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News Entry# 334434
  
Apr 17 (00:00) Railways to spend Rs 9000 crore in 3 years on new wagons (m.economictimes.com)
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News Entry# 334434  Blog Entry# 3310983   
  Past Edits
This is a new feature showing past edits to this News Post.
The Indian Railways will spend Rs 9,000 crore over the next three years to procure new wagons as it seeks to up its game in goods transportation.
A senior railway ministry official told ET that the national transporter aims to procure about 38,000 new wagons by 2020, a move that will bring joy to private sector wagon makers.
The railways had procured less than 8,000 wagons in the last financial year against the budgeted target of 12,000.
“Most
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of this procurement will be because the freight transportation by railways is gradually picking up,” the official said requesting anonymity. “Some of it will be replacement as well as we plan to include higher capacity wagons to our fleet.”
Rail freight volume rose 53 million tonnes (mt) to 1,162 mt in 2017-18. For FY19, the railways has a freight loading target of 1,216 mt, which will fetch it Rs 1.21 lakh crore or about 60% of total targeted revenue for the year.
The railways has launched several freight schemes to increase its share in goods transportation, which has come down to around 30% as the national transporter has lost its dominance to the roadways. “We have been unable to serve a lot of demands because of unavailability of rakes,” said the official quoted above. “Now, we have told our bulk consumers that they would get assured rakes throughout the year. Hence, this bulk addition of wagons makes a lot of financial sense for us.”
The proposed move is expected to benefit companies such as Texmaco Rail and Engineering, Titagarh Wagons, Jindal Rail and Jupiter Wagons, which are the railways’ largest wagon suppliers. Instead of awarding piece meal tenders, the railway ministry has decided to invite a bulk tender under the bucket filling method, which will give the lowest bidder the option to supply all the wagons in a fixed time frame. In case the lowest bidder is not able to serve, the second lowest bidder will get the chance to supply the tendered quantity.

  
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Apr 17 (00:02)
16591🔹Hampi Express🔹16592^~   8677 blog posts   1597 correct pred (92% accurate)
Re# 3310983-1            Tags   Past Edits
Railways to spend Rs 9000 crore in 3 years on new wagons
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