Metro India News | Hyderabad 

The State Bank of India (SBI) has assured full cooperation to Singareni Collieries Company Limited (SCCL) as it prepares to expand its footprint under the ambitious “Singareni Global” initiative.

On Thursday, SCCL Chairman and Managing Director N. Balram met SBI Chairman Challa Srinivasulu Setty, Deputy Managing Director Satyendra Kumar Singh and Chief General Manager Shailesh Unnithan at SBI headquarters in Mumbai. The discussions focused on financing Singareni’s upcoming projects in mining, renewable energy and green technologies.

Balram explained that SCCL is entering the critical minerals sector both within India and abroad, and has already secured licenses for gold and copper exploration in Karnataka. The company is also planning pumped storage projects, 5,000 MW of solar and thermal power plants, along with green hydrogen and methanol production facilities. To achieve these ambitious goals, he requested SBI’s support through low-interest loans.

Responding positively, SBI Chairman Setty expressed readiness to partner with Singareni in its development journey. He recalled SBI’s decades-long association with SCCL, serving as its lead bank and handling major financial transactions. Setty noted that about 75% of Singareni’s workforce maintains accounts with SBI, which also extends a free accident insurance cover of ₹1 crore to employees—highlighting its commitment to welfare and long-standing trust.

Balram urged SBI to continue its support and join hands in Singareni’s future ventures. SBI’s leadership assured full cooperation, expressing confidence that SCCL would emerge as an internationally recognized mining and energy company.

Around 150 EP Operators to be promoted soon

Qualified EP Operators working in open cast mines will soon receive promotions from Excavation Category-D to Excavation Category-C and from Excavation Category-C to Excavation Category-B. With this, approximately 150 operators across Singareni will benefit.

The management has agreed to promote operators who have completed two years in Excavation Category-D to Excavation Category-C and operators who have completed three years in Excavation Category-C to Excavation Category-B.  Accordingly, as per the instructions of CMD N. Balram orders were issued on Thursday.