RITES secures two major contracts from African and Indian Railways
Published on 01/07/2025 11:11 PM
RITES secures two major contracts from African and Indian RailwaysThe company received a purchase order from African Rail Company for the supply and commissioning of two fully overhauled Cape Gauge ALCO diesel-electric locomotives. Shares of RITES Ltd ended at ₹279.20, down by ₹0.80, or 0.29%, on the BSE.By Jomy Jos Pullokaran July 1, 2025, 11:11:44 PM IST (Published)2 Min ReadEngineering firm, RITES Ltd, on Tuesday (July 1) announced two contract wins, one from an international entity and another through a domestic joint venture.
The company received a purchase order from African Rail Company for the supply and commissioning of two fully overhauled Cape Gauge ALCO diesel-electric locomotives.
These locomotives, which will be deployed in Zimbabwe, Mozambique, and Botswana, are fitted with new Cape Gauge Bogies, Traction Motors, Control Systems, and Air Brake systems.
Also Read: RITES wins construction supervision order worth $2.9 million from Guyana
The overhauled units will be supported with warranty services and technical team deployment from RITES. The order is valued at $3.6 million (CIF) and is expected to be executed within nine months.
Separately, the RITES-Aryan joint venture has secured a Letter of Acceptance from South Western Railway for the redevelopment of Tumakuru Station.
The scope includes civil works, signal and telecommunication systems, and electrical general services under an engineering, procurement and construction agreement. The contract is to be completed within 540 days from the appointed date, and RITES’ share in the order stands at ₹37.81 crore, excluding GST.
Also Read: RITES bags ₹29 crore contract from Gujarat Urban Development Company
Last month, RITES said it had received a Letter of Intent (LoI) from Gujarat Urban Development Company Limited (GUDC) for a project valued at ₹28.5 crore (exclusive of GST).
The contract involves the appointment of RITES as the Third Party Inspection (TPI) agency for water supply systems (WSS), underground drainage (UGD), and sewage treatment plant (STP) projects under the AMRUT 2.0 and SJMMSVY schemes in urban local bodies (ULBs) across Gujarat.
Shares of RITES Ltd ended at ₹279.20, down by ₹0.80, or 0.29%, on the BSE.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsRITESshare market today