Infrastructure, consultancy, and engineering firm RITES Ltd on Tuesday (December 30) informed that it has received a letter of award for the supply of in-service cape gauge diesel electric locomotives from Berhard Development Corporation (Private) Ltd, Zimbabwe.
The contract is valued at $3,600,000 and is to be executed over a period of three months. The company clarified that the order has been awarded by an international entity and is not related to any promoter, promoter group, or group companies. The transaction does not fall under related party transactions and is entirely at arm’s length.
In December this year, RITES signed a memorandum of understanding (MoU) with the government of Botswana to collaborate on the development and modernisation of the country’s railway and transport infrastructure. The MoU was signed in Gurugram on December 19, 2025, with Botswana represented by its Ministry of Transport and Infrastructure.
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The exchange filing said the partnership aims to accelerate the growth of Botswana’s transport sector by leveraging advanced technologies, best practices, and capacity-building initiatives to enhance efficiency, safety, and reliability.
Under the agreement, Botswana will draw on RITES’ technical expertise for the development and modernisation of railway systems, including the supply of rolling stock, commissioning, repair, operation, and maintenance support, and the modernisation of railway workshops.
The collaboration will also extend to broader transport infrastructure projects covering railways, highways, bridges, airports and buildings, RITES said.
Shares of Rites Ltd ended at ₹237, down by ₹8.02, or 3.27%, on the BSE today, December 30.
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First Published: Dec 30, 2025 6:33 PM IS
