Tata Steel, Jindal Steel and Power Limited (JSPL), ArcelorMittal Nippon Steel (AM/NS), Steel Authority of India Limited (SAIL), and Jindal Stainless Limited (JSL) have secured steel supply contracts worth ₹1,586.39 crore from the Railways.
Bids for procuring Mild/Corten Steel Sheets/Plates/Coils were invited in July 2023, with the final awards being announced earlier this month. Additionally, a tender for purchasing stainless steel sheets and plates was floated in February 2024, with awards made concurrently. Steel Authority of India Limited (SAIL) has clinched the majority share in both tenders, securing contracts to supply 1.05 lakh metric tonnes (MT) of steel worth ₹671.27 crore and another 16,356 MT of stainless steel valued at ₹217.90 crore.
Tata Steel follows closely with the second-highest supply quantity, providing 52,753 MT of steel to Indian Railways for ₹333.48 crore. The procured steel will be utilized in the fabrication of railway wagons, coaches, foot over bridges, among other applications. Recently, Indian Railways raised its locomotive production target for fiscal 2025 by 27% to 1,500 units. The national transporter aims to maintain this annual production target until FY27.
Indian Railways operates eight production units across the country, manufacturing wheels, axles, locomotives, and coaches. The goal for fiscal 2023-24 was to conclude with 1,180 new locomotives.