HYDERABAD: Telangana government has announced a bonus to the Singareni employees and workers. On Friday, Chief Minister A Revanth Reddy and Deputy Chief Minister Mallu Bhatti Vikramarka said that it had been decided to pay 33 per cent of the profits made by Singareni Collieries Company Limited as bonus for workers.
Singareni made a profit of Rs 4,701 crore after paying tax in 2023-24. Of this, the government earmarked Rs 2,289 crore for further investments for expansion.
In the remaining funds of Rs 2,412 crore, the government would pay Rs 796 crore to the employees and workers as bonus. Each worker would receive Rs 1.9 lakh as a bonus, which is Rs 20,000 more compared to 2022-23, benefiting 41,837 permanent employees. In 2022-23, the government announced 32 per cent of its profits as a bonus to workers and each worker received Rs 1.7 lakh.
Meanwhile, for the first time in the history of Singareni, the government has decided to extend the nominal bonus to contract employees. The government said Rs 5,000 would be paid to each contract employee as a bonus. There are 25,000 employees working on contract basis.
Speaking to reporters, Chief Minister A Revanth Reddy said the Singareni workers had played a key role in the Telangana movement. By announcing the bonus before the Dasara festival the families of Singareni workers will be happy, he added.
Deputy Chief Minister Mallu Bhatti Vikramarka announced that the government had decided to use the profits made by Singareni for investments. As part of this initiative, Singareni would construct a Super Critical Thermal Power Plant with 2m400 MegaWatt capacity at Naini Block in Odisha.
He said: “Solar Power Plant of Singareni will have an extended capacity of 1,000 Mega Watt. Investments will be made in the construction on 500 Mega Watt pumped storage power plant in Ramagundam, 1x800 MegaWatt Thermal Power Plant in Jaipur of Adilabad district and another 1 x 800 Megawatt Thermal Power Plant which is being development as a joint venture with GENCO”
He also said that a super specialty hospital would be constructed for its workers in Hyderabad and integrated schools in the coal belt area.