Rail­ways launches new freight ini­tia­tives

Maritime Gateway - - News -

The Rail­ways Min­istry launched new freight ini­tia­tives with the aim of giv­ing a fil­lip to cargo move­ment by rail. He re­leased a new freight struc­ture for dou­blestack dwarf con­tain­ers and signed agree­ments un­der Long Term Tar­iff Con­tracts (LTTC) with TISCO, In­dia Ce­ments and Ul­tratech Ce­ment. salient fea­tures of the ini­tia­tives: Long Term Tar­iff Con­tracts; The Min­is­ter an­nounced that In­dian Rail­ways shall en­ter into long term tar­iff con­tracts with key cus­tomers us­ing pre-de­ter­mined price es­ca­la­tion prin­ci­ple, to de­velop a long-term com­mit­ment; The LTTC was fi­nalised af­ter a process of struc­tured di­a­logue with key cus­tomers; Un­der LTTC, IR shall be as­sured of long-term freight rev­enue com­mit­ment from cus­tomers at pre­de­ter­mined price es­ca­la­tion prin­ci­ple as the cus­tomer shall com­mit Min­i­mum Guar­an­teed Gross Freight Rev­enue (MGGFR) for each year of the con­tract pe­riod at a min­i­mum of 5 per cent in­crease over the pre­vi­ous year.

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