Financial Daily from THE HINDU group of publications
Sunday, May 02, 2004
Financial Daily from THE HINDU group of publications Sunday, May 02, 2004 |
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Corporate
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Announcements Essar Steel inks supply pact with Konkan Railway Our Bureau
Mumbai , May 1 ESSAR Steel Ltd has signed an MoU with Konkan Railway Corporation (KRCL) for supply of steel plates for its sky bus projects to be executed both in India and abroad. KRCL has received a letter of intent for building a 17-km sky bus project in Goa and many such similar projects are in advanced stages of finalisation. Initially, it will lay a test track of 1.6 km at Madgoan, which will be ready shortly. As per the terms of agreement, Essar Steel shall be a preferred steel supplier and Konkan Railway would source at least 50 per cent of its requirement of steel plates for all sky bus projects. Mr Vikram Amin, Executive Director, Essar Steel, confirmed the development and said, "The initial lot of steel plates for the test track has already been supplied and Essar is keenly awaiting the completion of this project. Essar Steel looks forward to receiving orders for similar projects by Konkan Railway." The company operates a 2.4 m.t.p.a. modern steel plant at Hazira. During the year, it has become the approved supplier to leading international earthmoving equipment manufacturer and automobile companies. The company is continually endeavouring to reduce cost and increase plant efficiency.
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