Telangana govt wants to acquire Centre’s stake in Singareni
Telangana government is exploring the possibilities of purchasing the entire shareholding of the Union government in the Singareni Collieries Company Limited (SCCL) to make it totally a state owned company.
CM KCR directed the officials to initiate steps in this regard, according to an official press release.
At present, the Telangana state government holds 51% share in the coal mining company and the remaining 49% of the stake is held by the Centre.
While reviewing the activities of SCCL on Monday, KCR is stated to have pointed out that under the current disinvestment policy of the Centre, “the possibilities of owning the company are very bright”.
Besides those located in Telangana, SCCL currently supplies coal to various thermal power plants based in Andhra Pradesh. Supply of coal to these projects could be a contentious issue in future if the company is completely owned by the Telangana government. Already, the governments of the two states were at loggerheads over sharing of power.
The chief minister is also stated to have directed SCCL officials to protect the assets of the company out side Telangana like the lands in Kondapally of Krishna District, Visakhapatnam and Vijayawada. He said the details of assets have to be worked out and the lands are to be fenced.