RITES Limited, a leading engineering consultancy company, has received an international contract from the Ministry of Public Works, Government of Guyana. The contract is valued at USD 9.71 million (USD 9,713,470/- excluding taxes), excluding taxes, and involves providing engineering services for upgrading the Palmyra to Moleson Creek Highway.
The contract covers the design, build, and finance aspects of the highway upgrade project, focusing on modernising the critical transport corridor to improve connectivity and infrastructure.
The project spans 60 months, divided into two phases:
This achievement highlights RITES’ global capabilities, as the contract was awarded by an international entity. It reinforces the company’s reputation for delivering high-quality engineering solutions across borders.
RITES confirmed that neither the promoter group nor related parties are involved in the transaction, ensuring transparency and compliance with regulatory norms.
As of 12:53 PM on January 01, 2025, the stock of RITES marked an intraday high of ₹301.70 on the NSE. However, it has come off from its day’s high and is currently trading flat.
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Published on: Jan 1, 2025, 2:07 PM IST
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