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RVNL emerges the lowest bidder for three orders worth millions in a single day
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The total contract value is said to be worth $7.15 million. RVNL has a 49% stake in the Joint Venture.
State-run Rail Vikas Nigam Ltd., has emerged as the lowest (L1) bidder for three orders, one of which is in a Joint Venture with Salasar Techno Engineering Ltd., it said in an exchange filing.
The first contract is for design, supply, erection, testing and commissioning for upgradation of electric traction system from 1×25 KV to 2×25 KV traction system for Kharagpur-Bhadrak section of the South Eastern Railway to meet the 3,000 MT loading target.
This contract, which needs to be completed within 18 months, is worth ₹148.26 crore.
RVNL has also emerged as the lowest bidder for a Northeast Frontier Railway project worth ₹95.95 crore. The project involves engineering, procurement, construction of design, supply, erection, testing and commissioning of 25 kV and 50 Hz, single phase, AC, electrification OHE and TSS works of Araria – Thakurganj new line section in the NF railway.
This project needs to be completed in the next 240 days.
Additionally, the company, in a Joint Venture with Salasar Techno Engineering emerged as the lowest bidder for an Energy Development Corporation Ltd. project for plant design, supply and installation of 45.8 km, 110Kv double circuit Rukarara-Huye-Gisagara Transmission Lines.
The total contract value is said to be worth $7.15 million. RVNL has a 49% stake in the Joint Venture.
Shares of RVNL ended Thursday’s trading session down 1.5% at ₹252.2. The stock has been among the best performers of financial year 2024, with gains of 276%, but has corrected 27% from its recent peak of ₹345.
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