Indian railways to pitch private steel players
Rohan Takalkar / 27 Mar 2017
As the infrastructure demand rises, government is set to expand horizon for its orders to private players. Media reports suggest Indian Railways is expected to place orders to private steel companies for rail tracks to meet rising demand.
As the infrastructure demand rises, government is set to expand horizon for its orders to private players. Media reports suggest Indian Railways is expected to place orders to private steel companies for rail tracks to meet rising demand.
Indian Railways places order to government entity SAIL for supplying standard rail tracks, which has fallen behind in achieving target of 850,000 tonnes indicating demand supply gap for Indian Railways.
On this back-drop, railways is set to open up $700 million to private sector. This move is expected to dent SAIL which is Indian Railway’s largest supplier. Indian Railway is also going through major modernisation operations for replacing old tracks with new ones to minimise accident risks.
However, SAIL is ramping up capacity expansion at its Bhillai plant by 100,000 tonnes to meet rising demand from Indian railways. Private sector companies are expected to see major order inflow if the railway ministry go ahead for the move.
SAIL is currently trading 2 per cent down at Rs.61.1 levels after opening at Rs. 62.35 mark.
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