Indian Railways Awards Steel Contracts Worth ₹1,586.39 Crore to Leading Companies

12 Apr 2024 , 02:27 PM

Five major steel companies in India, including Tata Steel, Jindal Steel and Power (JSPL), ArcelorMittal Nippon Steel (AM/NS), Steel Authority of India (SAIL), and Jindal Stainless (JSL), have secured contracts from Indian Railways valued at ₹1,586.39 Crore.

The contracts involve supplying mild/corten steel sheets/plates/coils, with bids invited in July 2023 and winners finalized recently.

SAIL has secured the majority share in two tenders called in February 2024 for stainless steel sheets and plates, supplying 1.05 lakh tonnes of steel valued at ₹671.27 Crore and 16,356 MT of stainless steel worth ₹217.90 Crore. Tata Steel follows with 52,753 MT of steel costing ₹333.48 Crore.

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 FY25 by 27% to 1,500 units, maintaining this target through FY27.

Indian Railways operates eight production units across the country, aiming to close FY23-24 with 1,180 new locomotives.

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