RITES secures 2 major orders worth Rs 749.67 crore from Railways Ministry
New Delhi: RITES Limited, a government-owned transport infrastructure consultancy and engineering company, on Monday said that has secured two major order worth Rs 749.67 crore from the Ministry of Railways. The RITES emerged as the lowest bidder for a tender called by the Railway Board, Ministry of Railways for railway electrification work on a turnkey basis, the Railways PSU informed stock exchanges in a regulatory filing on Monday.
According to the company, the first project is for the electrification work between Mysore – Hassan – Mangalore worth Rs 461.23 crore and the second project is between Lumding Badarpur worth Rs 288.44 crore.
Further, in a separate filing to the stock exchanges on the same day, RITES informed that has bagged a major order worth Rs 45 crore for additional work of consultancy services from Metro Express Limited, Mauritius. "Metro Express Limited, Mauritius has awarded additional work of consultancy services (PMC) for extension of the mainline from Rose Hill to Reduit through Ebene for an additional fee of MUR 250 million (Rs 45 crores approx.)," RITES said in a separate filing to the stock exchanges.
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 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).