SAIL to ink pact with Iran for supplying railway tracks

[rmi5]

No one on this forum knows me for posting emotional content, so you better find a more proper counter argument.

How are my words empty, but yours are rich while you are the one who is talking about future as if you can predict things. I think this argument will have no result, since one side can't distinguish between political hatred and reality and mixes them.

You and I, we will talk about this issue in less than a year, you can mark my words and I will mark yours. Talking about future deals is meaningless, so let's see what happens when the result is clear, whether the negotiations fail or succeed.

Because I am talking about real problems and I am addressing that each of them would cost billions and years to be resolved, while you are saying that every thing would get OK without providing any reason. BTW, Rohani wanted to make everything OK in 100 days, but what has happened? monthly payments(Yaraaneh) is going to vanish, petrol would get more expensive, inflation is over 30-40 percent, ... and nothing has happened.
The difference between me and you is that I don't believe empty slogans of mullahs or anyone else. I need to see real numbers and plans to resolve issues, otherwise I would not believe it.

 

[haman10]

Awesome news

may all jealous people burn their butts off

 

[jarves]

Awesome news

may all jealous people burn their butts off

LOL i thought you were permanently banned for making multiple ID's.

 

[haman10]

LOL i thought you were permanently banned for making multiple ID's.

i made @haman10-2 for complaining in GHQ . thats a pretty obvious ID , i think . so no mate .

 

[godofwar]

It is not going to happen. building 15,000 km rail road needs at least 13-15 billion dollars(1-1.5 million$ per mile) which it is not feasible for Iran. Do not forget that mullahs have begged for 4.2 billion dollars and gave up their own nuclear facilities for only 4.2 billion $s.
Brother, try to ignore the BS propaganda news from mullahland, and do not take their news seriously.

I thought Iran was flush with money, like the Saudi and other oil exporters


I am guessing its a barter agreement for Iranian oil since India, or any country for that matter, can not pay Iran in dollars.

 

[Ayush]

great news.

 

[t_for_talli]

SAIL to ink pact with Iran for supplying railway tracks
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With the Western nations easing sanctions on Iran, the country’s biggest steel maker SAIL is all set to sign a definitive agreement to supply steel worth nearly Rs 15,000 crore to help Tehran set up a railway network project spanning over 15,000 km to connect its major ports and key production centres.

Khaleel Rahim, chairman of state-owned trading firm State Trading Corporation (STC) is slated to visit Tehran this week to finalise some of the formalities that could pave the way for steel exports from India.

Iran had sought Indian investment in massively expanding its railway network and needs about 3 million tonnes of steel rails to connect all major cities, industrial centres and also ports for faster evacuation of goods.

Last year, Washington had eased sanctions on Iran, which has enabled Indian companies to explore investment options. The commerce ministry officials had in December last year, met the top brass of SAIL, BHEL and railway infrastructure builder IRCON to consider investing in the west Asian nation.

A top commerce ministry official told The Indian Express that the STC has been entrustedwith inking definitive agreements with its Iranian counterpart to pave the way for Indian steel exports there.

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“Iran is seeking around 3 MT of steel and STC chairman Khaleel Rahim would visit Tehran this week to finalise the formalities,” the official said. Other companies like Jindal, Vizag Steel and Essar are also in the race, a source said.

When contacted, SAIL chairman C S Verma said after several rounds of discussions with the commerce ministry and STC, SAIL has expressed its readiness in supplying 3 MT rail steel. “We are supplying rails to Indian Railways since many years. Our director commercial Vinod Kumar would accompany Khaleel Rahim to help him finalise the modalities,” Verma said.

SAIL’s Bhilai steel plant is the sole supplier of the country’s longest rail tracks of 260 metres. With an annual production capacity of 3.15 MT of saleable steel, the plant also specialises in other products such as wire rods and merchant products.

The commerce ministry official said Indian exporters are banking on the UCO Bank to help implement the rupee payment mechanism. The easing of the payment mechanism has helped propel Indian exports to Iran to over $ 550 million, which, is around eight times the exports few years ago.

UCO Bank, in 2012, began handling payments for India-Iran trade, under which domestic oil refiners buy oil from Iran but make payments into an ‘Iran Account’ with UCO Bank’s Mumbai branch. When Iranians import goods from India, the bank pays the Indian exporters out of this account.

India-Iran trade is expected to cross the $20-billion mark in FY14, up from $15 billion in FY13. India’s exports to Iran include rice, metals, machinery and instruments, primary and semi finished iron and steel, drugs and pharmaceuticals, processed minerals, manmade yarn and fabrics, tea and rubber manufactured items. Imports from Iran include crude oil, urea, petroleum products, saffron and dry fruits.

@SOHEIL @haman10 @rmi5 @Ostad @Abii @Sam1980 @mohsen @JEskandari @Serpentine and any other member i may have missed.

SAIL to ink pact with Iran for supplying railway tracks | The Indian Express

This is the same company which manufactures steel for Indian aircraft carriers.

Bhilai Steel city is my hometown

Total length of rails produced by Bhilai Steel Plant is over 10 times Earth's circumference

 

[rmi5]

I thought Iran was flush with money, like the Saudi and other oil exporters


I am guessing its a barter agreement for Iranian oil since India, or any country for that matter, can not pay Iran in dollars.

It was, it no longer is so.
That maybe a better explanation for this news, although I believe that it won't happen.

 

[godofwar]

It was, it no longer is so.
That maybe a better explanation for this news, although I believe that it won't happen.

Nope sanctions are relaxed as far as I know, not abandoned.

 

[rmi5]

Nope sanctions are relaxed as far as I know, not abandoned.

So what? What I am saying is that Iran has not that amount of money.

 

[godofwar]

So what? What I am saying is that Iran has not that amount of money.

Please re-read.
Iran may not have money right now, but India will supply steel incrementally as it buys oil.

 

[Hack-Hook]

well , in my book it's definitely better to import steel than rice for the oil we export to India , and the news was that after relaxation of sanctions India import of Oil from Iran become several time more than what was last year .

 

[kouroshkourosh]

@Serpentine

offtopic ha ro pak kone bere