Five major steel companies in India, Tata Steel, Jindal Steel and Power (JSPL), ArcelorMittal Nippon Steel (AM/NS), Steel Authority of India (SAIL), and Jindal Stainless (JSL), have secured steel supply contracts worth Rs 1,586.39 crore from the Indian Railways. The contracts include supplying mild/corten steel sheets/plates/coils. The bids for these contracts were invited in July 2023, and the winners were finalised earlier this month.
Steel Authority of India (SAIL) has secured the majority share in two tenders called in February 2024 for the purchase of stainless steel sheets and plates. Both tenders were awarded simultaneously.
SAIL will supply the Indian Railways with 1.05 lakh tonnes of steel valued at Rs 671.27 crore ($89.5m) and 16,356 MT of stainless steel worth Rs 217.90 crore ($29m). Tata Steel will provide the second highest quantity with 52,753 MT of steel costing Rs 333.48 crore ($44.5m). The steel will be used in the fabrication of railway wagons, coaches, and foot over bridges among other structures.
Indian Railways has increased its locomotive production target for the fiscal year 2025 (FY25) by 27%, aiming to produce 1,500 units. This target will remain steady through the fiscal year 2027 (FY27).
The Indian Railways operates eight production units across the country, manufacturing wheels, axles, locomotives, and coaches. The organisation had set a target to conclude the financial year 2023-24 with a production of 1,180 new locomotives.
