SAIL bagged RVNL contracts for rail line projects in country
SAIL bagged contracts to supply over 1.17 lakh tonnes of rails for two global tenders for major upcoming passenger rail line projects in India.
Steel Authority of India Ltd (SAIL) on 29 April 2014 won contracts to supply over 1.17 lakh tonnes of rails for two global tenders floated by Rail Vikas Nigam Limited (RVNL). The contracts have been given for major upcoming passenger rail line projects in the country.
An estimated value of the two contracts is over 650 crore rupees.
Rail Vikas Nigam Limited (RVNL)
Rail Vikas Nigam Limited (RVNL) was created by the government in 2003. It is a Special Purpose Vehicle to undertake project development, mobilization of financial resources and implement projects pertaining to strengthening of Golden Quadrilateral and Port Connectivity. RVNL has been registered as a company under Companies.
Steel Authority of India Limited (SAIL)
SAIL is India's largest steel producing Maharatna company. It has a turnover of 49350 crore rupees and is among the seven Maharatnas of the country's Central Public Sector Enterprises. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.