RVNL gets project contract worth Rs 203 crore from South Eastern Railway

Prameyanews English

Published By : Prameya News Bureau | July 09, 2024 IST

RVNL

New Delhi, July 9: Public sector enterprise Rail Vikas Nigam on Tuesday said it has emerged as the lowest bidder for the design, supply, erection, testing, and commissioning of certain power systems on Kharagpur-Bhadrak section of the Kharagpur division of South Eastern Railway.

The contract is for a 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on the Kharagpur-Bhadrak section of the Kharagpur division, the company informed stock exchanges in a filing.

The contract, costing about Rs 203 crore, would be realized in 18 months. Separately, the Delhi Metro Rail Corporation (DMRC) and Rail Vikas Nigam Limited (RVNL) signed a Memorandum of Understanding (MoU) this month to collaborate and jointly work as a Project Service Provider for Design, Construction and Consultancy Projects in India and abroad. Last month, the Rail Vikas Nigam Limited (RVNL) won a contract worth Rs 191.53 crore from the South Eastern Railway.

Early last month, the state-owned company received a Letter of Acceptance from Eastern Railway for the construction of the by-pass line in Sitarampur under its Asansol Division for Rs 391 crore. RVNL, under the Ministry of Railways, was granted 'Navratna' status last year.

The Navratna companies have the autonomy to invest up to Rs 1,000 crore without seeking approval from the central government. Rail Vikas Nigam Limited was incorporated as a PSU on January 24, 2003, with the objective of implementing projects relating to the creation and augmentation of capacities of rail infrastructure.

The company was granted Mini-Ratna status in September 2013. Rail Vikas Nigam's shares have risen around 200 per cent in 2024. Over the past 12 months, they rose around 350 per cent. Today, they closed 3.7 per cent lower at Rs 545 per share.

 (ANI)

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