NBCC to build MSTC's new corporate building in Kolkata

Chaudhary Birender Singh, Union Minister of Steel, laid the foundation stone of the upcoming building in the presence of Vishnu Deo Sai, Minister of State (Steel), B B Singh, CMD, MSTC Ltd and other dignitaries.

The 11-storey corporate building will be constructed by NBCC (India) Ltd., a Central PSU at a total investment of Rs. 35 crore for the project.

The new building, with over 50,000 sq. ft. of built up space, will be steel-intensive, intelligent and environmentally sustainable and is expected to be completed in early 2019, senior officials said.

B B Singh, CMD, MSTC Ltd said, “MSTC has been engaged by the Ministries of Coal, Mines, Power, Petroleum, etc. for the development of innovative solutions for allocation of coal mines, mineral blocks (major and minor), power procurement, royalty collection contracts, oil & gas blocks, mine development operatives, and the like. It has also opened six new offices across Raipur, Jaipur, Amravati, Ranchi, Guwahati and Chandigarh to enhance MSTC’s pan-India presence. The opening of our corporate building in New Town will cement our plans for the state of West Bengal.”

MSTC is in the process of setting up its first auto shredding plant through a joint venture (JV) company with the Mahindra Group, which will go a long way in recycling end of life vehicles besides substituting imports for steel materials, senior officials said.

MSTC began its operations in September 1964 as a small trading company; today is a large multi-product diversified company. 

MSTC, backed by state of art infrastructure, in-house expertise in software and a pan-India presence, is catering to Central Government departments, PSUs, State PSUs and private companies with services both in Forward Auction and e-Procurement .

“It is heartening to have achieved the feat which was long awaited for owning our corporate office building in Kolkata.  It is in sync with the galloping growth rate of the company during last couple of years.  MSTC is poised for diversification into various other fields of activities in the immediate future”, said B.B. Singh.

MSTC has recently launched MSTC Metal Mandi (M3), a virtual market place for trading of Ferrous and Non-Ferrous products, providing a one stop solution for sellers and buyers in Metal Sector.

“We are happy to announce that the MSTC business volume has grown to Rs. 51033 crore in FY 2016-2017 from Rs. 30819 crore in FY 2015-2016. The Profit Before Tax also increased to Rs. 93 crore (subject to Audit) during FY 2016-2017 from Rs. 91.34 crore in FY 2015-2016,” said A K Basu, Director (Finance) of MSTC Ltd.

“In the past few years, MSTC has become a niche brand providing e-commerce solutions to government sector, specialising in price discovery, sale, purchase, leasing etc. which includes Power Purchase Agreements (PPA),  Power System Development Fund (PSDF), Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Discovery of Efficient Electricity Price (DEEP), Discovered Smaller Oil & Gas Blocks, Ude Desh ka Aam naagrik (UDAN),” A K Basu said.