RITES Limited announced on Friday that it has secured a significant rate contract from NTPC Limited for leasing diesel locomotives across NTPC’s power plants nationwide.
According to the company’s filing, the contract will be valid for two years, from September 20, 2025, to September 19, 2027. The indicative value of the agreement stands at ₹78.65 crore (excluding GST), though the final value will depend on the actual requirements of individual NTPC stations. Orders will be placed separately by NTPC during the validity of the contract, specifying the scope, timelines, and payment terms.
RITES confirmed that this contract does not fall under related party transactions, and neither the promoter nor group companies have any interest in NTPC regarding this award.
The deal strengthens RITES’ footprint in the leasing and rail infrastructure solutions space, aligning with its expertise in providing locomotives and engineering consultancy services for public sector clients.
