State-run Steel Authority of India Limited is planning to commence manufacturing of special quality rails for high-speed train corridors and metro projects in the next two years, an official said.
The steel maker could start making of the speciality rails at its Bhilai Steel Plant in Chhattisgarh and IISCO Steel Plant at Burnpur in West Bengal, he said.
-
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
India Could Gain If AI Trade Unwinds, US Midterms May Hurt Markets: Ramesh Damani -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI -
"I Am A Material Man In A Material World': Quantum Advisors' Ajit Dayal On NDTV Profit Ignite
"We expect to commence head (hardened) rail project in two years. However, it is now in the planning stage. The capacity and investments have not been firmed up," SAIL's Bhilai Steel Plant CEO Anirban Dasgupta told PTI.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
With more strength than the normal rails, the speciality product is used in metro rail projects and high speed train corridors.
"Feasibility studies will be carried out at BSP and Burnpur plant as only one facility will not be enough for SAIL, given the projected demand. The project would help for substituting imports," Dasgupta said.
He said the steel maker is in the process of hiring a consultant to carry out the feasibility studies.
According to reports, Indian Railways' track modernisation programme will require at least one million tonnes of head-hardened rails in the next four-five years.
New metro rail projects in the country alone will spur demand for at least 500,000 tonnes of the speciality rails in the next couple of years.
The capacity of the Bhilai plant has been ramped up to produce two million tonnes normal rails from 0.8 million tonnes per annum after modernisation, Dasgupta said
In 2019 -20, the facility is expected to produce 1.3 million tonnes, he added.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
