RITES Share Price in Focus; Secures $20.6 Million Locomotive Order from ICVL Mozambique

RITES has secured a significant international contract through a Letter of Intent from ICVL Mozambique for supply and maintenance of diesel electric locomotives, marking a key expansion in African markets. 

Major International Contract Details 

On January 27, 2026, RITES announced receipt of an order worth $20,602,500 from ICVL Mozambique for New Cape Gauge Diesel Electric Locomotives.  

The contract includes supply of locomotives within 15 months and preventive maintenance services including consumable spares for 24 months. This represents a substantial international project for the state-owned transport infrastructure consultancy. 

Contract Scope and Execution Timeline 

The order involves complete supply of diesel electric locomotives along with comprehensive maintenance services at site.  

The 15-month supply timeline and 24-month maintenance period indicate a long-term engagement requiring technical expertise and operational support in Mozambique's railway sector. 

No Related Party Involvement 

The contract awarded by ICVL Mozambique does not involve any promoter group or related party transactions. The entity is completely independent with no interests from RITES promoters or group companies, ensuring arm's length commercial dealings. 

Read More: LG Electronics India Secures ₹705.74 Crore Eligibility Certificate for Maharashtra Incentives! 

RITES Share Price Performance  

As of January 27, 2026, at 11:05 AM, RITES share price on NSE was trading at ₹218.70 up by 0.42% from the previous closing price. 

Conclusion 

RITES has secured a $20.6 million international contract from ICVL Mozambique for locomotive supply and maintenance services. The 15-month supply and 24-month maintenance order represents significant business expansion in African markets without any related party complications. 

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