Jindal Steel & Power Ltd eyes Rs 1,000 crore order for rail tracks

23 November 2018

In what could be a boost to Jindal Steel and Power Ltd, the steel ministry may tell Rail Vikas Nigam Ltd to relax the tender conditions to buy rail tracks, allowing JSPL to qualify for bidding, people familiar with the matter said.

JSPL, which was originally looking to bag a developmental order from the engineering company under the railway ministry, can now look forward to qualifying for a much larger order of more than Rs 1,000 crore, the sources said.

The inability of Steel Authority of India(SAIL) to commit to RVNL’s requirements for the next few years, had forced the latter to explore imports.

Against its two million tonnes per annum capacity for rails, SAIL had said it could only supply one million tonnes this fiscal and 1.2 million tonnes in the next, before meeting RVNL’s entire requirement from the following year onwards after the completion of its ramp-up.


Source: economictimes.indiatimes.com