JSPL lowest bidder in RVLN's 4.45 LT rail tender: MD

Steel maker Jindal Steel and Power (JSPL) has emerged as lowest bidder in a tender worth approximately Rs 3,300 crore, floated by Rail Vikas Nigam (RVNL) for supply of 4.45 lakh tonnes of rails, a top company official said Monday.

RVNL functions as an extended arm of the Ministry of Railways. It is empowered to act as an umbrella special purpose vehicle (SPV) to undertake projects directly or by creating project specific SPVs, according to its website.

Last year, RVNL had floated a tender for supply of 4.45 lakh tonne of rails, JSPL Joint Managing Director N A Ansari said, adding that the company had participated in the tender.

"We are the lowest bidder or L1 for the order. Now the RVNL is evaluating other aspects before placing the order. We are hopeful of a positive outcome as early as possible," he added.

An email query sent to RVNL remained unanswered.

JSPL has presence in steel, power, mining and infrastructure sectors. The company operates 1 million tonne per annum (MTPA) rail mill at its Raigarh plant in Chhattisgarh.