The Andhra Pradesh Chief Minister, Mr. N. Kiran Kumar Reddy, today announced a “Special Incentive” of 16 per cent of the company's net profit to the employees of Singareni Collieries Company Limited.
According to a statement from the Chief Minister’s Office, Mr. Reddy ordered sanction of special incentive to the employees of Singareni Collieries at the rate of 16 per cent of net profit of the mining company for the year 2010-11.
Special incentive for the year 2010-11 amounts to Rs.56.16 crore which is Rs.15 crore higher than the previous year.
The Chief Minister complimented the management and all the employees of Singareni Collieries for good performance during 2010-11 and urged them to show better performance during the current year.