Telangana Chief Minister K Chandrashekhar Rao hailed that Singareni Collieries Company Limited (SCCL) was the pride of Telangana. Making a statement in the state Assembly, he said today SCCL had registered 15 per cent growth after the formation of the Telangana State, while during the period 2009-14, the growth rate was a mere three per cent.
Equating the labour and sacrifice of workers excavating coal from the depths of the earth in Singareni Collieries with that of army jawans on the Border front, said the State Government, in recognition of their services, had decided to shower them with benefits.
Though underground coal mining was an expensive affair running into losses, he appreciated that the Open Cast mines have been registering profits resulting in the company registering overall profit of Rs 1,066 crore in 2015-16 alone against its average profit earnings of about Rs 400 crore during the five year period beginning 2009.
In recognition of their services, Chief Minister recalled that for the first time in the annals of the country and SCCL history, 23 per cent of profits have been distributed among the workers which works out to a total of Rs 245 crore. On an average, each worker got Rs 54,000 as Deepavali bonus, and this cost the company an additional Rs 303 crore, he added.