Firm has shipped over 55% of order

Naveen Jindal-led Jindal Steel and Power Ltd. (JSPL) has shipped over 55% of the order to supply about one lakh tonne rails to the Indian Railways.

In July 2018, JSPL has bagged 20% of the ₹2,500-crore global tender by the Indian Railways to supply long rails. It was to supply around one-lakh tonnes of rails over a period of one year.

“We have already supplied 54,302 tonne rails out of 97,400 tonnes. We expect to complete the entire order by February, several months ahead of scheduled delivery period,” said Naushad Ansari, joint MD, JSPL.

The Railways, it is learnt, has indicated a demand of14 lakh tonne during 2018-19 and 17 lakh tonne in 2019-20. “We are well equipped and look forward to serve the Railways,” Mr. Ansari added.

Only two steel companies manufacture rails in India — Steel Authority of India Ltd. (SAIL) at its Bhilai Steel Plant and Jindal Steel and Power at its Raigarh plant. SAIL was the lone supplier of rails to the Railways until JSPL bagged an order in July 2018 to supply one lakh tonne rails. Indian Railways is looking at 4,000 km of track renewal in each financial years 2018-19 and 2019-20. It had invited the global tender for procuring around 4.87 lakh tonnes of rails, said a JSPL statement. after anticipating that SAIL would not be able to supply the required amount of rails, said a JSPL statement.