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Rail Orders Boost India's Steel Business


Indian companies have won a number of railway contracts

Rail Orders Boost India's Steel Business

Jindal Steel & Power, Jindal Steinless and the Government of India Steel Industry (SAIL) have won various orders for long-term rail contracts. Government orders announced by the railways in recent months include the production of stainless steel wagons, the construction of pedestrian bridges and four thousand kilometers of new tracks from 2019 to 2020.

“This will be a significant addition to our portfolio in terms of profitability and volume,” said Naushad Akhter Ansari, Chief Executive Officer of Jindal Steel & Power.

For three years, revenues of all three steel companies have been growing, despite the fact that their profits remained weak. But, according to experts, the capabilities of corporations are not equal. State-owned SAIL has an advantage over other bidders due to its modern equipment, which makes it the undisputed leader in the top three.

- SAIL has more efficient steelmaking equipment in terms of production capabilities than Jindal Steel and therefore can get better margins on rail orders, said a Mumbai-based analyst on condition of anonymity.

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