The Saga of FSNL

The beginning of the scrap processing industry in India can be traced back to 1956 when the Managing Director of the then TISCO contacted i.e. M/s Heckett Engineering Company, USA, ( a division of Harsco Corporation, (USA), considered the pioneer in Scrap Recovery Technology in the world. The predecessor of Ferro Scrap Nigam Ltd, M/s Heckett Engineering Company (USA) started its operation in 1957 in India at Tata Iron & Steel Company Limited (then TISCO, Jamshedpur) for mechanized scrap recovery. Subsequently, in the year 1962, Rourkela Steel Plant and in 1964, the Indian Iron & Steel Company, Burnpur also employed their services for scrap recovery.

M/s Heckett Engineering Company (USA) operated in India as the Indian Branch of the American Company. Pursuant to the promulgation of Foreign Exchange Regulation Act, 1974, M/s Heckett Engineering Company (USA) either had to wind up its operations or had to acquire an Indian partner who would take a majority stake. At the same time continuance of their operations in India was considered to be beneficial to the steel plants. The solution was to form a new Company.

The Government of India desired that the operation of M/s Heckett Engineering Company, USA should be indigenized. Consequently, MSTC Ltd (the erstwhile Metal Scrap Trade Corporation Ltd.,) then a subsidiary of SAIL was advised to begin work on this decision. MSTC Ltd., after undertaking a comprehensive study recommended the formulation of an independent company for this purpose and thus on the 28th of March, 1979, Ferro Scrap Nigam Limited in collaboration with M/s Harsco Inc., USA came into existence.

The entire mechanized scrap recovery process technology of M/s Heckett Engineering Company as well as the equipments and services of the operating personnel were transferred to FSNL, with 60% share holding by MSTC Ltd., and the remaining 40% share holding by M/s Harsco Corporation, USA. Initially, FSNL was a subsidiary of SAIL and delinked from SAIL alongwith MSTC Ltd., in 1982. In the year 2002, M/s Harsco Corporation transferred their 40 % share holding to MSTC Ltd., thus FSNL became a wholly owned subsidiary of MSTC Ltd.

FSNL has been awarded IMS (Integrated Management system) - ISO 9001:2015, ISO 14001:2015 & ISO 45001:2018 by M/S TUV.

FSNL’S OPERATING UNITS