Chhattisgarh-based unit of Jindal Steel and Power Ltd (JSPL) will produce and supply one lakh tonnes of rail to Indian Railways in a period of one year after the company secured the major contract through a global tender.
The process is also seen as an end to the virtual monopoly of the Bhilai Steel Plant (BSP), one of the profit making facility of state-owned giant Steel Authority of India (SAIL), that exclusively supplied the rails earlier.
This is the first time when one of the top steel companies in private sector, JSPL bagged the order of the Railways that floated a global tender to buy rails from the market. The BSP failed to keep pace and lagged behind to meet the essential requirements of the national transporter. JSPL – owned by former Congress MP Naveen Jindal, edged out other 7 topmost manufacturers in the first ever global tender bid by Indian Railways for supply of rails. Read More
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