Jindal sTeel cOuld win a slice Of rail Tender
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.