After the commissioning of the new rail mill at Angul, the company's total rail-making capacity will be 2.2 MTPA, JSPL said.

JSP has developed speciality rails like 1175 HT, R350 HT, asymmetric rails, and 1080HH rails at its existing 1 MTPA rail mill in Raigarh, Chattisgarh. These rails are an import substitution product, required for heavy axle loads of more than 25MT. These rails are primarily used by various Metro Rail Corporations, high-speed corridors and the Bullet Train project.

The Raigarh rail mill is regularly supplying 260m rails to Indian Railways, DFCCs and other critical projects of national importance.

JSP's speciality rails of 1080 HH grade are being utilized, at almost all the Metro and RRTS systems in India. Such rails are also used in Special projects of National civil-military importance of remote connectivity having difficult terrains such as the USBRL Project (J&K) and Sivok - Rangpo Project in West Bengal. JSP has also supplied speciality rail blooms for the European railways, thus positioning itself as a world-class rail manufacturer.

Bimlendra Jha, managing director, Jindal Steel & Power, said: “JSP is committed to supporting the Government's initiatives of Gati Shakti Yojna, as part of the AtmaNirbhar Bharat Abhiyan by making available domestically produced import substitution products at competitive prices. JSP is proactively adding and augmenting further Rail manufacturing capacity to support the modernization of the Indian Rail network.

Even though there is surplus Rail capacity in India, there are markets abroad we will be looking to feed as well after meeting India's requirements.”

Jindal Steel & Power (JSPL) is a leading Indian infrastructure conglomerate with a presence in the steel, power, and mining sectors.

The company's consolidated net profit declined 67.92% to Rs 518.67 crore as sales remained flat at Rs 12,452.44 crore in Q3 FY23 over Q3 FY22.

The scrip shed 0.27% to currently trade at Rs 558 on the BSE.