JSPL Reports a Net Profit of Rs 903 crores in Quarter-2 of this Financial Year

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JSPL Reports a Net Profit of Rs 903 crores in Quarter-2 of this Financial Year

NEW DELHI (Metro Rail News): Jindal Steel & Power Ltd has reported a consolidated net profit of Rs 903.30 crore, during the September quarter of the financial year 2021, as against a net loss of Rs 321 crore during the same period last year on the back of increased steel prices and better domestic demand in the market. JSPL had reported a net profit of Rs 290 crore during the previous quarter (i.e. April – June 2020).
“Quarter ended September’20 went well for the entire Steel industry in India with utilization levels increasing and domestic demand coming back as the lockdown eased and business normalized across the country,” the JSPL said in a statement.
“The domestic demand returned and our company increased its sales within India… On the back of increased volumes and the marginal increase in realisations, JSPL standalone reported gross revenue of Rs. 8,667 crore,” a statement read.

The company’s consolidated gross revenue for the quarter was recorded at Rs 9,804, up 22% year-on-year as against Rs 8,047 crore in the same period last year.

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JSPL Rails.

JSPL Standalone Performance

During 2QFY21, JSPL Standalone reported highest ever steel production volumes (incl. pig iron) at 1.84 million tonnes (Up 16% YoY) and sales of 1.93 million tonnes (up 30% YoY). As domestic demand returned, the company increased its sales within India, reflected in declining export trend in the reported quarter, declining to 38% (vs. 58% in 1QFY21). Exports stood at 0.74 million tonnes.

While the flat prices rallied during the quarter, long prices were largely range bound during the monsoons, though overall better on a sequential basis. On back of increased volumes and marginal increase in realisations, JSPL Standalone reported gross revenue of Rs. 8,667 Cr. Increasing efficiencies and lower raw material costs helped JSPL Standalone post it’s reported highest ever EBITDA at Rs. 2,435 Cr (Up 33% QoQ).

During 2QFY21, production of pellets was 2.01 million tonnes. The company recorded external pellet sales of 0.73 million tonne during 2QFY21.

JSPL Consolidated (Ex-Oman)Performance

In 2QFY21, JSPL reported Consolidated Gross Revenue of Rs. 9,804 Cr (up 14 % YoY) while Consolidated EBITDA increased to Rs. 2,702 Cr (up 78% YoY).

Net Debt to EBITDA (Trailing) at the end of the quarter ending September’20 stood at 3.52 x (vs 4.20x as of June’2020) (EX-Oman). As of September -end FY2021, JSPL reported Consolidated Net Debt of Rs. 28,910 Cr. On a constant currency basis, based on 31st Mar’20 exchange rates, the Net Debt reported would be Rs. 29,052 Cr (Ex-Oman). (Reduction of 6,867 Cr since March’20).

Shares of JINDAL STEEL & POWER LTD. was last trading in BSE at Rs.189.6 as compared to the previous close of Rs. 190.55. The total number of shares traded during the day was 373444 in over 4592 trades. The stock hit an intraday high of Rs. 192.85 and intraday low of 185.9. The net turnover during the day was Rs. 70752859.

Afcons gets Delhi – Meerut RRTS Line’s Package 8 after it emerges as the lowest bidder

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NEW DELHI (Metro Rail News): Afcons Infrastructure has emerged as the lowest bidder for constructing the 5.68 km underground Package 8 of the 82.15 km Delhi – Meerut (RRTS) Line after the National Capital Region Transport Corporation declared financial bid results.
NCRTC invited tenders for this package in February 2020 with an estimate of approximately Rs 1750 crore and has set a deadline of 1310 days (3.6 years) for the work. Technical bids were opened in July.

After the 5.6 km New Ashok Nagar Ramp – Anand Vihar – Sahibabad Ramp Package 4 in Delhi, for which STEC emerged as the lowest bidder in June. This Package is the second and final for the construction of underground section of the line. It will have three stations at Meerut Central, Bhaisali and Begumpul in which Meerut Central and Bhaisal will exclusively serve Meerut’s local metro system. 

Financial Bid Values:

Afcons Infrastructure Ltd. – Rs. 1529.10 Crores

Larsen & Toubro (L&T) Ltd. – Rs. 1602 Crores

Yapı Merkezi İnşaat ve Sanayi A.Ş. – Tata Projects Ltd. (YM-TPL JV) – Rs. 1620.33 Crores

Gulermak Agir Sanayi Insaat ve Taahh. A.S. (Gulermak) – Rs. 1707.50 Crores


Scope of the work includes Design and Construction of Tunnels by TBM from near Brahampuri DN Ramp to Begumpul UP Ramp and 3 Under Ground Stations at Meerut Central, Bhaisali & Begumpul by Cut & Cover Method including Architectural Finishing and Design, supply, installation, testing and commissioning of Electrical and Mechanical Systems including Fire detection & suppression System and Hydraulic systems on Delhi – Ghaziabad – Meerut Corridor under this package.

Indian Railways is ready to start Mumbai local train services

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Indian Railways is ready to start Mumbai local train services

MUMBAI (Metro Rail News): After the Maharashtra government wrote a letter to the railway authorities that the general public is allowed to travel by Mumbai local trains during non-peak hours, the Western Railway and Central Railway on Wednesday said they are ready to augment suburban services keeping social distancing norms.”We are working closely with the Maharashtra government to provide these additional services after consultation with them about necessary modalities accordingly, the Central Railway and Western Railway said.

Earlier, in a letter to the railways, the state government suggested that any person holding a valid ticket be allowed to board local trains till 7.30 in the morning, between 11 am to 4 pm, and between 8 pm till the end of the day.

The time between 8 am to 10:30 am and 5 pm to 7.30 pm should be reserved for essential services staff having valid QR coded identity cards, and there should be ladies special trains every hour, the state government said.

“The state is looking to open up the local train services to the general public while ensuring adherence to all COVID-19 protocols,” said the letter marked to general managers of Central Railway and Western Railway beside the Government Railway Police commissioner. The state government also sought an increase in the frequency of suburban services that are being operated for essential services staff since June 15. Currently, the railway authorities are operating 1,410 special services on the Mumbai suburban network, including 10 ladies special trains.

L&T in talks with SBI & Telangana government for Financial Recovery of Hyderabad Metro

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L&T in talks with SBI & Telangana government for Financial Recovery of Hyderabad Metro

HYDERABAD (Metro Rail News): Larsen & Toubro (L&T), operator of the Hyderabad metro rail project, said it is in discussions with State Bank of India (SBI) and the Telangana government to make the project financially viable.

“There is huge finance involved; there are other aspects involved. We are in constant dialogue with the government of Telangana and (lead banker) SBI to see what is best from a financial point of view to refinance the project and make it viable,” said SN Subrahmanyan, CEO & MD of L&T, during the company’s post-earnings media call on Wednesday.
L&T fully commissioned the Hyderabad metro rail project in February 2020. In March it saw a daily ridership of 500,000 people. Operations came to a grinding halt towards the end of March due to the nationwide lockdown imposed to contain Covid-19. After being fully shut for over five months, the metro rail began partial operations on September 7.

Operations are being resumed in a graded manner. Ridership has only reached 100,000 on a daily basis, as many commuters are keeping away from the metro, fearing a Covid-19 infection, and this is making the recovery all the more challenging. While the lockdown had put the brakes on operations and cash flows, L&T continued to incur fixed operational costs, depreciation and interest expenses. All this raised serious questions on the financial viability of the project, which is also burdening L&T’s balance sheet at the consolidated level.

Mumbai – Pune – Hyderabad High-Speed Rail Corridor gets a push

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Mumbai – Pune – Hyderabad High-Speed Rail Corridor gets a push

MUMBAI (Metro Rail News): The tender which has been floated for preparing the DPR for Mumbai – Pune – Hyderabad High-Speed Rail Corridor is being seen as a ray of hope. The Mumbai – Pune – Hyderabad High-Speed Rail Corridor is an approx 711 km long corridor. This is a significant development by the central government about the Mumbai-Pune-Hyderabad high-speed rail corridor project.

The government has issued the first Tender in a major action to prepare a detailed project report (DPR) for the Mumbai-Pune-Hyderabad high-speed rail corridor project. Tender is being taken as a big opportunity for companies like IRCON, L&T, TATA, and RITES. The first pre-bid meeting is scheduled to be held on November 5, 2020.

The tenders are scheduled to be issued on November 18, 2020, where the last successful bidder will be awarded the Tender. The survey identifies overhead, ground, underground utilities, and identification power sourcing options for substations along the proposed Mumbai-Pune-Hyderabad high-speed rail corridor.

Few major happenings are likely to take place in the month of November.

Survey Bids for Mumbai – Hyderabad High-Speed Rail now Open

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Survey Bids for Mumbai – Hyderabad High-Speed Rail now Open

NEW DELHI (Metro Rail News): National High-Speed Rail Corporation Limited (NHSRCL) has invited bids for the preparatory survey work for developing the Detailed Project Report of the proposed Mumbai – Pune – Hyderabad High-Speed Rail corridor.
This is the fifth of six new high-speed rail corridors, planned by the Government of India in 2019, for which basic preliminary work has commenced to start construction on the project.
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Others already in the preparatory stage include the 865 km Delhi – Varanasi line, 886 km Delhi – Ahmedabad line, 741 km Mumbai – Nagpur line, and 465 km Delhi – Amritsar line.

The Scope of the work includes Survey, Identification of Overhead, Over Ground, Underground Utilities And Identification Of Power Sourcing Options for substations along with the proposed Mumbai – Pune – Hyderabad High-Speed Rail Corridor. The deadline for the work is 112 after the bid is allocation.
On the Mumbai end of the line, the line’s new civil infrastructure is expected to start from Thane, or thereabouts, and branch off from the 508.17 km Mumbai Ahmedabad High-Speed Rail corridor’s Package C3 for which a tender notice is currently pending due to different problems.

Dakshineswar Metro trial may start in November

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Dakshineswar Metro trial may start in November

KOLKATA (Metro Rail News): Trials and tests for the Dakshineswar Metro are likely to start on November 15. The test runs along the 4-km extension of the city’s existing north-south stretch to Dakshineswar is a prelude to its launch sometime in December, according to officials.
The trials will start with the self-operated engine run on November 15 and then there will be a joint testing of the system by Metro Railway and Rail Vikas Nigam Limited (RVNL). Metro Railway, which runs the Kavi Subhas-Noapara Metro services and the truncated Sector V-Phoolbagan stretch of the East-West Metro, will be operating the new section. RVNL is the implementing agency of the extended corridor.
Before the trials start, the crucial Train Protection Warning System (TPWS) equipment — a software that prevents accidents — may arrive from Germany during the first week of November. These issues were discussed at a video-conference between the agencies on Tuesday.
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Even as Kolkata Metro Railway has applied for inspection by the Commissioner of Railway Safety (CRS) for the 4-km extension, the crucial accident prevention technology, which was due to be delivered by Siemens from Germany in March, ran into lockdown restrictions.
A report of the trials and the joint testing undertaken by Metro Railway and RVNL to check the section’s readiness will have to be sent to CRS’ Lucknow headquarters before it agrees to inspect and gives the date of visit. Officials said the trials and testing shouldn’t take much time because this was only an extension of the existing 27-km north-south corridor. “The TPWS software may be delivered sometime next week. It will take four or five days for its installation in the tracks. After this, we shall check the software’s performance,” an official was quoted by TOI.

A Long Wait for the Proposed Light Rail System of Jammu & Srinagar

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A Long Wait for the Proposed Light Rail System of Jammu & Srinagar

JAMMU (Metro Rail News): Although a lot of things are being proposed, it’s going to be a long route for the Union Territory of Jammu and Kashmir to get a light rail system. According to sources, the Light Rail System for the capital cities has yet not been sanctioned by the Union Ministry of Housing and Urban Affairs even after the Rail India Technical and Economic Service (RITES) submitted Detailed Project Reports earlier this year.

“Presently, the DPRs are lying with the Union Ministry of Housing and Urban Affairs and the same are yet to be approved. The Mass Rapid Transit System Projects including metro rail/monorail are cost-intensive which require extensive Inter-Ministerial consultations and their approval depends on the feasibility of projects and availability of resources as such no time limit can be specified for sanction of the projects for Jammu and Srinagar”, an official was quoted saying by a media agency.

As proposed, in Phase-I of the elevated Light Rail Transit System in Srinagar, two corridors will be laid from HMT junction to Indra Nagar and Osmanabad. In Phase-II, two corridors will be laid from Indra Nagar to Pampore Bus Stand and Hazuribagh to Airport. In Jammu, in Phase-I, two corridors from Bantalab to Greater Kailash and Udheywala to Exhibition Ground will be developed while as in Phase-II, corridors will be built from Greater Kailash to Bari Brahamana Railway Station and Exhibition Ground to Satwari Chowk to Airport.

MahaRail Invites EOI for Pune-Nashik Semi High-Speed Rail’s Tunnel Work

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MahaRail Invites EOI for Pune-Nashik Semi High-Speed Rail’s Tunnel Work

MUMBAI (Metro Rail News): Maharashtra Rail Infrastructure Development Corporation Ltd also known as MahaRail, last week invited expression of interest (EOI) proposals for shortlisting civil contractors for constructing tunnels on the 234.60 km Pune – Nashik Semi High-Speed Rail project that aims to connect both cities with a greenfield broad-gauge double-line at an estimated cost of Rs. 16,039 crore.
A total of 18 tunnels with a combined length of 21680m are planned to be built on this line ranging from 180m to 6640m.Scope: Invitation for Expression of Interest (EOI) for Empanelment of Civil Contractors for Construction of Tunnels and other ancillary works in connection with Broad Gauge Railway Line Project between Pune and Nashik and any other project taken up by MRIDC.

24 stations are planned on the line at Pune, Hadapsar, Manjiri, Kolwadi, Wagholi, Alandi, Chakan, Rajgurunagar, Bhorwadi, Manchar, Narayangaon, Alephata, Bota, Jambut, Sakur, Ambhore, Sangamner, Devthan, Chas, Dodi, Sinnar, Mohadari, Shinde and Nashik Road.

North Delhi Municipal corporation allots 4 plots to DMRC for Phase-IV work

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North Delhi Municipal corporation allots 4 plots to DMRC for Phase-IV work

NEW DELHI (Metro Rail News): Clearing the way for starting construction work of Delhi Metro Phase-IV, the standing committee of North Delhi Municipal Corporation on Thursday approved the transfer of land at four sites for building viaducts and pillars for the RK Ashram Marg-Majlis Park and Janakpuri-Majlis Park corridors.

Three of the four land pockets are with the horticulture department of Rohini zone, while one is being used by the engineering department. The four patches of land measure 507.3 sqm, 112 sqm, 423.3 sqm and 298.97 sqm. A report of the standing committee stated that for a permanent transfer, the entire land cost needed to be paid. For temporary transfer, 5% of the land cost must be paid yearly. An annual payment of Rs 16.5 lakh was proposed for the temporary transfer of the land.

“Delhi Metro Rail Corporation (DMRC) won’t be able to use the land for commercial purposes without taking permission from the municipal corporation. Also, DMRC cannot sublet or lease the land to other parties on concessional rates for any revenue-generating purposes”, an official said.

5 firms take part for the General Consultancy bid of Mumbai Metro Line 10 & 12

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5 firms take part for the General Consultancy bid of Mumbai Metro Line 10 & 12

MUMBAI (Metro Rail News): Mumbai Metropolitan Region Development Authority (MMRDA) opened technical bids for the General Consultant (GC) contract to support civil work of Mumbai Metro‘s 9.20 km Line-10 (Gaimukh – Shivaji Chowk in Mira Road) and 20.7 km Line-12 (Kalyan – Taloja). According to sources, 5 bidders have submitted bids for the work.
The role of the General Consultant includes design, review, assistance in procurement, construction supervision (including monitoring of statutory obligations), project management services, contract administration and interface management including assistance in testing and commissioning of both lines.
MMRDA had invited bids in July and expects the GC to be onboard for 48 months. The selection is planned to be made on the Quality cum Cost Basis System (QCBS) method with the winner scoring the highest points in the Technical and Financial evaluation.

Mumbai Metro’s Line-10 will be built as a western extension of the 35.2 km Line-4/4A (Green Line) with 4 stations at Gaimukh Reti Bundar, Varsova Char Phata, Kashimira and Shivaji Chowk. Line-12 will be a 20.75 km southern extension of the 24.95 km Line-5 (Orange Line) with 17 stations at Ganesh Nagar, Pisvali Gaon, Golavali, Dombivli MIDC, Sagaon, Sonarpada, Manpada, Hedutane, Kolegaon, Nilaje Gaon, Vadavali, Bale, Waklan, Turbhe, Pisarve Depot, Pisarve, Taloja.

4 Bidders take part in the Delhi – Meerut RRTS Package 23

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NEW DELHI (Metro Rail News): Four firms have submitted bids for commissioning the tunnel ventilation system (TVS) and environmental control system (ECS) Package 23 for the 82.15 km Delhi – Meerut RRTS. NCRTC had invited tenders for this package of the two underground sections of the line in July 2020.

This project is funded by the Asian Development Bank. Estimated cost of the work is $33.83 million and completion period is 1550 days. The firms participating in Blue Star Ltd., ETA Engineering Pvt. Ltd., STRABAG International and Voltas Ltd.

The Scope of the work includes Design, Detail Engineering, Supply, Installation, Testing and Commissioning of ECS, TVS, Electrical, ECS -E and M BMS, TVS BMS and TVS SCADA OCC/BCC Systems of 4 Under Ground Stations including Ventilation Buildings on Delhi-Ghaziabad- Meerut RRTS.
The four underground stations will be located at Anand Vihar within Delhi, and at Meerut Central, Bhaisali and Begumpul in Meerut. The tunnel ventilation system will be deployed on Package 4 (STEC was the lowest bidder) connecting New Ashok Nagar – Sahibabad primarily in Delhi and on Package 8 (technical bid evaluation underway – NCRTC received 5 bids) connecting Brahampuri DN Ramp with Begumpul UP Ramp in Meerut. The financial bids will be opened after evaluation of technical bids.

IRCON Wins Electrification Package 19 for Delhi – Meerut RRTS

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IRCON Wins Electrification Package 19 for Delhi – Meerut RRTS

NEW DELHI (Metro Rail News): Central government’s firm IRCON International Ltd. has emerged as the lowest bidder for the 82.15 km Delhi – Meerut RRTS Line‘s Package 19 involving 25kV AC overhead equipment (OHE) electrical supply works, after officials from the National Capital Region Transport Corporation (NCRTC) opened financial bids submitted by different firms.
NCRTC invited bids in January from firms in 2 lots (sub-packages) – the first from Sarai Kale Khan to Duhai EPE and the second from Duhai EPE to Modipuram.

The NCRTC opened technical bids in June to reveal 7 firms had submitted a total of 11 bids. During technical bid evaluation, Tata Project’s bid for Lot-1 and Linxon’s bid for Lot-2 was rejected and as such their financial (price) bids were not opened.
Bid valuesIRCON International Ltd. Rs 317.80 crSterling & Wilson Pvt. Ltd. – STS JV Rs 325.93 crSiemens Ltd. – KEC International Ltd. JV Rs 347.43 crLarsen & Toubro Ltd. (L&T) Rs 405.00 cr

Scope of Lot-1 includes Design, Supply, Installation, Testing and Commissioning of Receiving Sub Stations [including 25 kV AC Traction cum 33 kV Auxiliary Main Sub Stations], Extra High Voltage & High Voltage Cabling, 25 KV Overhead Equipment (FOCS/ROCS), Auxiliary Power Supply [includingAuxiliary Sub Stations], Operation Control Centre and Associated Works on Viaduct & Tunnel from Sarai Kale Khan to Duhai (EPE) [including Jangpura Stabling Yard and Duhai Depot] and SCADA System for Complete Corridor of Delhi–Ghaziabad–Meerut RRTS Corridor of NCRTC.

Financial Bid Values:


IRCON International Ltd. – Rs 404.94 crores

Siemens Ltd. – KEC International Ltd. JV – Rs 441.27 crores

Sterling & Wilson – STS JV – Rs 443.27 crores

Larsen & Toubro Ltd. (L&T) – Rs 535.00 crores

Alstom Transport India Ltd. – Rs 750.87 crores

Scope of the work includes Design, Supply, Installation, Testing and Commissioning of Receiving Sub Stations [including 25 kV AC Traction cum 33 KV Auxiliary Main Sub Stations], Extra High Voltage & High Voltage cabling, 25 KV Overhead Equipment (FOCS/ROCS), Auxiliary Power Supply [including Auxiliary Sub Stations] and Associated works on Viaduct & tunnel from Duhai (EPE) to Modipuram [including Modipuram Depot] for Delhi–Ghaziabad–Meerut RRTS Corridor.

Dr Mahesh Sharma Unveils NMRC’s Sector 50 Station As “Pride Station” Dedicated to the Transgender Community

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Dr Mahesh Sharma Unveils NMRC’s Sector 50 Station As “Pride Station” Dedicated to the Transgender Community

NOIDA (Metro Rail News): Noida Metro Rail Corporation (NMRC) today officially dedicated its Sector – 50 Metro Station to the Transgender Community.

“This station was today unveiled as “Pride Station” by Dr Mahesh Sharma, Hon’ble Member of Parliament, Gautam Buddha Nagar, U. P. and Shri Pankaj Singh, Hon’ble MLA, Noida, U. P. in the presence of Smt. Ritu Maheshwari, Managing Director NMRC and CEO (Noida Authority)”, the NMRC said in a statement.

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“Also present during the occasion were the Six (06) members of the Transgender Community who have been recruited by NMRC through their contractors. These members of the Transgender Community will be deployed at the Sector 50 Metro station. These members from the Transgender were provided with the necessary training by NMRC before deployment”, it added.
Members from the NGO “Nazariya” were also present during the occasion. This NGO works exclusively with the Transgender Community and addresses their issues and other concerns. NMRC worked closely with this NGO to better understand the concerns of this community. “Nazariya” also conducted workshops for NMRC staff to generate awareness and sensitise them towards this Community and trained them to communicate with the trans community in a sensitive and cordial manner.

A BRIEF ABOUT NMRC’S “PRIDE” STATION

It is a first of its kind initiative introduced by a Metro system in Northern India. This step has been taken by NMRC for the inclusion and meaningful participation of the members of the transgender community. As per Census 2011, there are 4.9 lakh transgenders in India out of which around 35,000 are staying in NCR. These numbers may have increased manifold in the present scenario. This noble initiative by NMRC was inspired by the Transgender Persons (Protection of Rights) Act, 2019, passed by the Government of India, which aspires to protect the rights of the Transgender people and works towards their welfare. 
The station has been named “Pride” as the NMRC feels extremely proud and privileged to have qualified members of the Transgender Community as part of the NMRC family. It also instils a sense of pride among the community and this step by NMRC is bound to be a ray of hope for the upliftment of the members of this community and help in breaking stereotypes about them so that they too can live a dignified life with their head held high. 

The name was selected after receiving suggestions from the general public and various NGOs and other organisations that work for this community. Suggestions were called online from people on NMRC’s website and Maximum people suggested the name “Pride”.The “Pride” station, though dedicated to the Transgender Community, will be open for all passengers. It will also provide employment opportunities for the Transgender Community.  

The Artwork and look of the station have also been done to signify the essence and spirit of the members of the Transgender Community. To provide the Transgender Community with employment opportunities and to enable their meaningful inclusion in the society, NMRC had also come up with vacancies for the Transgender Community. NMRC had come out with 06 vacancies (04 for Ticket Vending Operator and 02 for Housekeeping Staff) for the Transgender Community.

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