India’s SCCL firms up capex to spread operational hinterland
KOLKATA (miningweekly.com) – India’s Singareni Collieries Company Limited (SCCL) has drawn up plans for $1.40-billion capital expenditure over the next five years to extend its footprint beyond its traditional mining operations around the southern state of Telengana.
The plan includes securing at least seven coal blocks in other states and ramping up its total coal production to 85-million tons a year by 2023, from 62-million tons a year at present.
The Telengana government has written to the Indian government seeking allotment of new coal blocks in other states under the preferential allotment dispensation outside the mandatory auction route permitted for government owned companies, company officials said.
SCCL has already bagged the Naini coal block in the eastern state of Odisha and is seeking another six coal blocks in Odisha and Chhattisgar. Once all these blocks were bagged and operationalised, the miner would have the potential to reach coal production levels of 100-million tons a year, the officials added.
Even as the miner was eyeing coal blocks outside its traditional operational hinterland, the Telengana government has assured SCCL that it would facilitate opening up of at least 48 new mines within the state over the next few years, the officials said.
The additional coal production would not only enable the miner to offer higher volumes for merchant sales and mitigate dry fuel shortages across the country, but also rapidly ramp up its own power generational capacity and enhance profitability.
SCCL is a joint venture of the Telengana and Indian government with the former holding 51% equity and the balance vested with the federal government.
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