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Tag Archives: telangana to acquire centre’s stake

Telangana Wants To Buy Out Centre’s Stake To Wholly Own Singareni

Review meeting chaired by CM KCR with Sutirtha Bhattacharya, Chairman and MD Singareni Collieries;  S. Narsing Rao, Prl. Secretary to Chief Minister

The Telangana government is keen to acquire 51 per cent stake owned by the central government in Singareni Collieries Company Ltd (SCCL). Telangana, just like some other states, is reeling under severe coal shortage which it needs to overcome to be self-reliant in power in next 3 years, as per its plans. Owning the company wholly would mean Telangana gets full control over the coal it produces, which it can use for it’s own needs. 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. Chief minister,KCR, directed the officials to provide him full details in this regard to take a final decision, according ...

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