RITES Ltd has won two railway electrification orders, aggregating around Rs.750 crore, from Railway Board.
In a stock exchange filing, RITES Ltd said that the Railway Board, Ministry of Railways, has awarded two railway electrification contracts, aggregating Rs.749.67 crore.
The first contract, valued at Rs.461.23 crore, involves electrification of two stretches in Karnataka:
- Mysore-Hassan-Mangalore (including Hassan-Arsikere)
- Kadur-Chikmanglur
The second, worth Rs.288.44 crore relates to electrification works on the Lumding-Badarpur stretch in Assam.
The first contract falls under the purview of South Western Railway and the second comes under Northeast Frontier Railways, both divisions of Indian Railways.
Editor’s Note: On June 15, 2021, RITES had communicated to stock exchanges that it had emerged L1 in a tender called by the Railway Board, Ministry of Railways, for railway electrification works on turnkey basis.
The tender was for two packages —Package 1 of 779 rkm (South Western Railway) and Package 2 of 762 rkm (Northeast Frontier Railways). At that time, the tender amount was indicated to be Rs.1,741 core but no information on the names of the stretches were provided.
Though RITES has indicated in the latest stock exchange filing that contract win is a furtherance of the announcement of June 15, the reason for the difference in contract value cannot be ascertained at the moment.
