New Delhi: RITES Limited, a leading infrastructure consultancy firm, on Tuesday said that it has secured a significant international contract from the Ministry of Public Works, Co-operative Republic of Guyana. The contract entails construction supervision for the extension of East Bank-East Coast Road Project Phase 2 (Eccles to Providence), along with additional work under an existing assignment.
This information has been shared by the Railway PSU in a regulotry filing to the stock exchnages on Tuesday.
As per the company, the project will span 18 months of construction supervision, followed by a 12-month defects liability period. The total contract value stands at approximately USD 2.9 million (excluding taxes) (Aprox. Rs 24.82 crore). This project win marks yet another milestone for RITES in expanding its global footprint in infrastructure development.
The project, awarded by an international entity, reinforces RITES' expertise in overseeing complex construction operations. Notably, the company confirmed that no promoter or group company holds any interest in the entity awarding the contract. Furthermore, the transaction does not qualify as a related party transaction, ensuring an arm’s length agreement.
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