India is set to award its first global rail supplies tender to local firms, shunning major foreign bids, as part of its efforts to develop domestic manufacturing, two sources with direct knowledge of the matter said.
Prime Minister Narendra Modi is under pressure to promote Indian industry to create jobs for millions of people ahead of the South Asian country’s next general election in 2019.
State-owned Steel Authority of India Ltd (SAIL) will provide 80 percent of the 487,000 tonnes of rails sought in the Indian Railways tender, the sources told RailNews. Jindal Steel and Power will supply the remainder, they added.
The global tender, with a clause to award 20 percent of the volume to a local firm other than SAIL, was issued in October 2017 and was meant to end SAIL’s monopoly, which has repeatedly struggled to meet railways’ rising demand. Read More
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