1 month ago
Kishan Reddy blames BRS, Cong for Singareni's financial crisis
Union Minister G Kishan Reddy has blamed the BRS and Congress governments in Telangana for the financial troubles of Singareni Collieries Company Limited (SCCL), South India’s largest coal producer.
The company's debt has reached Rs 54,000 crore, which is a very high amount for a public sector enterprise in India.
The Central government under Narendra Modi has supported SCCL by allocating coal blocks and providing financial relief.
However, the state governments have not taken initiative to operationalize these blocks.
Reddy urged the Telangana government to award the PKOC block to SCCL, which would create jobs and generate significant revenue.
Union Minister G Kishan Reddy blamed BRS and Congress for Singareni’s financial troubles.
SCCL's outstanding debt has reached Rs 54,000 crore.
The Central government has provided financial relief and allocated coal blocks to SCCL.
The Telangana government has not taken initiative to operationalize the Naini coal block.
Reddy urged the Telangana government to award the PKOC block to SCCL for job creation and revenue generation.
- Who
- Union Minister of Coal and Mines G Kishan Reddy
- What
- Blamed BRS and Congress for Singareni’s financial mess
- Where
- New Delhi
- When
- Addressed the media on Monday
- Why
- To highlight the financial troubles and lack of action by state governments
BJP's Perspective
State Governments' Perspective
Allocation of Coal Blocks
BJP's Perspective
The Central government under Narendra Modi has allocated coal blocks transparently and supported SCCL, including the Naini coal block in Odisha and resolving legal obstacles for the Tadicherla-2 block.
State Governments' Perspective
The BRS and Congress governments in Telangana have failed to secure new coal blocks for Singareni, leading to financial troubles.
Operationalization of Coal Blocks
BJP's Perspective
The Telangana government showed no initiative to operationalize the Naini coal block allocated by the Central government, and production only began in 2024 after the BJP came to power in Odisha.
State Governments' Perspective
The state governments have not provided sufficient evidence or explanation for their inaction on operationalizing the coal blocks.
Key facts
- Singareni Collieries Company Limited (SCCL)
- South India’s largest coal producer
- Outstanding Debt
- Rs 54,000 crore
- Central Government Support
- Provided Rs 525 crore for development and imposed a moratorium on Rs 684 crore of debt
- Naini Coal Block
- Allocated to Singareni in 2015, operationalized in 2024
- PKOC Dip Side Extension
- Recently made available for auction
- Potential Jobs
- 6,500 jobs
- Potential Turnover
- Rs 1.95 lakh crore
- Potential Royalty
- Rs 40,000 crore
Quotes
G Kishan Reddy
Union Minister of Coal and Mines, India
“"lack of quality coal, and growing unpaid bills from power generation companies haunting Singareni’s woes," he said.”
thehansindia.com
“"It is an unprecedented figure for any public sector enterprise in India."”
thehansindia.com
Sources
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