RITES Win Order Worth ₹69.78 Crore From SAIL

RITES Ltd, formerly known as Rail India Technical and Economic Service Limited, is an Indian public sector undertaking and engineering consultancy corporation specialising in transport infrastructure.

Key Contract Secured with SAIL

RITES Ltd. has been awarded a ₹69.78 crore contract by SAIL’s Bhilai Steel Plant. The project involves the repair of 43 WDS6 locomotives under the R3Y/R6Y Repair scheme, to be completed over three years. This strategic win underscores RITES’ expertise in delivering engineering solutions to heavy industries and is expected to bolster its position in the railway sector.

Collaboration with IRFC

In another significant development, RITES’ subsidiary, REMC, has entered into a MoU with the Indian Railway Finance Corporation (IRFC). The collaboration aims to explore financing options for power projects serving Indian Railways. The MoU focuses on joint opportunities in transaction advisory, project management services, and consultancy for financing power projects under the captive model.

By leveraging their combined expertise, REMC and IRFC aim to enhance project execution efficiency, optimise resource utilisation, and strengthen the power supply system for Indian Railways, while supporting India’s renewable energy ambitions.

International Growth For RITES 

RITES is also expanding its global footprint. The company has recently received a Notification of Intention to Award from the Ministry of Public Works, Government of Guyana. This $9.71 million project underscores RITES’ growing presence in international markets and its capability to secure high-value overseas contracts.

Share Price Performance

RITES Ltd.’s share price rose by 1% to ₹296.00 per share on the NSE. During intraday trading, the share reached a high of ₹304.90, reflecting strong investor interest in the company.

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