Indian state-run steel producer Steel Authority of India Limited (SAIL) is seeking a provisional increase in prices for steel rail supplies to national transporter Indian Railways (IR) for the periods 2022-23 and 2023-24, a company official said on Monday, November 27.
“For financial year 2022-23 and continuing in 2023-24 we have been getting a provisional price of INR 67,500/mt ($813/mt) for steel rail supplies to IR, whereas our price finalized for 2021-22 itself worked out at around INR 85,300/mt ($1,027/mt),” SAIL director of finance, Anil Tulsian said in a statement.
“We will be approaching IR to give us a provisional increase until we submit cost data for 2022-23 and will be requesting a provisional increase for supplies already made in 2022-23 and supplies to be completed in 2023-24 since our costs are much more,” he said.
SAIL had completed steel rail supplies of 920,000 mt in 2021-22.