Steel demand of Indian railways will increase in Fiscal year 2016-17

Indian railways 'steel demand will increase in 2016-17 fiscal year: According to a senior official from the Indian government, based on Indian Railways' project assessment, Indian railways, which is managed by the state, 2016-17 predicts an increase compared to the 6 increase seen in the previous year.
The government's official said the company's increased steel demand for rail equipment production stemmed from Indian Railways' intention to complete the new 800 km rail and 15.500 rail passenger and shipping wagon production.
Due to Indian Railways' 2.500 km rail renewal plan, the company is expected to need additional rail.
However, according to him, Indian Railways' expected increase in domestic steel demand was determined without taking into account the steel to be used in the eastern and western shipping corridors, which will increase steel demand next year.

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