India: JSPL Wins Order to Supply 89,042 MT Rails
Jindal Steel and Power Ltd (JSPL) in recent press release reported that, it has bagged a INR 665 crore order from Rail Vikas Nigam Ltd (RVNL) to supply 89,042 MT of rails.
JSPL has won an order from RVNL "to supply 89,042 MT of UIC 60 kg IRS T-12 880 grade 13 meter rails for its upcoming projects. The required rails will be manufactured and supplied from its Raigarh facility, the company said in a regulatory filing.
This is the second big rail order in less than a year, the first-ever rail order to JSPL for supplying close to one lakh MT rails to Indian Railways was completed in April 2019, said in press release.
”It is a privilege to be awarded this contract which reflects the confidence Indian Railways have developed on us based on our recent performance. We are grateful to the RVNL for reposing trust in our capabilities to deliver for the nation. This contract will provide an important foundation for our future rail business" said Naushad Akhter Ansari, Joint Managing Director, JSPL.
RVNL functions as an extended arm of the Ministry of Railways. It is empowered to act as an umbrella special purpose vehicle (SPV) to undertake projects directly or by creating project specific SPVs, according to its website.
Part of the USD 22-billion OP Jindal Group, JSPL has presence in steel, power, mining and infrastructure sectors. JSPL has a capacity to supply over 50,000 MT Rail per month. The company has already supplied Rails to countries like Iran, Bangladesh and a few others.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Gold loses some luster after Trump’s decisive win
Resolute Mining says it will pay Mali $160 million in tax dispute
Russia takes aim at US nuclear power by throttling uranium
Aluminum price to average 6% higher in 2024 on strong demand: Fitch
BHP to spend up to $14 billion on Chilean copper expansion
Trump chooses oil fracking boss as energy secretary
Marimaca Copper eyes ASX dual listing to boost Chile project
Osisko Development surges on permitting milestone for Cariboo gold project
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Marimaca Copper eyes ASX dual listing to boost Chile project
Osisko Development surges on permitting milestone for Cariboo gold project
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project