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MMTC bags Capexil award

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The MMTC Chairman and Managing Director, Mr Sanjiv Batra (right), receiving the Capexil export award for 2007-08 from the Director General, DGFT, Mr R. S. Gujral, in the Capital on Monday as the Chairman of Capexil, Mr Surendra Gulati, looks on. —
The MMTC Chairman and Managing Director, Mr Sanjiv Batra (right), receiving the Capexil export award for 2007-08 from the Director General, DGFT, Mr R. S. Gujral, in the Capital on Monday as the Chairman of Capexil, Mr Surendra Gulati, looks on. —

Our Bureau

New Delhi, Nov. 10 MMTC Ltd has bagged the Capexil (Chemical and Allied Products Export Promotion Council) award for 17th time in a row.

MMTC’s Chairman & Managing Director, Mr Sanjiv Batra, received the award from the Director General of Foreign Trade (DGFT), Mr R.S. Gujral, at the annual general body meeting of the Capexil here.

MMTC, a premier Trading House with core businesses encompassing minerals, metals, bullion, gems & jewellery, fertilisers, agro-products, coal and hydrocarbons, achieved its highest-ever turnover of Rs. 26,503 crore in 2007-08.

In 2007-08, MMTC exported about 8.86 million tonnes of minerals products including iron ore, chrome ore and manganese ore earning almost Rs 3,400 crore in foreign exchange.

Through a network of 76 offices, warehouses and port offices, MMTC has integrated the entire logistics chain for smooth and timely exports to various parts of the globe, a company release said.

The projected increase in steel production would require exploration and development of mines as well as extraction and processing of minerals to be used as raw materials for such steel making units. In order to take advantage of such situation, MMTC is collaborating with Tata Steel by forming a joint venture company to facilitate mining and processing of various minerals, ferrous and non-ferrous ores, coal, precious metals (like gold and silver), diamonds etc., both in India and abroad.

(This article was published in the Business Line print edition dated November 11, 2008)
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