RITES Ltd., a leading transport consultancy and engineering firm, has won a significant order worth approximately ₹100 crore. The company received a Letter of Award (LOA) from Adani Ports & SEZ Limited (APSEZ) to provide Railway Operation & Maintenance Services at the Dhamra Port Company Ltd. The detailed Letter of Intent (LOI) will be issued in due course with mutually agreed rates and relevant terms.
Key Highlights of the Order:
- Nature of Services: Railway Operation & Maintenance.
- Awarded by: Adani Ports & SEZ Limited (APSEZ), a domestic entity.
- Duration: The contract will span 5 years, starting from November 1, 2024.
- Order Value: Approximately ₹100 crore plus GST.
The announcement was made as per regulatory requirements, and further details of the agreement are expected to be finalized soon. Despite the positive news, RITES shares were trading 0.67% lower at ₹363.00 on the NSE as of 1:57 PM.
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