Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to its intimation dated June 28, 2021 regarding the major order secured for Railway Electrification work for the project ?Mysuru?Hassan?Mangaluru including Hassan?Arsikere,? RITES Limited informed that RITES has received revised estimates from South Western Railway for the Railway Electrification work of Mysuru?Hassan?Mangaluru including Hassan?Arsikere on a cost-plus turnkey basis. The revised project cost is INR 7,292.8 Million excluding GST (including RITES fees).
The transaction is between a government entity and a government company, and the order relates to the execution of railway electrification work for the specified route under the cost-plus turnkey model.
RITES Limited is an India-based engineering and consultancy company providing a range of services and solutions in all areas of transport and infrastructure development. The Company is engaged in design engineering, project management consultancy, turnkey construction, export of rolling stock, locomotive leasing, and quality assurance, serving sectors, including railways, highways, metros, bridges and tunnels, sustainability and green mobility, airports, land ports, ropeways, urban planning and infrastructure, ports and harbors, and institutional buildings. Its segments include consultancy services, leasing of railway rolling stock and equipment, export of rolling stock, equipment, and spares, turnkey construction projects, and power generation. Its subsidiaries include RITES (Afrika) (Pty) Limited, which is engaged in design and project consultancy services and REMC Limited, which develops business opportunities in the power sector, green energy, power trading, and other fields.
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Investor
Investor
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Global
Global
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Quality
Quality
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ESG MSCI
ESG MSCI
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