Railways, industry to rake it in with long-term plan.
Economic Times (New Delhi, India), June, 2007
Jun. 20--NEW DELHI -- The giants of India Inc -- the likes of Reliance Industries, Tata Steel, SAIL, Anil Dhirubhai Ambani group (ADAG), Lafarge and Gujarat Ambuja -- will now receive freight service guarantee from Indian Railways.
They would soon be able to enter into long-term service agreement with Railways for on-time movement of products. A failure on the part of the Railways to deliver goods on time or a failure by the companies in using a specified number of wagons would attract penalties.
In other words, the Railways would compensate users for a delay in providing freight services while users would have to pay a fine if they are not able to provide the promised load to the Railways.
It is potentially a win-win situation for both the...
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