NEW DELHI: Union Minister of State for Steel Vishnu Deo launched a Web Portal “MSTC METAL MANDI” coded M3 on Friday. The portal is a virtual ‘online’ market place for purchase of steel, ferrous, non ferrous finished, semi finished products on fixed price basis.
“It is a landmark initiative by MSTC, that will help MSME and also set a milestone in e-procurement, one of the main prerequisites for transparency,” said Union Minister of State for Steel Vishnu Deo.
The online market place for medium and small scale steel manufacturers and traders will be managed and operated by Public sector company MSTC. On this occasion, MSTC is offering all its bidders/buyers, who are already registered with MSTC, a one-time opportunity to get registered on the portal for free and without any additional documentation.
“Using this portal, you will be able to buy various types of finished/semi finished products available from different manufacturers/traders at a competitive price. It will enable buyers to compare prices of products offered by different sellers,” said B B Singh, CMD, MSTC.
Speaking at the event, Aruna Sharma, Secretary of Steel urged stakeholders to help improve steel consumption and reduce environmental impact.“This portal will help buyers and sellers even in remotest parts of the country and the MSTC platform brings with it credibility with no metals without BIS certification to be traded on it,” said Sharma.
Elaborating on the development of the portal, Singh pointed out that, all stakeholders were consulted and concerns have been incorporated. MSTC is open to incorporate any other points that the stake holders might bring up for improvement and ease of operating the portal. “We are committed to help the sector and will work with the industry to resolve any issue that is impeding its development,”said Syedain Abbasi, Joint Secretary, Steel.