RITES secures contract worth $111 million for supplying passenger carriages to Bangladesh Railway

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Transport infrastructure consultancy and engineering firm RITES Ltd on Monday (April 29) said it has received a Letter of Acceptance (LoA) from Bangladesh Railway.

“…we are pleased to inform you that RITES Limited has received a letter of acceptance from Bangladesh Railway in connection with the supply of 200 Broad Gauge (BG) Passenger Carriages to Bangladesh Railway,” according to a stock exchange filing.

The LoA pertains to the supply of 200 Broad Gauge (BG) Passenger Carriages to Bangladesh Railway, marking a landmark contract valued at $111.26 million. The stipulated execution period is 36 months, the company said.

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The contract encompasses the supply of passenger carriages along with essential documentation such as drawings, parts catalogues, capital and maintenance spares, overseas training, study tours, service engineers, de-processing, and commissioning.

Shares of RITES Ltd ended at ₹686.75, down by ₹8.10, or 1.17% on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow