
Marhowrah plant set to ship first heavy-haul locomotive to Guinea
Patna: Bihar's Marhowrah-based diesel locomotive factory (DLF) is poised to export its first heavy-haul locomotive to the Republic of Guinea in West Africa. The first shipment is scheduled to be dispatched via Gujarat's Mundra Port in the first week of June, a senior official said.
The DLF recently secured its maiden export order worth approximately Rs 2,000 crore to manufacture 140 Evolution Series diesel locomotives for the Republic of Guinea. On Monday, it unveiled its first export-ready diesel locomotive during a special event at its Marhowrah facility.
The DLF, a joint venture between American firm Wabtec Corporation and
Indian Railways
, was established to produce 1,000 high-power freight locomotives over a decade, specifically designed to run on Indian railway tracks.
It began manufacturing locomotives for Indian Railways in Sept 2018.
The Wabtec Corporation, in collaboration with Rio Tinto SimFer, a joint venture involving the Government of the Republic of Guinea, Rio Tinto and Chalco Iron Ore Holdings (CIOH), celebrated the unveiling of the first Evolution Series ES43ACi locomotive for the TransGuinéen Railway at the Marhowrah facility on Monday.
"It is part of SimFer's 2024 locomotive order to support the rail operations for the Simandou high-grade iron ore project, which is Africa's largest mining and infrastructure development project," a Wabtec official said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
How three Filipino cardinals eligible to be the next pope remember Pope Francis
CNA
Read More
Undo
The event was attended by delegations from the govts of Guinea, India and the United States, as well as executives from Rio Tinto SimFer, Indian Railways, and Wabtec. The showcased locomotive featured the striking blue and turquoise livery of La Compagnie de TransGuinéen.
"It is an honour to celebrate this milestone with our partners as we supply the advanced locomotives needed to meet the demands of the world's largest untapped high-grade iron mine," said Mpilo Dlamini, Wabtec's regional vice president for Sub-Saharan Africa. "This unveiling is a tribute to a global team that designed and built a locomotive specifically tailored for the Simandou project," he added.
The occasion also commemorated the first and largest export order for heavy-haul locomotives produced at the Marhowrah plant, which has already delivered more than 700 out of the planned 1,000 locomotives to Indian Railways.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Hindu
35 minutes ago
- The Hindu
Authorities decide to commence land acquisition for Sabari rail
Bringing renewed hope to more than 2,000 families across central Travancore whose properties have been marked for the long-pending Sabari rail project, the Revenue department has decided to resume land acquisition for the project. Official sources said an online high-level meeting convened by the State government on Wednesday has directed the District Collectors of Ernakulam, Idukki and Kottayam to proceed with acquiring the required land. As part of this renewed effort, the previously functional land acquisition offices at Perumbavoor and Pala will be reopened, while new offices are slated to be established in Muvattupuzha and Kanjirappally. 'Work on the project is expected to formally begin with the visit of a high-level team from the Indian Railways early next month,' sources said. The meeting also decided to retain the existing alignment of the rail line. The project is being planned in such a way that land acquisition and construction can proceed simultaneously. 24.4 hectares acquired So far, 24.4 hectares of land have been acquired for the project in the Angamaly–Kalady stretch. However, more than 200 hectares still need to be acquired across the three districts. In the first phase, land will be acquired from Kalady to Ramapuram. The second phase, covering the stretch from Ramapuram to Erumely, will follow completion of alignment surveys and a Social Impact Assessment (SIA). 'A special revenue team will be deployed for this purpose,' the sources added. As the initial notification for acquiring land for the project was issued prior to the introduction of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act in 2013, the government will have to restart the entire process in accordance with the new legislation. According to officials, a new government order (GO) for the land acquisition will be issued shortly to commence the proceedings. CM's meet The approval for the construction of the rail line connecting Angamaly and Erumely, the gateway to Sabarimala was announced after a meeting held between Chief Minister Pinarayi Vijayan and Union Railway Minister Ashwini Vaishnaw in New Delhi recently. The 111.48-km line was proposed in the 1997-98 Budget.


Hans India
35 minutes ago
- Hans India
The Top 5 Most Active Commodities for Trading in India
India's dynamic commodity markets offer many opportunities for traders and investors, fueled by the nation's immense consumption, agricultural backbone, and burgeoning industrial sector. While the direct ownership of physical commodities can be impractical, financial instruments such as futures contracts and Contracts for Difference (CFDs) provide accessible avenues for speculating on price movements and gaining exposure to these vital markets. In India, commodity futures trading is predominantly facilitated by two major exchanges: the Multi Commodity Exchange (MCX) and the National Commodity & Derivatives Exchange (NCDEX). The MCX leads the non-agricultural segment to trade commodities, encompassing precious metals, industrial metals, and energy, while the NCDEX specializes in agricultural commodities. This article will explore India's five most actively traded commodities, exploring their market dynamics. 1. Gold: The Eternal Safe Haven and Cultural Cornerstone Gold holds a unique and revered position in the Indian psyche, extending far beyond mere investment to encompass deep cultural and traditional significance. It is an indispensable part of weddings and festivals, and a crucial generational asset. This deep-rooted domestic demand and its global status as a safe-haven asset firmly establish gold as one of India's most actively traded commodities. Market Dynamics and Price Influencers: Cultural and Festival Demand: Indian festivals and wedding seasons consistently drive significant gold demand, notably influencing local prices. Global Economic Conditions: During economic uncertainty, geopolitical tensions, or inflationary pressures, investors flock to gold as a store of value, pushing prices higher. Conversely, a strong global economy and rising interest rates (making fixed-income assets more appealing) can exert downward pressure. During economic uncertainty, geopolitical tensions, or inflationary pressures, investors flock to gold as a store of value, pushing prices higher. Conversely, a strong global economy and rising interest rates (making fixed-income assets more appealing) can exert downward pressure. Central Bank Monetary Policies: Interest rate decisions by major central banks (such as the US Federal Reserve) significantly impact gold prices. Higher interest rates increase the opportunity cost of holding non-yielding assets like gold. US Dollar Strength: Gold is predominantly priced in US dollars. A stronger dollar makes gold more expensive for holders of other currencies, potentially dampening demand and vice versa. Inflation Expectations: Gold is widely regarded as a hedge against inflation. When inflation rises, a currency's purchasing power declines, prompting investors to seek refuge in assets like gold, which tend to retain their value. Gold is widely regarded as a hedge against inflation. When inflation rises, a currency's purchasing power declines, prompting investors to seek refuge in assets like gold, which tend to retain their value. Supply and Demand Fundamentals: Global mining output, recycling activities, and demand from jewelry manufacturers and industrial applications all influence price discovery. Global mining output, recycling activities, and demand from jewelry manufacturers and industrial applications all influence price discovery. Appeal for Traders: Gold's consistent liquidity, sensitivity to global macroeconomic factors, and traditional safe-haven appeal make it a popular choice for short-term speculative trading and long-term hedging against economic instability. 2. Crude Oil: The Global Economy's Energy Powerhouse Crude oil, often dubbed "black gold," is the lifeblood of the global economy. As a primary energy source for transportation, industrial production, and electricity generation, its price fluctuations have far-reaching implications. As a major oil importer, India is particularly sensitive to global crude oil price movements, making it an extremely active commodity for trading. Market Dynamics and Price Influencers: Global Supply and Demand Balance: The fundamental principle of supply and demand dictates crude oil prices. Economic growth fuels demand, while production levels from major oil-producing nations (OPEC+, US shale producers, Russia) directly influence supply. The fundamental principle of supply and demand dictates crude oil prices. Economic growth fuels demand, while production levels from major oil-producing nations (OPEC+, US shale producers, Russia) directly influence supply. Geopolitical Tensions: Conflicts and instability in key oil-producing regions (e.g., the Middle East) can disrupt supply chains and trigger significant price spikes. Conflicts and instability in key oil-producing regions (e.g., the Middle East) can disrupt supply chains and trigger significant price spikes. OPEC Decisions: The Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) play a pivotal role in managing global oil supply through production quotas, directly impacting prices. The Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) play a pivotal role in managing global oil supply through production quotas, directly impacting prices. Key Economic Indicators: Industrial production data, manufacturing output, and global GDP growth forecasts all impact the outlook for crude oil demand. Industrial production data, manufacturing output, and global GDP growth forecasts all impact the outlook for crude oil demand. Currency Exchange Rates: The INR to USD exchange rate is a crucial factor for India. A weaker rupee makes imported oil more expensive in terms of local currency. The INR to USD exchange rate is a crucial factor for India. A weaker rupee makes imported oil more expensive in terms of local currency. Technological Advancements: Developments in extraction methods (like fracking) can increase supply, while advancements in renewable energy sources can influence long-term demand trends. Trading Avenues in India: Appeal for Traders: Crude oil's high volatility and sensitivity to a wide array of global events provide ample opportunities for speculative traders. Its direct impact on inflation and economic growth makes it a crucial commodity for macro-focused traders. 3. Silver: The Dynamic Industrial Precious Metal While often in the shadow of gold, silver firmly holds its own as both a precious metal and an industrial commodity. Its dual nature makes its price dynamics fascinating and frequently more volatile than gold. In India, silver is extensively used in jewelry, silverware, and various industrial applications, making it a prominent commodity in the trading landscape. Market Dynamics and Price Influencers: Industrial Demand: A substantial portion of silver's demand originates from industrial applications, including electronics, solar panels, the automotive industry, and medical devices. This makes its price highly sensitive to global industrial growth and technological advancements. A substantial portion of silver's demand originates from industrial applications, including electronics, solar panels, the automotive industry, and medical devices. This makes its price highly sensitive to global industrial growth and technological advancements. Investment Demand: Like gold, silver also functions as a safe-haven asset, attracting investment during economic uncertainty and inflationary pressures. Like gold, silver also functions as a safe-haven asset, attracting investment during economic uncertainty and inflationary pressures. Correlation with Gold Prices: Silver often moves in tandem with gold, though typically with higher volatility due to its smaller market size and significant industrial demand component. Silver often moves in tandem with gold, though typically with higher volatility due to its smaller market size and significant industrial demand component. Mining Output: Most silver is produced as a byproduct of mining other metals (such as lead, zinc, copper, and gold), making its supply somewhat inelastic to direct silver price changes. Most silver is produced as a byproduct of mining other metals (such as lead, zinc, copper, and gold), making its supply somewhat inelastic to direct silver price changes. Currency Fluctuations: Similar to gold, a stronger US dollar can make silver more expensive for international buyers, potentially impacting demand. Similar to gold, a stronger US dollar can make silver more expensive for international buyers, potentially impacting demand. Appeal for Traders: Silver's compelling combination of industrial utility and precious metal status makes it an attractive asset. Its higher volatility than gold can lead to larger profit opportunities, albeit with increased risk. 4. Natural Gas: The Evolving Transition Fuel Natural gas is an increasingly vital global energy source for electricity generation, industrial processes, and residential heating. Its clean-burning properties position it as a key transition fuel in the worldwide shift towards renewable energy. In India, growing domestic consumption and increasing industrial reliance on natural gas contribute significantly to its active trading on commodity exchanges. Market Dynamics and Price Influencers: Seasonal Demand: Natural gas prices are highly influenced by seasonal weather patterns, with demand typically peaking during colder winter months (for heating) and hotter summer months (for air conditioning, impacting electricity generation). Natural gas prices are highly influenced by seasonal weather patterns, with demand typically peaking during colder winter months (for heating) and hotter summer months (for air conditioning, impacting electricity generation). Supply Levels: Production levels from major gas-producing regions (e.g., US, Russia, Qatar), storage levels, and infrastructure developments (pipelines, LNG terminals) significantly impact supply. Production levels from major gas-producing regions (e.g., US, Russia, Qatar), storage levels, and infrastructure developments (pipelines, LNG terminals) significantly impact supply. Geopolitical Events: Disruptions to pipeline flows or political tensions involving major gas suppliers can cause significant price volatility. Disruptions to pipeline flows or political tensions involving major gas suppliers can cause significant price volatility. Inventory Reports: Weekly inventory reports from major consumer nations (like the US) provide crucial insights into supply-demand balances and often trigger short-term price movements. Weekly inventory reports from major consumer nations (like the US) provide crucial insights into supply-demand balances and often trigger short-term price movements. Competition from Other Fuels: The price of natural gas can be influenced by the competitiveness of other energy sources, such as coal and crude oil. The price of natural gas can be influenced by the competitiveness of other energy sources, such as coal and crude oil. Appeal for Traders: Natural gas offers substantial price volatility, particularly due to seasonal demand and geopolitical factors. This creates frequent trading opportunities for those who can accurately assess market sentiment and supply-demand dynamics. 5. Copper: "Dr. Copper" - The Economic Barometer Copper, often affectionately dubbed "Dr. Copper" due to its uncanny ability to predict economic health, is a critical industrial metal. Its widespread use in electrical wiring, construction, manufacturing, and emerging green technologies (electric vehicles, renewable energy infrastructure) makes its demand a strong indicator of global economic activity. India's accelerating infrastructure development and manufacturing growth contribute to the active trading of copper. Market Dynamics and Price Influencers: Global Economic Growth: Copper demand is a fundamental building block of modern economies, and it directly correlates with global GDP growth, industrial output, and construction activity. Copper demand is a fundamental building block of modern economies, and it directly correlates with global GDP growth, industrial output, and construction activity. Infrastructure Spending: Government and private sector investments in infrastructure projects (roads, railways, power grids) drive significant copper demand. Government and private sector investments in infrastructure projects (roads, railways, power grids) drive significant copper demand. Urbanization and Industrialization: Rapid urbanization and industrialization in developing economies, particularly China (the most significant consumer), are major drivers of copper demand. Rapid urbanization and industrialization in developing economies, particularly China (the most significant consumer), are major drivers of copper demand. Green Energy Transition: The increasing adoption of electric vehicles, solar power, and wind energy, which are highly copper-intensive, represents a significant long-term demand driver. The increasing adoption of electric vehicles, solar power, and wind energy, which are highly copper-intensive, represents a significant long-term demand driver. Supply Disruptions: Mining disruptions due to labor strikes, natural disasters, or geopolitical issues in major producing countries (e.g., Chile, Peru) can impact supply and prices. Mining disruptions due to labor strikes, natural disasters, or geopolitical issues in major producing countries (e.g., Chile, Peru) can impact supply and prices. Inventory Levels: Global inventory levels of copper in warehouses provide crucial insights into the immediate supply-demand balance. Global inventory levels of copper in warehouses provide crucial insights into the immediate supply-demand balance. Appeal for Traders: Copper's strong correlation with global economic health makes it an attractive commodity for traders seeking to capitalize on broad economic trends. Its integral role in the green energy transition also provides a compelling long-term outlook for potential price appreciation. Conclusion: Navigating India's Vibrant Commodity Market The Indian commodity market offers a wealth of opportunities for astute traders and investors. Gold, Crude Oil, Silver, Natural Gas, and Copper consistently stand out as the most active commodities, each possessing unique drivers and trading characteristics. Futures contracts on established exchanges like MCX and NCDEX provide regulated and highly liquid avenues for participation, offering transparency and robust trading infrastructure. Thorough research, robust risk management strategies, and a comprehensive awareness of domestic and international market dynamics are essential for success in India's dynamic commodity trading arena.


Economic Times
39 minutes ago
- Economic Times
RBI buyback sees strong demand with bids doubling notified amount
The Reserve Bank of India (RBI) received bids Rs 53,031 crore against the notified amount of Rs 26,000 crore at the second buyback auction of this fiscal year. At the auction held on Thursday, the central bank accepted 99% of the notified amount. ADVERTISEMENT At the first buyback held last week, the RBI received bids worth Rs 27,256 crore, of which the central bank accepted Rs 23,856 crore or 95% of the notified amount, data showed. Buybacks are a way for the government to pay off debt for next fiscal year to reduce its gross borrowing. It also results in RBI infusing durable liquidity into the system. The RBI bought back five government bonds maturing in 2026 at Thursday's auction. The 5.63% 2026 government bond saw the highest demand with bids received at Rs 26,616 crore. Of this, the central bank accepted Rs17,402 crore. 'The strong demand at the buyback auction indicates that banks may have taken this opportunity to lighten their HTM book, especially because there are no OMOs on the horizon,' said Rajeev Pawar, head of treasury at Ujjivan Small Finance Bank. 'In a buyback, banks get to sell short-term bonds and replace them with longer maturity papers and lock-in yields. Further buyback auctions will depend on how the government spending pans out and on evolving liquidity conditions.' ADVERTISEMENT Bonds maturing in FY27 are more than double versus this year at Rs 6.48 lakh crore and are consistently high until 2032. The government has also budgeted Rs 2.5 lakh crore for bond switches this year, 60% more than the previous a bond switch, the government replaces bonds maturing in the near term with long-term debt. The RBI, on behalf of the government, is scheduled to conduct an auction on Monday to switch government securities worth Rs 25,000 crore. It will conduct the auction to switch nine government bonds maturing between 2026 and 2029 for papers with maturity between 2032 and 2062. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)