(a) the details of the plan of Government to expand
the Singareni Colleries Company Limited;
(b) whether any external finance has been sought for
such an expansion;
(c) if so, the details thereof;
(d) whether any attempt to broad bore equity of
Singareni Colleries is on the anvil; and
(e) if so, the details thereof?
MINISTER OF STATE FOR MINES & MINERALS (SMT. RITA VERMA)
(a) to (c): The Government of India have approved the
capital restructuring plan of Singareni Collieries Company
Limited (SCCL) on 21.3.99. The equity investment by
Government of Andhra Pradesh and Government of India in SCCL
as per the approved capital restructuring plan are as under:-
(i) Government of Andhra Pradesh would invest in the equity
of the company an amount of Rs.268.00 crores during the IX
Plan period. This amount of Rs. 268.00 crores includes Rs.
167.00 crores already provided by the Government of Andhra
Pradesh towards equity of the company in 1997-98 and 1998-99
and additional equity investment of Rs. 101 crores to be
provided by the State Government in the equity of the
company during the remaining period of the IX Plan.
(ii) Government of India would invest in the equity of the
company an amount of Rs.257.51 crores during the IX Plan
period. This amount of Rs. 257.51 crores includes Rs.
160.47 crores already provided by the Government of India
towards equity of the company in 1997-98 and 1998-99 and
additional equity investment of Rs. 97.04 crores to be
provided by the Government of India in the equity of the
company during the remaining period of the IX Plan.
The details of pattern of financing for the proposed
investment of Rs. 1665.32 crores, are given below:-
(Rs. Crores)
Government of Andhra 268.00 Pradesh—Equity Government of India—Equity 257.51 Government of India—Loan 77.50 Government of India—Bilateral Credit 61.62 Internal Resources 1000.69 Total 1665.32With the above proposed investment, SCCL would achieve a production of 34.012 million tonnes by the terminal year of IX Plan from the production level of 28.734 million tonnes during 1996-97 (terminal year of VIII Plan). The break up of investment under existing/completed, ongoing and new projects during IX Plan period is given below:-
Existing/completed projects 746.38 Ongoing projects 441.32 New projects 372.59 Non-mining projects 105.03 Total 1665.32(d) & (e): The Government of Andhra Pradesh and Government of India propose to invest Rs. 268 crores and Rs. 257.51 crores towards equity during IX Plan period in SCCL. With the proposed equity investment, the equity base of SCCL would improve from Rs. 1207.69 crores as on 31st March, 1997 to Rs. 1733.20 crores by the end of IX Plan period.