The Hindu Business Line : STC pays 35% interim to Govt

A dividend cheque for Rs 9.56 crore by way of the interim dividend of 35 per cent for 2007-08, was presented to the Union Minister of Commerce and Industry, Mr Kamal Nath, by the Chairman and Managing Director of State Trading Corporation of India Ltd (STC), Dr Arvind Pandalai, here. During the first nine months of the current financial year (April-December 2007), STC has achieved an increase of over 40 per cent in profit over the corresponding period of the previous year. The total turnover has also crossed the Rs 11,000-crore mark during this period thereby surpassing the proportionate MoU target it had agreed with the Department of Commerce by 48 per cent, an official release said here on Tuesday.

STC is soon planning to enter into bio-fuels. It has already signed an MoU with an Indian company in the field of jatropha breeding/cultivation and identification of suitable strains of micro-algae, the production of bio-fuels. Under the MoU, STC would arrange sale of all jatropha planting material and allied products/services of the partner company. Discussions are being held with a number of international companies having bio-fuel refineries in the area of jatropha plantation.

– Our Bureau

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