MSTC Limited is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India. The company was set up in 9th September 1964 to act as a regulating authority for export of ferrous scrap with an investment of Rs 6 lakh. Government of India, Members ofSteel Arc Furnace Association and members of ISSAI had made with the investment.
MSTC became a subsidiary of SAIL in 1974. In 1982, it got delinked from SAIL and became an independent company under Ministry of Steel. It was a canalizing agency for import of ferrous scrap till 1992.
In an effort to Recycle Waste, Protect Environment and Promote Growth, MSTC has developed a series of initiatives.
Since its inception in 1964, under the administrative control of the Ministry of Steel, MSTC Limited has endeavored to become one of the stalwarts of the nation's steel industry. Today it stands as a Mini Ratna Category-I PSU.
Till 1991 MSTC was the canalizing agency of Government of India for import of scrap and ship for Ships for breaking. After decanalization, MSTC established itself as a major player in importing bulk raw material for various industries. It has emerged as the only Public Sector Company in India dealing in e-Commerce.
Of late, MSTC has emerged as a major player in the country for promoting e-commerce. It has presented with e-Auction portal namely, www.mstcecommerce.com which has become an immensely popular tool for transacting business over the internet in a most transparent and fair manner. The portal provides a virtual marketplace for domestic sellers and buyers to do business in metal scrap (ferrous/non-ferrous), surplus stores, machineries, obsolete spares, vehicles, minerals and agriculture & forest produce etc. The methodology adopted includes open tender, public auction and e-auction.
MSTC has recently developed an e-Procurement portal and is ready with end-to-end e-Procurement services.
The Marketing Division looks after the bulk procurement of industrial raw materials for its Principals. The sourcing is done either from foreign manufacturers / traders or from domestic producers.
The list of items that are procured includes HMS, HR Coil, Billets, Wire Rods, LAM Coke, Coking coal, Naphtha, Crude oil, Thermal coal etc which are mainly consumed by the steel, petroleum and power industries in the country.
The new initiatives by MSTC reflect our strong confidence in, and deep commitment to, investments in various new ventures, as well as our ability to develop constructive partnerships with national, international, regional and local authorities.
Since inception, MSTC has always made profits and has paid dividends to its shareholders. The shareholders' investment in the company was Rs. 1.10 Crore and by issuing bonus shares @1:1, the paid up capital was increased to Rs. 2.20 Crore in 1992-93. It has issued further Bonus Shares 3:1, raising the paid-up capital to Rs. 8.8 Crore. In 2011-12 the company declared dividend @ 1077%.
Last updated on: October 23, 2017
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