Hyderabad: The Singareni Collieries Company Limited (SCCL) will launch large-scale domestic and international projects under a new initiative titled “Singareni Global”, with strategic financial support from the State Bank of India (SBI).
SCCL Chairman and Managing Director N. Balram met SBI Chairman Challa Srinivasulu Setty and senior bank officials in Mumbai to seek low-interest financing for the company’s ventures in critical minerals, renewable energy, and green hydrogen. SBI, already Singareni’s lead banker, assured full cooperation.
Currently, 75% of SCCL employees hold SBI accounts. The bank also offers ₹1 crore in accident insurance cover to each employee. During the meeting, Balram urged SBI to continue its financial backing and formally partner in Singareni’s upcoming expansion efforts. SBI officials expressed readiness to collaborate on future projects.
Balram confirmed that SCCL has secured licenses to explore gold and copper in Karnataka. The company also plans to enter the critical mineral sector both in India and overseas, capitalising on incentives from the central government. Plans include setting up pumped storage units and 5,000 MW of solar and thermal power capacity, along with facilities for green hydrogen and methanol production.
One-time promotions for 150 EP operators
CMD Balram also announced that around 150 Excavation Plant (EP) Operators will receive one-time promotions. Those with two years in category-D will move to category-C, while operators with three years in category-C will advance to category-B. The move follows committee recommendations and applies to employees who pass the required tests, regardless of current vacancies.
