MSTC Ltd.

MSTC developed software for Product Import e-tendering module with Reverse Auction platform for Indian Oil Corporation (IOCL)

The e-tendering module for import of petroleum products was formally launched by Director (Finance) in the presence of Chairman and Managing Director, MSTC. 

The e-portal is a tailor made one encompassing the Reverse Auction platform. Along with e-tendering, the revised GTC for import of petroleum products (CFR & FOB) has also been implemented enabling finalization of import e-tenders in a short duration of 3 to 7 hours (depending on tender delivery option(s)). 

While appreciating the combined efforts of CO (IT), COIS and MSTC in developing the portal, Director(Finance) described the introduction of e-tendering in petroleum product tenders as a path-breaking development with numerous benefits for IndianOil as well as the counter parties. He also emphasized the significance of system security and regular system audit to ensure the same. 

Few e-tenders have already been finalized by International Trade Department for petroleum product import through the portal, the first being finalized on April 23, 2019. E-tendering module for petroleum product exports is already in use since September 2017. 

ED (CF), ED (IT) and ED I/c (IS) were present on the occasion along with the participants from IT, BD (Gas), IS Departments and participants from MSTC.