Source: https://timesofindia.indiatimes.com/business/india-business/indian-railways-awards-big-steel-procurement-orders-for-rs-1586-crore-tata-sail-jindal-among-top-5-companies-to-bag-contracts/articleshow/109238204.cms
Publisher: The Times Of India
Indian Railways awards big steel tenders! Steel Authority of India Limited (SAIL), Tata Steel, Jindal Stainless Limited (JSL), ArcelorMittal Nippon Steel (AM/NS) and Jindal Steel and Power Limited (JSPL) have secured steel supply contracts valued at Rs 1,586.39 crore from the Indian Railways.
Officials familiar with the matter told ET that the bids were invited for procuring Mild/Corten Steel Sheets/Plates/Coils in July 2023, with the final awards being confirmed earlier this month.
A separate tender was issued in February 2024 for the purchase of stainless steel sheets and plates, which was also awarded at the same time, the report said.
SAIL emerged as the top bidder, securing a significant portion of both tenders. The company will supply 1.05 lakh metric tonnes of steel valued at Rs 671.27 crore and 16,356 MT of stainless steel valued at Rs 217.90 crore. Tata Steel follows closely with a contract to supply 52,753 MT of steel for Rs 333.48 crore.
This steel will be used in the fabrication of railway wagons, coaches, and Isidges. In line with its increased production targets, Indian Railways plans to produce 1,500 locomotives in fiscal 2025, a 27% rise from previous targets. The national transporter aims to maintain this production level until FY27.
Currently, Indian Railways operates eight production units across the couhtry, focusing on wheels, axles, locomotives, and coaches. The target for new locomotives by the end of fiscal 2023-24 is set at 1,180 units.
