JSPL pockets 20% of Rs 2,500 cr order from Indian Rlys
Private steel maker JSPL has bagged 20% of the Rs 2,500 crore global tender by the Indian Railways to supply long rails. Jindal Steel and Power (JSPL) chairman Naveen Jindal said his company has received 20% of the tender floated by the Railways. Indian Railways had invited the global tender for procuring around 4.87 lakh metric tonnes of rails to meet the shortfall of supply from SAIL. This is the first time in three decades that rail procurement has been opened for the private sector. Seven foreign steel companies, and JSPL submitted their 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. JSPL is the only private company that produces rails in India. It was already supplying rails to various countries like Iran and Bangladesh. The foreign entities are Sumitomo Corporation, Angang Group International, Voestalpine Schienen, East Metals, CRM Hong Kong, British Steel France Rail and Atlantic Steel.
Till now, the national transporter was procuring rails from government-owned SAIL.