Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The Indian Railways has awarded steel supply contracts worth ₹1,586.39 crore to Tata Steel, Jindal Steel and Power Limited (JSPL), ArcelorMittal Nippon Steel (AM/NS), Steel Authority of India Limited (SAIL), and Jindal Stainless Limited (JSL).
According to officials aware of the development, bids for Mild/Corten Steel Sheets/Plates/Coils were solicited in July 2023, but the award was only finalized just this month.
Another tender for purchasing stainless steel sheets and plates was issued in February 2024, and it was also awarded at the same time. In both tenders, SAIL, a public sector organisation, won the majority of the contracts. SAIL will deliver 1.05 lakh MT of steel for ₹671.27 crore and 16,356 MT of stainless steel worth ₹217.90 crore.
Tata Steel has got the second highest supply quantity with 52,753 MT of steel being procured by the Indian Railways for ₹333.48 crore. The steel procured will come handy in fabrication of railways wagons, coaches, and foot over bridges among other uses. Indian Railways has recently raised its locomotive production target for fiscal 2025 by 27% to 1,500 units. The national transporter aims to keep this annual production target unchanged till FY27.
The railways have eight production units in the country where they make wheels, axles, locomotives and coaches. They had aimed to close the fiscal 2023-24 with 1,180 new locomotives.
Also Read : Jindal Steel Commissions First Galvanising Line at Angul, Eyes Expansion Adani Energy in talks with banks to borrow up to $600 Mn
According to data released by China's National Bureau of Statistics (NBS) on June 17, the country's...
China 17-Jun-2024
Iron ore prices are projected to remain resilient, even as China’s steel sector faces signific...
Raw Material 02-Sep-2024
Vietnam’s Steel Shift Reshapes Domestic Market Vietnam’s top steel producers—Hoa...
Business 24-Jun-2025
✅ Trump reaffirmed that steel and aluminum tariffs will remain in place.✅ 25% tariff on steel and...
US 18-Mar-2025
Union Minister Pralhad Joshi recently inaugurated the second State Mining Ministers’ Conferenc...
Press Releases 23-Jan-2024
KoBold Metals, a California-based company with backing from billionaires like Bill Gates and Jeff Be...
Africa 06-Feb-2024