Incorporated in 1944, Hindustan Development Corporation (HDCL) manufactures engineering goods, iron and steel goods, chemicals, calcined petroleum coke, etc. Its products include wire rods, bars and flats of carbon steel, alloy steel, stainless steel and special engineering steel. HDCL has entered into a technical collaboration with Hamburger Stahlwerke Consulting. It has its plants located at Bharatpur, West Bengal; Surat, Gujarat; and other places. The company's associates are Cyanides and Chemicals Company, Dalhousie Jute Company, Madhya Pradesh Iron and Steel Company, General Engineering Works, etc. In Feb.'92, HDCL came out with a public issue of 1.39 cr 14% redeemable PCDs of Rs 150 each at par, aggregating Rs 208.30 cr, to part-finance the composite steel plant with a licensed capacity of 2.5 lac tpa being set up in Madhya Pradesh, at a project cost of Rs 379.78 cr. During 1996-97, the company was awarded Exporter of the year award by indian council for small and medium exporter, New Delhi. As per the Scheme of arrangement between HDC and Malanpur Steel Company Ltd (MSCL), HDC's composite steel plant unit Madhya Pradesh Iron & Steel Company (MISC) established at Malanpur will be transferred at an appointed date to Malanpur Steel Company Ltd.