Railways bets big on long-term contracts to regain its lost marketshare

It crossed 1000 MT of freight traffic in 2016-17, expects to achieve estimate of 1094 MT by March

Indian railways is betting big on the long-term contract plan to regain its lost market share in sectors like cement, steel and fertilisers. According to sources close to the development, in cement sector only the national carrier is targeting at least 110 million tonne cargo in the financial year 2017-18.

Railways is already in touch with companies like UltraTech Cement Ltd and ACC Ltd and also the Cement Manufacturers' Association (CMA). Railway minister Suresh Prabhu had launched a policy for long-term contracts with major freight customers on Thursday. 

"Our main focus is on sectors like cement, steel, fertilisers, grains, iron ore, scrap