Hyderabad: The Singareni Collieries Company Limited (SCCL) chairperson and managing director Buddhaprakash Jyoti said the coal company is moving ahead with a comprehensive plan to diversify and strengthen AP Heavy Machinery and Engineering Limited (APHMEL), an arm of Singareni located in Vijayawada. The CMD on Wednesday virtually inaugurated a 300 kw solar power plant that he said would save ₹24 lakh annually in electricity costs. The CMD said APHMEL had achieved a turnover of ₹63.13 crore and a net profit of ₹23.33 crore, claiming it as the best performance in the company’s 50-year history.He called upon the staff to focus on business diversification by exploring opportunities beyond the machinery, equipment, and spare parts currently being manufactured, keeping in view the evolving requirements of various industries. He assured that SCCL would continue to extend all necessary support to APHMEL, particularly in adopting modern technologies and achieving higher levels of industrial growth.
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