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JSPL secures a big-ticket order from RVNL. How much is it worth?

PW Bureau

This is the second big rail order to have come JSPL’s way in less than a year. The previous order was completed in April

New Delhi: Jindal Steel and Power Ltd (JSPL) has won a big-ticket order from Rail Vikas Nigam Ltd (RVNL) to supply 89,042 tonnes of rails. The company said on Thursday that the order is worth Rs 665 crore. In a filing to the stock exchange, JSPL said that it has won an order from RVNL “to supply 89,042 tonnes of UIC 60 kg IRS T-12 880 grade 13-meter rails for its upcoming projects.”

“This order is indicative of JSPL’s strategic commitment to growing its footprint in the domestic Rail segments,” JSPL Managing Director Naushad Akhter Ansari said.

Second big rail order in less than a year

This is the second big rail order to have come JSPL’s way in less than a year. The previous order, pertaining to the supply of close to one lakh tonnes rails to Indian Railways was completed in April, JSPL said in the filing.

The rails will be manufactured and supplied from its Raigarh facility. JSPL has a 1 million tonnes per annum (MTPA) rail mill at the facility in Chhattisgarh.

RVNL is a public sector undertaking (PSU) under the aegis of the Ministry of Railways. It acts as an umbrella special purpose vehicle (SPV) to undertake projects directly or by creating project specific SPVs.