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Our Bureau

Kolkata , Oct. 19

METALJUNCTION Services Ltd has announced the launch of two new services in the second half of the current fiscal.

The 50:50 joint venture of Tata Steel and Steel Authority of India Ltd will launch an `Online Store' and an `Aggregated Rate Contract Service' soon, Mr Viresh Oberoi, Managing Director of MetalJunction Services Ltd, told a news conference here.

Mr Oberoi said the Online Store would take off from Kolkata from November 1 and would be engaged in selling of fixed-price prime steel to begin with. It will be supported by an online payment system as well. Over time, the service will be rolled out across the country as well as overseas.

While initially, the Online Store will specifically sell steel, cement too will be sold over time. Discussions in this regard were being held with cement manufacturers even as work on customisation of the software in this regard had been initiated.

The Aggregated Rate Contract Service will encompass select services to begin with and is aimed at ensuring increased savings and improved services for buyers. For suppliers, this will translate into lower sales and marketing costs and larger product runs. This service will be offered to companies across the corporate spectrum, Mr Oberoi said.

According to him, MetalJunction, as part of its growth plans, is geared up to operate as a fulfilment services provider as well. These services include channel finance, logistics services and inspection services.

In the first six months of the current fiscal, MetalJunction has already sold three million tonnes of steel and two million tonnes of coal through its respective business units, www.metaljunction.com and www.coaljunction.com. The value of transactions on the company's portals in the first six months of 2005-06 crossed Rs 2,200 crore.

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