Indian steel maker Steel Authority of India Ltd (SAIL) has entered into a long-term tariff contract with the Indian Railways involving 15 zones for loading and unloading terminals. The contract concerns different commodities, including iron and steel, pig iron, slag, limestone, dolomite and manganese ore with a benchmark gross freight revenue (BGFR) of Rs 34.17 bn (449 million euros) and with corresponding tonnage of 19.3 million tonnes effective from September.
At present this is the highest long-term tariff contract (LTTC) agreement in terms of gross freight revenue of the Indian Railways. LTTC has been introduced by the Indian Railways to establish long-term contracts with customers with guaranteed incremental revenue for the Indian Railways.
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