Business Daily from THE HINDU group of publications
Thursday, Aug 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Aug 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Human Resources Industry & Economy - Coal States - Andhra Pradesh Singareni workers to get 16% bonus Our Bureau Hyderabad, Aug. 20 Employees of the State-owned mining company Singareni Collieries have been rewarded with a performance-linked bonus of 16 per cent for 2008-2009. This follows a good performance with the company recording a profit of Rs 176 crore. This announcement is one per centage point more than the last year’s bonus and results in payment of about Rs11 crore to be made in the first week of September. Payment will range from Rs 5,000 to Rs 20,000 to each of 72,000 plus employees of the collieries. The Andhra Pradesh Labour Minister, Mr. G. Vinod, announced this after a meeting he had with the Chief Minister, Dr. Y.S. Rajasekhara Reddy. It was also decided that Rs 5 lakh would be paid as ex-gratia to the affected family in case of any accidental death in the collieries. Such enhanced amount would be in addition to the usual terminal benefits and other compensation package. NEW PLANTThe Minister said that a 600 MW capacity pit-head thermal plant would be set up at Jaipur in Adilabad district with an outlay of Rs 2,700 crore. Located near Godavarikhani mines, this will be set up through a public-private partnership (PPP) initiative. The Chief Minister will lay the foundation stone for the new power project in November, he said. Outlining Singareni plans, Mr Vinod said it is proposed to increase the operational area and step up production from the targeted 43 million tonnes to 44 mt, thereby exceeding the initial projections. More Stories on : Human Resources | Coal | Andhra Pradesh
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