Friday, 30 June 2017

Indian Railways safety overhaul at risk due to rail shortage >> Free Stock Tips and more click now-

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A planned $15 billion safety overhaul of India's aging rail network is facing delays as the country's state steel company is unable to meet the demand for new rails.

State-owned Steel Authority of India Ltd (SAIL) has promised to meet only around 78 percent of demand in the year to end-March 2018, prompting Indian Railways to escalate the problem to the office of Prime Minister Narendra Modi, communications between the railways and the steel ministry show.

The shortfall means upgrades of the accident-prone network could move at a slower pace than the five years initially planned, and underscores the problems facing Modi as he tries to modernize India's infrastructure. Supplies of rails are only expected to improve next year.

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