VIJAYAWADA: The AP Mineral Development Corporation (APMDC) generated about Rs 1,000 crore revenue through the coal production and sales from the Suliyari coal block it operates in Madhya Pradesh.
Out of the total Rs 1,500 crore revenue, it got through the sale of coal from the Suliyari mines, the APMDC paid Rs 500 crore towards taxes to Centre and State governments and earned a record Rs 1,000 crore revenue.
Expressing happiness over the achievement in the second year after commencing the production APMDC vice-chairman and managing director VG Venkata Reddy said that the establishment, which is limited for taking up mining activities in AP alone, expanded its operations at the national level because of the encouragement of Chief Minister YS Jagan Mohan Reddy and under the guidance of Minister for Mines Peddireddy Ramachandra Reddy.
“The APMDC kept a target to produce 5 MT of coal from Suliyari block and to generate Rs 1,700 crore revenue in 2023-24. But, we have achieved Rs 1,000 crore revenue by December 28, this year and are hoping that the remaining target will be realised soon,” he said.