Rail Vikas Nigam has secured a Rs 405 crore project from East Coast Railway for the development of roadbed, bridges, and related work. The project will be executed for a third railway line between Khurda Road and Gangadharpur.
The domestic contract will be executed within thirty months. RVNL announced this contract on Thursday, after market hours.
RVNL: East Coast Railway: Project details
RVNL emerged as the lowest bidder for the East Coast Railway project, which stands at a consideration size of Rs 404.88 crore, inclusive of GST. It is a domestic project that will be executed within thirty months, the PSU said in its exchange filing.
Under the scope of work, RVNL will carry out the execution of roadbed, minor and major bridges, building works, supply of ballast, permanent way linking, and other related works associated with the project. This also includes the shifting of signaling & telecommunication and electrification works of the East Coast Railway project.
The contract will be executed between Khurda Road and Gangadharpur in connection with the execution of work of the third Line between Nergundi-Barang and Khurda Road-Vizianagaram on the Bhadrak-Vizianagaram Section.
RVNL share price
Its stock ended Thursday’s trade flat on the exchanges. Over the past one month, its share price has declined by 10%, while over the past six months, its stock has fallen by around 28%. Over the past one year, its share price has decreased by 37%.
About RVNL
The company is the Indian central government’s public sector undertaking, which operates under the Ministry of Railways. Its operations span executing railway infrastructure projects, railway electrification and signalling, development of metro rail projects, and more.