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Mumbai, Feb. 26

“We do not see any reduction in freight charges and the announcement to go in for stainless steel coaches by 2010-2011 is definitely a boost to the industry,” said Mr Seshagiri Rao, Director Finance, JSW Steel Ltd. However, Mr Rao was apprehensive on freight rate rise in the busy season and said it would push up cost for the company. On overall allocation of Rs 75,000 crore for upgrading infrastructure in a seven-year period, he felt it was inadequate. China was setting aside close to $42 billion each year, he pointed out. The need was to strengthen infrastructure — with more lines — given the growth the industry was planning, he said.

– Our Bureau

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