RITES has been awarded a significant contract valued at Rs 105.69 crore by the Research Designs and Standards Organisation (RDSO), Lucknow. The contract pertains to the comprehensive maintenance of a dedicated test track located between Gudha and Thathana Mithri stations in the Jodhpur division of the North Western Railway (NWR).
The contract, which is domestic in nature, is set to be executed over a period of 60 months from the date of issuance of the Letter of Acceptance (LOA). This project involves a comprehensive maintenance agreement, ensuring the upkeep and operational efficiency of the test track, which plays a crucial role in railway research and standards development.
The transaction is a government-to-government engagement, with no involvement of the promoter group or related party transactions. The agreement is executed at arm’s length, ensuring transparency and adherence to regulatory norms.
This development underscores RITES‘ continued commitment to enhancing railway infrastructure and its strategic role in supporting India’s railway sector through such substantial contracts.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).