State-owned Rail Vikas Nigam Ltd (RVNL) on Monday (December 29) said it has emerged as the lowest bidder (L1) for a project awarded by East Coast Railway.
The project involves the setting up of a wagon periodical overhaul (POH) workshop with a capacity of 200 wagons at Kantabanji. East Coast Railway is the entity awarding the contract.
The total project cost, excluding goods and services tax, is ₹201,23 crore. The contract has been awarded to Rail Vikas Nigam as the sole bidder. The time period for completion of the project is 18 months.
Also Read: RVNL, RailTel, other railway stocks jump up to 12%, continue to trim losses for 2025
In December this year, Rail Vikas Nigam Ltd said it has received a letter of acceptance (LOA) from Southern Railway for a traction power project worth ₹145.35 crore, according to a stock exchange filing.
The contract covers the design, supply, erection, testing and commissioning of Scott-connected traction substations, power quality equipment, switching posts, a 2×25 kV feeding system, and SCADA and automatic fault locator systems in the Jolarpettai-Salem section of the Salem division.
The project is linked to Indian Railways’ Mission 3000 MT freight-loading target. RVNL said the work will be executed over 540 days and falls under its normal course of business.
The order was awarded by a domestic entity, and the company confirmed there is no promoter-group interest in Southern Railway and that the contract is not a related-party transaction. The letter of acceptance was issued under tender EPC-PSI-2X25kV-SR-05.
Also Read: RVNL appoints Saleem Ahmad as chairman & managing director
Shares of Rail Vikas Nigam Ltd ended at ₹366.90, down by ₹21.05, or 5.43%, on the BSE today, December 29.
