Burn Standard Company Limited
| Company type | Public Sector Undertaking |
|---|---|
| Industry | transportation |
| Founded | 1976 |
| Headquarters | , India |
Area served | India |
Key people | Mr. Mohammad Asad Alam, Chairman & Managing Director |
| Products | rolling stock |
| Owner | Government of India |
| Website | www |
Burn Standard Company Limited (BSCL) is a Public Sector Undertaking (PSU) of the Government of India. Headquartered in Kolkata, India, BSCL is engaged mainly in railway wagon manufacturing under the Ministry of Railways. On 4 April 2018, Cabinet approves closure of loss making Burn Standard Company Limited. [1]. The company was formed with the merger of two companies – Burn & Company (founded 1781) and Indian Standard Wagon (founded 1918),[2] and was nationalised in 1975. In fiscal 2006, the company reported aggregated revenues of ₹1,373 million (US$17 million). Subsequently, the company with its two engineering units at Howrah and Burnpur came under the administrative control of Ministry of Railways in September 2010. The refractory unit at Salem, Tamil Nadu, was transferred to Steel Authority of India Limited.
According to UK based newspaper Independent, in March 2008, John Messer, the lead in-house lawyer for US engineering group McDermott International, was still trying to get paid for a contract drawn up in the late 1980s to build a giant offshore platform for the Mumbai High oil field. In October 2006, Burn Standard, the Indian engineering company that sub-contracted work on the project to McDermott, lost its appeal against a court ruling instructing it to pay the US group $90m (£45m). The amount due has already been paid after finalization of the arbitration and initiative taken by the Government of India. [3][4]
Products and services
- Railway wagons: tanker, hopper, flat
- Casnub bogies
- Couplers and Draft Gears
- Steel Castings, Pressings, Forgings Bridge Girders, Structurals, Sleepers, Points and Crossings, Wagon Components
- Wagon refurbishment
- Ash/coal plant construction
Liquidation
On the 4th of April 2018, the Government of India approved the liquidation of Burn Standard Company.[5]
References
- ^ http://pib.nic.in/newsite/PrintRelease.aspx?relid=178402
- ^ http://www.burnstandard.com/rti-history.html
- ^ Financial Statement Archived 16 July 2011 at the Wayback Machine
- ^ 'It's viewed as a game': Western groups recoil at India's culture of late payment - Business Analysis & Features, Business - The Independent
- ^ http://www.business-standard.com/article/pti-stories/cabinet-approves-closure-of-loss-making-burn-standard-company-ltd-118040401432_1.html
External links
- http://www.burnstandard.com/ (Official Website)
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