Tata Steel Entered Into ‘Long Term Tariff Contract’ With Indian Railways

Tata Steel Entered Into ‘Long Term Tariff Contract’ With Indian Railways

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Date of Post : 17 July, 2017

New Delhi: Tata Steel entered into a long term tariff contract (LTTC) with Indian Railways (IR). Railways Minister Suresh Prabhu, senior officials of the Railway Board & the company’s Vice President, Steel Manufacturing, Sudhansu Pathak among others were present at the contract signing ceremony held at the Rail Bhawan.

More Information:

  • It has invested heavily in improving its railway infrastructure & material handling system, claimed Tata Steel which is the first steel company to sign the contract.
  •  This has helped in reducing detention of railway rakes & bringing down the wagon turnaround time.
  • The LTTC has been introduced by Railways to establish long-term contracts with customers with guaranteed incremental revenue for Indian Railways.
  • The contract can be for a duration of 3 to 5 years.

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