HYDERABAD: Singareni Collieries Company Limited (SCCL), ridiculing criticism that it was not financially stable, pointed out in a statement here on Saturday that, on the contrary, it was making rapid strides and were ready to start operations in Odisha’s Naini coal block.
In an apparent response to BJP’s criticism of coal miner and its functioning, the SCCL said that it had Rs 11,665 crore in deposits and made an annual net profit of around Rs 2,000 crore. With Rs 15,500 crore due from government departments and entities, its financial strength is around Rs 27,000 crore, SCCL said, adding that there was no need for taking loans to pay salaries.
SCCL chairman and managing director N. Sridhar, during a review of the progress of coal mining at a meeting in Bhubaneswar on Saturday, said that SCCL was ready to begin operations at Naini coal block.
At the meeting chaired by Union coal secretary Amrit Lal Meena, he sought clearances from the Odisha forest department to start operations after enumeration of trees that need to be removed from the coal block area. The SCCL said Meena has directed the Odisha government to take steps to ensure that the process is fast-tracked.
