Business Economy


Singareni subsidiary companies to run profitably: Coal Ministry

Hyderabad, Dec 7 (UNI) As part of Singareni Company’s business expansion activities, and in view of entering the Green Energy and Critical Minerals sectors, the company has reserved names for the establishment of two new subsidiary companies.

For the operation of solar power and other renewable energy plants to be taken up in India and internationally, a subsidiary company name has been reserved as Singareni Green Energy Company Limited.

Similarly, for carrying out mining of minerals internationally—especially critical minerals, rare earth elements and other such businesses—another subsidiary company name has been reserved as Singareni Global Limited.

For the names of these two subsidiary companies, an application was submitted last month to the Registrar of Companies under the Ministry of Corporate Affairs, and recently the concerned department officials have informed through a letter that approval has been granted for reservation of these two names.

Under the direction of the Chief Minister A Revanth Reddy and Deputy Chief Minister Bhatti Vikramarka Mallu, with the special initiative and effort of the Company Chairman Sri N. Balram, the process of reserving the names for setting up these two subsidiary companies has been completed.

Meanwhile, the union Ministry of Coal has also responded positively regarding the establishment of these two new Singareni subsidiary companies. union Coal Ministry Under Secretary Pradeep Raj Nayan, in a letter to Singareni Company, stated that they acknowledge the matter of Singareni establishing two subsidiary companies and suggested that those companies should carry out businesses profitably.
Overall, it is being felt that a company which has been operating for the last 13 decades only under the name of Singareni Collieries Company Limited is now growing to an international level with two more subsidiary companies, which is a matter of pride for Telangana State.
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