MMTC eyes Rs18,100 crores turnover in FY08

New Delhi, Mar 27: Eyeing a turnover of Rs 18,100 crore in 2007-08, state-run trading firm MMTC Ltd will enter into new verticals including retail, power trading and coal mining.

The company has signed a Memorandum of Understanding (MoU) with the government.

The agreement envisages the turnover target, up 22 per cent from that of 2006-07, besides a schedule for commissioning of a 15 MW wind energy farm as well setting up two new franchisee outlets for its Sanchi brand.

A sales turnover target of over 400 million dollars has also been laid down in respect of the company's overseas subsidiary MTPL in Singapore The MoU includes other parametres related to customer satisfaction, innovation and project implementation.

MMTC CMD Sanjiv Batra signed the agreement with Commerce Secretary G K Pillai here yesterday.

UNI