Comments
The Telangana Government is exploring the possibilities of buying out the Government of India’s stake in the Singareni Collieries Company Ltd to make it fully state government owned.
Chief Minister K Chandrashekar Rao directed company and government officials to initiate steps towards this.
The decision emerged during a review meeting the Chief Minister had with officials of the mining company, apart from S Narsing Rao, principal secretary to the Chief Minister, here today.
It was also decided to start opening of at least two underground mines by this year—it has some 30-40 prospective mines. It currently produces about 55 million tonnes of coal.
Rao said prospects of the Telangana Government taking over full ownership of the company were bright under the centre’s current disinvestment policy.
The company has a turnover of Rs 12,300 crore. It is setting up two power plants of 600 MW each, which are likely to be commissioned by November 2015.
It was also decided at the meeting that a team of officials from the company and the state government would visit countries such as Australia and Africa to look for overseas coal assets.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.