Andhra Pradesh now seeks its share of Singareni Collieries assets

Andhra Pradesh now seeks its share of Singareni Collieries assets

In a move that could further complicate asset division between the two Telugu-speaking states, Andhra Pradesh has staked a claim to the country’s second largest state-owned coal firm, Singareni Collieries, now being controlled by Telangana.

The erstwhile undivided Andhra Pradesh owned 51% stake in Singareni Collieries with the Union government holding the balance 49% equity. The entire stake of the state was transferred to Telangana post-bifurcation in June 2014. The current Andhra government has taken objection to it, seeking division of assets and liabilities of Singareni Collieries between the two states in a communication to the Centre. Read More…

 

Credit By : ET Energy World

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