Rail Vikas Nigam Limited (RVNL) has been awarded a significant contract by National Mineral Development Corporation (NMDC) Limited, valued at ₹95.27 crore, for refurbishment projects in Chhattisgarh.
The contract involves the refurbishment of the Permanent Way of NMDC Sidings and Mobile Equipment Tracks, including maintenance at Kirandul and Bacheli in Chhattisgarh. The project is expected to be completed within a 36-month timeframe. The contract, awarded by a domestic entity, includes general contract conditions and is part of RVNL’s regular business activities.
The company has confirmed that there is no interest from the promoter group or related parties in the awarding entity, ensuring the transaction does not fall under related party transactions. The contract value includes an 18% GST component.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).