HYDERABAD: Ahead of Dasara, the state government has announced a bonus of Rs 1,95,610 for the regular employees of Singareni Collieries Company (SCCL).
Chief Minister A Revanth Reddy and Deputy Chief Minister Mallu Bhatti Vikramarka on Monday announced that 34 per cent of the profits made by the company will be paid to the employees and workers as bonus, including those who are working on contract basis.
According to the deputy chief minister, Singareni made Rs 6,394 crore profits after paying tax in 2024–25. Of this, the government has earmarked Rs 4,034 crore for further investments for expansion.
Of the remaining Rs 2,060 crore funds, the government will disburse Rs 819 crore to the employees and workers as bonus. Each worker would receive Rs 1,95,610 as bonus, benefitting around 41,000 permanent employees. Similarly, each of the 30,000 contract workers will receive Rs 5,500 as bonus.
Speaking to reporters, the chief minister said that the state government will also give Diwali bonus to Singareni employees. He asserted that the state government is committed to the welfare of the company employees and promoting SCCL as a profit-making company in the future.
Recalling the unwavering support of the Singareni employees during the Telangana movement, Revanth said that the government has recognised the services of the Singareni
workers who played a significant role in the achievement of the separate state. The chief minister reiterated that the government will promote Singareni as a competent company on par with the corporate industry. He praised the Singareni workers for working hard and helping the company earn more profits every year. Since the company is earning profits, the government decided to share the profits with the workers every year, he said.
The deputy CM said that in addition to coal, Singareni will expand into critical minerals mining. “Recognising the global demand for critical minerals, Singareni will not limit itself to coal mining. The government has decided to expand Singareni’s expertise into broader mining sectors,” he said.
“Singareni has secured tenders for copper and gold mining in Karnataka. It will conduct exploration and excavation to assess reserves. To facilitate Singareni’s expansion, consultancies like PWC and KPMG have been engaged. The government aims to make Singareni a shining example of success,” he elaborated.
Describing Singareni as the soul of Telangana, Vikramarka said that the government is making efforts to reclaim two coal blocks which were auctioned earlier. “During the previous government, two coal blocks in the Singareni region were auctioned to private individuals due to the state’s non-participation in central government coal mine auctions, causing losses to Singareni. The current government is exploring all options to recover these blocks and has already written to the Union government,” he said.