RVNL, SCPL Joint Venture Bags Rs 838-Crore Order From Eastern Railway
The work will be undertaken over a period of 36 months.
The joint venture of Rail Vikas Nigam Ltd. and SCPL emerged as the lowest bidder for an Eastern Railway contract worth Rs 837.7 crore, according to an exchange filing on Tuesday.
The firm signed the contract for earthwork in cutting and filling, blanketing, construction of minor bridges, major bridges, road under bridge, road overbridge, retaining wall, level crossing and other ancillary works, it said.
The work will be undertaken over a period of 36 months. As the lead member of the JV, RVNL holds 74% stake while SCPL holds 26% stake.
Previous Orders
RVNL had secured a work order for Rs 270 crore for the construction of a metro project from the Maharashtra Metro Rail Corp. on Oct 16. The contract involves the construction of seven elevated metro stations to reach Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna
On Sept. 30, the public sector enterprise was the lowest bidder for a construction contract from East Central Railway.
On Sept. 11, the Navratna CPSU under the Ministry of Railways granted a Rs 71 crore project to BCPL Railway Infrastructure Ltd.
The contract was for the upgrade of the electric traction system in the Kharagpur-Bhadrak section of the Kharagpur division of South Eastern Railway.
The company also opened a Marathwada Rail Coach Factory in Latur on Sept. 5. The factory will be manufacturing 1,920 Vande Bharat sleeper coaches and maintain them for the next 35 years.
The share price of RVNL closed 1.08% higher at Rs 451.35 apiece on the NSE, compared to a 0.91% rise in the benchmark Nifty 50. The stock has risen 148.42% in the last 12 months and 192.86% on a year-to-date basis.
