Date of Post: 11 Dec, 2018
New Delhi: Titagarh Wagons Limited on Monday announced that it has bagged Rs 1,560.8 crore order from the railway ministry for supply of wagons. “The company has been awarded a contract for manufacture and supply of 5,058 wagons to Indian Railways, the bidding for which was conducted under the reverse auction method,” it said in a BSE filing.
- The wagons are designed to carr coal, steel and stones and the value of the order is Rs 1,560.8 crore.
- “As per the contract, one third quantity (1,686 Wagons) is to be supplied within six months and to complete the supply of full quantity of wagons before February 28, 2020,” the filing said.
- Titagarh stretches its global reach and presence through factories in India, Italy and France with offices also in Singapore and Dubai.
- The company cater to passenger rolling stock, including double decker and single deck commuter trains, metros and trams.
- The national transporter has floated tenders to procure a total of 21,758 wagons of various types – covered, flat, open and guard vans – to cater to its growing needs in the next 2 years.
- In a reverse auction, the sellers compete to obtain business, and prices typically decrease as the sellers underbid each other after the lowest price is made public.
- The reverse auction carried out online ensures transparency and the most competitive price for the purchase as the order of more than 21,000 wagons is the largest so far, a official said.
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