Hyderabad: Singareni Collieries Company Limited (SCCL) Chairman and Managing Director Dr Budda Prakash Jyothi virtually inaugurated the APMEL solar plant, a 300-kilowatt solar power facility, at the company’s subsidiary Andhra Pradesh Heavy Machinery and Engineering Limited (APMEL) in Vijayawada on Wednesday.
The CMD also inaugurated newly constructed CC and RCC roads developed as part of infrastructure improvement works at the plant. The projects were launched from Singareni Bhavan in Hyderabad during APMEL’s golden jubilee year.
Dr Budda Prakash Jyothi said SCCL is pursuing plans to diversify APMEL’s operations under the guidance of Chief Minister A. Revanth Reddy and Deputy Chief Minister and Energy Minister Bhatti Vikramarka. He congratulated APMEL employees for achieving a record turnover of ₹63.13 crore and a record net profit of ₹23.33 crore, the highest in the company’s 50-year history.
APMEL solar plant to reduce power costs
The CMD said APMEL achieved the milestone following directions issued by Deputy Chief Minister Bhatti Vikramarka during his visit to the plant last year. Additionally, he said the government fulfilled its commitment to improve infrastructure by constructing CC and RCC roads inside the premises.
Dr Budda Prakash Jyothi said APMEL entered its golden jubilee year after completing 50 years since its establishment on September 1, 1976. Therefore, he asked the company to expand its business by developing products that meet the changing needs of various industries. He also assured continued SCCL support to help APMEL adopt modern technology and strengthen its growth.
The newly commissioned APMEL solar plant was built at a cost of ₹1.24 crore. It will reduce the company’s annual electricity expenditure by about ₹24 lakh. APMEL currently spends nearly ₹60 lakh every year on power for its plant and residential colony. The company expects to recover the investment within five years while also promoting clean energy.
Meanwhile, APMEL Chairman N.V.K. Srinivas outlined the company’s future expansion plans. He said APMEL had completed orders received from SCCL, Coal India and NMDC within the stipulated time.
SCCL Directors L.V. Suryanarayana, K. Venkateswarlu, Gautam Potru and M. Tirumala Rao, Executive Director (Coal Movement) B. Venkanna, General Manager (Coordination and Marketing) T. Srinivas, APMEL Managing Director Erranna and other officials attended the programme.