RITES bags ₹175 crore project management consultancy order from Ambedkar University

Infrastructure, consultancy, and engineering firm RITES Ltd, on Tuesday (June 30), said it has secured a ₹175.41 crore project management consultancy (PMC) contract from Babasaheb Bhimrao Ambedkar University (BBAU) for infrastructure development works on its campus.The order covers planning, design and development of infrastructural facilities and other related works at the university on a cost-plus PMC fee basis. The total project cost is approximately ₹175.41 crore, excluding GST, including RITES’ fees.

RITES said the contract has been awarded by a domestic entity and will be executed over 30 months from the date of signing of the agreement or until completion of the allotted work, whichever is later.
ALSO READ | RITES secures $20.6 million international order for diesel electric locomotivesThe company added that neither its promoter nor promoter group companies have any interest in the entity awarding the contract. The order also does not qualify as a related-party transaction.

RITES Ltd said it had signed a Memorandum of Understanding (MoU) with state-run Container Corporation of India Ltd to collaborate on Project Management Consultancy (PMC) services for logistics infrastructure development.

The collaboration will cover concept-to-commissioning consultancy for development and improvement of CONCOR terminals and establishments. The partnership will leverage RITES’ multidisciplinary engineering and project management expertise to support the planning, design, execution and supervision of infrastructure projects undertaken for CONCOR.ALSO READ | RITES receives revised estimates for key railway electrification project at ₹729 crore

“Under the MoU, CONCOR may entrust RITES, on a work-to-work basis, with Project Management Consultancy services from concept to commissioning. These services will include feasibility studies, preparation of Detailed Project Reports, detailed engineering, architectural and structural design, project supervision, quality assurance, and construction management, etc,” according to a stock exchange filing.

The collaboration will support the development and improvement of infrastructure, including multimodal logistics parks, inland container depots, rail-linked terminals, warehouses, railway infrastructure, administrative buildings, roads, utilities and allied facilities.

“Through this partnership, both RITES and CONCOR aim to leverage their respective strengths to facilitate the timely execution of logistics infrastructure projects and contribute to the development of efficient multimodal logistics facilities in the country,” it added.

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Shares of RITES Limited ended at ₹204.85, down by ₹1.10, or 0.53%, on the BSE.