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Steel Authority of India misses target for rail supply in 2017/18 for third year

Reuters  |  NEW DELHI 

By Neha DasguptaNEW DELHI (Reuters) - Steel Authority of India Ltd (SAIL), the country's largest state-owned alloy producer, failed to meet its target to supply rails for Indian Railways during the fiscal year for 2017/18, underscoring the problems of modernising the country's rail network.SAIL, which swung to profits in the October to December quarter after 10 straight quarterly losses, supplied 874,000 tonnes of steel in 2017/18, as against the revised target of 950,000 tonnes, according to a document the company prepared for Ministry of Steel that was reviewed by Reuters. The 2017/18 ...

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First Published: Thu, April 12 2018. 15:13 IST