No plans to privatise Singareni Collieries: Coal minister Kishan Reddy
XCoal and Mines Minister G Kishan Reddy (PTI)
NEW DELHI: The government has no plans to privatise Singareni Collieries Company in Telangana and efforts will be made to further strengthen it, Coal and Mines Minister G Kishan Reddy said on Wednesday.
The coal mining company is jointly owned by the Telangana government and the Union government, and its reserves stretch across 350 kilometres of the Pranahita “ Godavari Valley of Telangana.
Reddy told the Lok Sabha that the government is not planning to privatise any coal mine.
During the Question Hour, the minister also said there are no plans to privatise Singareni Collieries and the government is looking to strengthen it.
He was responding to Congress member Vamsi Krishna Gaddam, who said the company should not be privatised.
Singareni Collieries has proven geological reserves aggregating to 8,791 million tonnes. Currently, it is operating 17 opencast and 22 underground mines in six districts of Telangana with a manpower of around 42,000, according to the company's website.
The Telangana government holds 51 per cent stake in the company and the rest is owned by the Union government.