MSTC Limited

MSTC Limited
Native name
 MSTC Limited
Central government organisation
Public sector undertakings in India
Industry E-commerce
Founded 9 September 1964 (9 September 1964)
Headquarters Kolkata
Key people
 B B Singh (Chairman & Managing Director)
Products E-auction, e-procurement, e-sales, retail software
Website www.mstcindia.co.in

MSTC Limited (formerly known as Metal Scrap Trade Corporation Limited) is an Indian state-owned e-commerce company based in Kolkata, West Bengal. It is a Miniratna Category-I public sector undertaking, owned and operated by the Government of India with a total volume of business of INR 51355.97 crore (US$ 7.68 billion) for fiscal year 2016-17. Incorporated on 9 September, 1964, MSTC has 337 employees (as on 31 May 2017).

MSTC renders service to various e-commerce sectors, including e-auction, e-procurement, high sea sales, e-sales, and retail software. MSTC recently developed software to conduct online draw for new LPG distribution ship scheme which was conducted by state run oil marketing companies all over India.[1] MSTC is also in the process of developing an online portal on behalf of the government for selling state-owned entities through an English auction system.[2]

The company has its head office in Kolkata, West Bengal; four regional offices in Kolkata, Delhi, Mumbai and Chennai; and branch offices in Chandigarh, Jaipur, Vadodara, Bhopal, Bhubaneswar, Guwahati, Bangalore, Lucknow, Ranchi, Raipur, Vijaywada, Trichy, Vizag, and Hyderabad. It also has a subsidiary PSU company, FSNL (Ferro Scrap Nigam Limited).[3]

History

  • 1964 - incorporated as a regulatory body for export of scrap
  • 1982 - independent company under Ministry of Steel
  • 2002 - awarded Miniratna Category-II status
  • 2004 - started auctioning of coal
  • 2005 - awarded Miniratna Category-I status
  • 2007 - started e-auction of manganese ore
  • 2011 - started e-auction of iron ore in Karnataka, and human hair[4]
  • 2012 - started e-auction of chrome ore, baryte, raw pet coke
  • 2013 - started e-auction of forest produces
  • 2014 - started e-auction of iron ore in GOA and red sanders wood in Andhra Pradesh[5]
  • 2015 - e-auction of coal mine blocks[6] and regassified LNG[7]
  • 2016 - developed e-bidding platform under DDUGJY & IPDS, DEEP and allocation of marginal oil field[8]
  • 2017 - developed ERAKAM portal to provide e-auction platform to sell agriculture produce[9]

Holding

The company is under the administrative control of Ministry of Steel, Govt. of India. Govt. of India holds 89.85% share and 10.15% share is held by the members of Steel Furnace Association of India and Ispat Industries Limited.

Joint venture

CERO is a joint venture of MSTC Ltd. and Mahindra Accelo.[10] This JV company has set up the first auto shredding plant in India for recycling end of life vehicles and other white goods by converting these into shredded scrap which is a vital raw material of secondary steel plants.

Awards

  • Kolkata Best Employer Brand Awards 2017 by Employer Branding Institute, India[11]

References

  1. ↑ https://www.business-standard.com/article/economy-policy/lpg-dealership-expansion-gains-pace-117122800030_1.html
  2. ↑ Majumder, Arindam (7 May 2018). "E-bidding: Govt to explore English auction system for disinvestment" – via Business Standard.
  3. ↑ http://www.fsnl.nic.in/aboutus.html
  4. ↑ Jacob, Shine (30 November 2011). "Q&A: S K Tripathi, CMD, MSTC" – via Business Standard.
  5. ↑ Bureau, Andhra Pradesh (24 July 2014). "Stage set for e-auction of red sanders" – via www.thehindu.com.
  6. ↑ Mazumdar, Rakhi (7 May 2018). "MSTC to conduct E-auction of coal blocks, mjunction cries foul" – via The Economic Times.
  7. ↑ PTI (15 September 2015). "Bidding starts for imported LNG subsidy; 16 power companies in fray".
  8. ↑ Jacob, Shine (16 February 2017). "Cabinet awards 31 oil blocks to 22 firms" – via Business Standard.
  9. ↑ https://economictimes.indiatimes.com/news/economy/agriculture/government-launches-e-rakam-portal-for-selling-agri-produce/articleshow/59868582.cms
  10. ↑ Mukherjee, Sharmistha (8 August 2016). "Mahindra Intertrade and MSTC sign JV to set up auto shredding centre" – via The Economic Times.
  11. ↑ "Employer Branding Awards". www.employerbrandingawards.com.
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