Jin­dal sTeel cOuld win a slice Of rail Ten­der

The Sunday Guardian - - & Comment Analysis - REUTERS

NEW DELHI: A clause in In­dia’s global ten­der for steel rails, part of a $130 bil­lion over­haul of its rail­ways, could help Jin­dal Steel and Power Ltd win up to 20 per­cent of the work, sources said. The world’s fourth-largest rail sys­tem is un­der­go­ing a five-year over­haul to re­place age­ing tracks, im­prove ef­fi­ciency and end a spate of deadly train ac­ci­dents, in­clud­ing one on Fri­day. State-run Steel Author­ity of In­dia Ltd (SAIL) is ex­pected to de­liver 920,000 tonnes of it this fi­nan­cial year, just 65% of its tar­get. In re­sponse, the Min­istry of Rail­ways last month opened up a global ten­der for 717,000 tonnes of steel rail worth an es­ti­mated 30 bil­lion ru­pees ($464 mil­lion) to private bid­ders for the first time.

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