The saw pipe maker said the company and SULA Shipping and Logistics Private Limited has signed the memorandum of understanding for restructuring of transhipment business of Jindal ITF, a wholly owned subsidiary.
Work on the dedicated freight lines should be accelerated to avoid congestion on the operative routes, says Indresh Batra, Chairman, Jindal ITF.
Jindal Saw, a flagship company of OP Jindal Group, has reported a net profit of Rs 125 crore in third quarter of FY11 as against Rs 168 crore in same quarter of FY10. Net sales too slipped to Rs 1,063 crore from Rs 1,371 crore during same period.