New Delhi: RITES Limited, a Navratna public sector enterprise under the Ministry of Railways, has secured a major international order worth USD 35.2 million (about Rs 292 crore) from Ndalama Capital (Pty) Ltd, South Africa, for the supply and commissioning of diesel electric locomotives.
In a regulatory filing to stock exchanges, RITES said it has received a Letter of Award for the supply and commissioning of in-service Cape Gauge ALCO diesel electric locomotives on a CIF basis in South Africa. The contract is to be executed over a period of 18 months.
The order has been awarded by an international entity and involves the supply as well as commissioning of the locomotives, further strengthening RITES’ presence in overseas railway and transport infrastructure markets. The company clarified that the transaction does not fall under related party transactions and that neither the promoter nor the promoter group has any interest in the awarding entity .
RITES has been steadily expanding its global footprint, leveraging its expertise in railways, consultancy and export of rolling stock. The latest order from South Africa is expected to further bolster its international order book and reinforce its position as a key Indian PSU executing railway projects across geographies.
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