 36.13 million tonnes this year
HYDERABAD: Two of the seven "captive coal mines" identified in the State-owned Singareni Collieries Company Limited for being offered to private parties, have been allotted to the Andhra Pradesh Power Generation Corporation by the Union Ministry of Coal.
The APGenco, the main supplier of power to the State has 3,000 MW out of its 6,500 MW installed capacity under thermal stations, daily requiring a huge quantity of coal as fuel.
The undertaking has just completed a geological survey of the blocks allotted, and is likely to call tenders to open the mines and produce coal.
However, no party has come forward to take the rest of the five captive mines due to various reasons, including the huge investment required to exploit them.
Meanwhile, SCCL has reported a sterling performance during 2005-06, with a profit of Rs. 350 crores and a record production of 36.13 million tonnes, the best ever in its 117-year history.
This is the fourth consecutive year that the company has achieved the targets set after the spectacular turnabout in 2002-03.
The coal production by Singareni registered a growth rate of 2.35 per cent over that of the previous year.
A Singareni official said the profit would have been much higher for 2005-06, but for the outgo towards the commitments under the Seventh Wage Board agreement.