Financial Daily from THE HINDU group of publications
Sunday, Apr 03, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 03, 2005 |
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Corporate
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Performance Singareni Collieries achieves record production in 116 yrs Our Bureau
Hyderabad , April 2 SINGARENI Collieries Company Ltd has achieved its highest-ever production in 116 years at 35.3 million tonnes (mt) during 2004-05. The achievement is significant, especially seen against the backdrop of a loss of 1.1-mt of coal production due to ban on the use of nitroglycerine-based explosives, the company said. The Centre had imposed a ban on the substance from April 1, 2004 due to security reasons, which has hit coal production in underground mines. The company has recorded its annual targeted production of 35 mt for the third consecutive year. It has also recorded an all-time high in coal despatches of 34.7 mt. Of this, 74 per cent (25.7 mt) was to the power sector. It also despatched 14 per cent (4.82 mt) to cement units, the best ever performance in this sector. The company opened two open cast mines at Sattupalli during the fiscal as well as an underground mine at Goleti in Adilabad district with a total capacity of 1.2 mt, a release said. The overall welfare expenditure during the year per employee was around Rs 36,152 against Rs 32,865 in the previous year, an increase of 10 per cent. The number of accidents involving fatalities was also at an all-time low in the last 33 years, it added.
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