Scrap worth Rs 2,582 crore sold by Indian railway in 6 months

18 Oct 2022 , 08:39 AM

According to recent data, the Indian Railways experienced record-breaking scrap sales in the first half of the fiscal year 2022—23 (as of September 2022).

Scrap is sold by the Railways via online auction.

According to the data, 3,93,421 metric tonnes of iron scrap had already been auctioned off in 2022—2023. 3,60,732 metric tonnes were sold in the same six months of 2021—2022.

During the time period, Railways reported scrap sales revenue of Rs2,582 crore. In comparison to the Rs2,003 crore earned on this count during the same time of the prior fiscal, this is a sizable increase.

According to the data, these earnings were 28.91% higher than those during the same period of the prior fiscal year. The projected revenue from the sale of scrap has been set at Rs4,400 crore for 2022—2023, according to a statement from Railways.

There have also been 1,751 wagons, 1,421 coaches, and 97 locomotives sold so far this fiscal year. 954 coaches, 77 locomotives, and 1,835 wagons had been sold over the same time during the prior fiscal year.

All-out efforts are being made, according to Railways, “to optimally utilize resources by mobilizing scrap materials and selling through e-auction.” At the highest level, both the Railway Board and the zonal railroads are keeping an eye on the procedure, it was said.

Typically, when converting gauges, the Railways produce scrap. Since the scrap produced in this way cannot be used to build tracks, it is sold.

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