RVNL Inks MoU With Tatweer, Wins Rs 187-Crore Nagpur Metro Contract
The company will use its expertise in railway sector, to develop joint capabilities in design and execution of various rail based work, an exchange filing said.
Rail Vikas Nigam Ltd. announced on Tuesday that the company signed a Memorandum of Understanding with Tatweer Middle East and Africa LLC for execution of rail-based work in the Middle East and North Africa region and European countries.
The company will use its expertise in railway sector to develop joint capabilities in design and execution of various rail based work, as per an exchange filing. It will also collaborate for supply, design, implementation and commissioning of smart city, digital transformation and professional engineering services.
The railway infrastructure builder also received Letter of Acceptance for project worth Rs 187 crore from Maharashtra Metro Rail Corp. for the construction of six elevated metro stations in Nagpur.
RVNL's shares surged over 9% on Tuesday to an all-time high following two large trades in pre-market hours. They erased gains to close 4% lower at Rs 543.15 per share, compared to a 0.49% advance in the Sensex.
