The global tender held by Indian state-run transporter Indian Railways (IR) global for procuring 487,000 mt of steel rails has received eight bids from various steel companies, government sources said today, Wednesday, July 25.
The sources said that the financial part of the tender which will be opened later today received bids from seven global steel companies and one domestic steel producer, Jindal Steel and Power Limited (JSPL). Global steel majors seeking to make steel rails supplies to IR included Sumitomo Corporation, Angang Group International, Voestalpine Schienen, East Metal, CRM Hong Kong, Atlantic Steel and British Steel France Rail SAS, the sources added.
Until now, domestic state-owned steel producer Steel Authority of India Limited (SAIL) has been the pre-dominant steel supplier to the national transporter. However, with IR expecting SAIL to be unable to meet the entire requirement of 717,000 mt of steel rail demand in the current year, IR floated the global tender to seek supplies from international suppliers, the sources added.
Significantly, for JSPL, the sole domestic producer of steel rails in the private sector, it will be a maiden contract to supply the product to IR if it wins the order in competition with global companies, the sources said.