STC plans to foray into mining, power generation sector
Having made a foray into the bio-fuel business, State Trading Corporation is now planning to diversify into the mining and power generation sector with a view to expand its business activities in the country. The business activities of STC are likely to accelerate further with the corporation planning an entry into mining and power generation activities very shortly, an official release said here. Meanwhile, the Corporation earned a trading profit of Rs 39 crore for April-June quarter of the current fiscal, a 47 per cent growth over the quarter a year-ago. It posted a 53 per cent increase in its turnover to Rs 4,200 crore for the first quarter of the current fiscal, it said. STC is also undertaking paddy procurement operation on minimum support price on behalf of Food Corporation of India under Custom Milled Rice scheme announced by the government, the release added.
