After a record performance last fiscal, Singareni Collieries Company Limited (SCCL) has planned to produce 70 million tonnes (MT) of coal during 2019-20 by taking up new mines.

N Sridhar, CMD, SCCL, set stiff targets for employees to sustain the growth momentum and said Singareni could aim to become a Navaratna or Maharatna.

As some of the underground and open cast mines are closing, efforts would be made to open new mines, including the Naini coal block in Odisha.

Referring to underground mines where the company continues to make some losses, the CMD said the focus will be on reducing the losses further by improving efficiencies.

With Singareni seeking to set up solar power units across nine locations, the focus is on expediting the implementation of these power units.

Last financial year, SCCL closed with a turnover of ₹25,828 crore, up 21 per cent over ₹21,323 crore it logged a year before.

The mining company had produced 64.4 mt up from 62 mt a year before. It is now aiming at a production target of about 70 mt.

In order to further step up output, it is also looking at opening up new coal mines within the State and also expediting the work on the Naini coal block in Odisha.

Over the past few years, the coal output has been steadily ramped up, and the commissioning of the coal-fired thermal power project has boosted the overall revenues of the mining company.

It is in the process of setting up an 800-mw expansion project of the thermal power plant.

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