New Delhi: RITES Limited, a government-owned transport infrastructure consultancy and engineering company, said on Friday that it has emerged as the lowest bidder for a railway project in Bangladesh. "RITES-led consortium emerged as the lowest bidder during the competitive bidding process by Bangladesh Railways for 'Construction of Dual Guage Railway Line from Bogura to Shahid M Mansur Ali station of Bangladesh Railway," the Railways PSU said in a regulatory filing to the stock exchanges.
According to RITES Limited, it is an 80-km-long greenfield project of Bangladesh Railways. It has two phases: Preparation of DPR and construction supervision. The duration for project implementation is 43 months out of 13 months for phase 1 and 30 months for phase 2. The project is funded by Exim Bank of India under a line of credit.
Total fee income would be about Rs 63 crore and the signing of the contract is expected to take place soon.
RITES Limited is a Miniratna PSU under the Ministry of Railways. It is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company has an experience spanning 46 years and has undertaken projects in over 55 countries, including Asia, Africa, Latin America, South America and Middle East regions. RITES Limited is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram & Twitter as well. Join PSU Watch Channel in your Telegram and follow us on Twitter to stay updated)