The Union Minister of Steel, Mr Beni Prasad Verma has reviewed the performance of MSTC and FSNL Limited today. The Secretary, Ministry of Steel, Mr DRS Chaudhary was also present on the occasion. Mr SK Tripathi CMD of MSTC Limited made a presentation on the performance of MSTC and FSNL as well as elaborated on the future plans of the company.

Mr Verma said that MSTC to increase its profits substantially. He also exhorted MSTC to complete the setting up of container freight station in Haldia and Shredding plant project in the country with a great deal of urgency.

During the period April 2012 to September2012, the volume of business has been 10,603 Crore increasing by 58% compared to last year. MSTC has made continuous growth in profit in last 3 years.

Recent achievements of MSTC include entering into an agreement for the first time with the Government of Andhra Pradesh, to provide them total e-Commerce services for all transactions. MSTC has entered into e-auction of tea, iron ore, human hair, chromites ore and agricultural products in last two years. The company has been successfully auctioning Iron Ore in Karnataka through its e-auction portal.

Recently the company has started e-Auction of Manganese Ore in Karnataka. Mr Verma also reviewed the performance of FSNL and said that the company needs to show improvement in its performance and increase profits.

Source - PIB

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