JSPL Bags 20% of the Rs 2,500 Crore Order to Supply Long Rails to Indian Railways

JSPL Bags 20% of the Rs 2,500 Crore Order to Supply Long Rails to Indian Railways

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Date of Post: 01 Aug, 2018

New Delhi: JSPL (Jindal Steel & Power Ltd) has bagged 20% of the Rs 2,500 crore order to supply long rails to Indian Railways which had floated a global tender for it, JSPL Chairman Naveen Jindal said. The Railways had invited the global tender for procuring approx 4.87 lakh tonnes of rails to meet the supply shortfall from the state-run SAIL (Steel Authority of India Limited).

More Information:

  • The value of the order bagged by JSPL comes to around Rs 536 crore, sources said.
  • Jindal said,”We got the order for the rail…. We have been in business since 2003. After 15 years, for the first time, we are amongst the one…”
  • He said at a conference on the steel sector,”As only the second Indian producer (after SAIL), we have got 20 percent of the order.”
  • At the conference, Steel Minister Chaudhary Birender Singh stressed on the need for participation of Indian companies in major infrastructure projects.

About The Tender-

  • The financial bids for the order were opened last week in which 7 foreign steel companies and JSPL from India had submitted its bids.
  • JSPL was the only Indian steel maker in the fray, and was expected to get an assured order of 20% under the ‘Make in India’ clause.
  • Jindal said after the conference,”It is a historic moment for the company. We were trying for long. It is a proud moment for India. We will start supplying soon.”
  • The company would dispatch the first consignment in August, N A Ansari, CEO, JSPL Steel Business said.
  • The order is to supply around 1 lakh tonnes of rails to the Railways over a period of one year, the company said in a statement.
  • The Railways had decided on an extra global tender after anticipating that SAIL would not be able to supply the 7,17,000 tonnes required for 2017-18 and 2018-19, as estimated at that time.
  • The Indian Railways is looking at 4,000 km of track renewal in each of the next 2 financial years, 2018-19 and 2019-20.
  • Its estimated cost for 2018-19 is a little above Rs 10,000 crore.
  • Till now, the national transporter was procuring rails from government-owned SAIL.

About JSPL-

  • JSPL is the only private company that produces rails in India.
  • It was already supplying rails to various countries like Iran and Bangladesh.
  • The company operates the country’s most advanced 1 MTPA (Million Tonne Per Annum) rail mill at its 3.6 MTPA integrated steel plant at Raigarh, Chhattisgarh.
  • It can manufacture single piece rails of up to 121 metre.

Author:

Narinder Sharma is a part of the content team of Rail Analysis India as a writer and marketing executive.
His interest is in the Railways , Metro and Transportation Sector of India .
Please reach us at editor@railanalysis.com for more information .


 

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