Shares of Rail Vikas Nigam Limited (RVNL) were in focus on Monday, December 29, after the company informed exchanges that it has emerged as the lowest bidder (L1) for a major railway infrastructure project from East Coast Railway.
In a regulatory filing, RVNL said it has been declared L1 for the “Setting up of Wagon POH (Periodic Overhaul) Workshop of 200 wagons capacity at Kantabanji”, marking another significant addition to its order book. The project has been awarded in the normal course of business, the company clarified.
Project value and execution timeline
According to details shared in Annexure-A of the filing, the project cost excluding GST stands at Rs 201.23 crore. The work is to be completed within a period of 18 months from the date of award.
The contract has been awarded by East Coast Railway, a domestic entity, and RVNL has been selected as the sole bidder for the project.
Key contract details at a glance
The filing confirmed that the order does not fall under related-party transactions, and neither the promoter nor promoter group companies have any interest in the awarding entity. The nature of the contract is a works tender, focused on strengthening railway maintenance infrastructure.
Market context
RVNL continues to secure steady project wins across railway infrastructure, including workshops, track works, electrification and station development, supporting its robust execution pipeline.
The latest order reinforces RVNL’s positioning as a key PSU player in India’s railway expansion and modernisation programme.
