Tech major Siemens has bagged an order worth Rs 263 crore from Rail Vikas Nigam (RVNL) in Uttarakhand. Under the scope of the project, Siemens will set up the rail electrification technologies for the PSU’s Rishikesh-Karnaprayag rail line project.
Siemens-RVNL: Project details
Siemens in its press release said that as part of the project, RVNL will also set up rigid overhead catenary systems (ROCS) and flexible overhead catenary systems (FOCS) across tunnels, open routes, yards and related infrastructure over a track which extends approximately 102.5 kilometres.
The tech firm added that the Uttarakhand order is expected to enhance all-weather connectivity, provide support for regional-economic development, and advance mobility for residents and tourists. Additionally, the contract is expected to help provide a more reliable mode of transportation during weather fluctuations.
“The Rishikesh–Karnaprayag rail line forms part of the strategically important Char Dham connectivity corridor and is one of Indian Railways’ key infrastructure projects in the Himalayan region,” Siemens said in its filing.
Siemens-RVNL: Management commentary
Commenting on the development, Rajeev Joisar, Chief Executive Officer, Mobility Business, Siemens, said, “We are proud to partner with Rail Vikas Nigam Limited for this prestigious project in Uttarakhand. The Rishikesh–Karnaprayag corridor represents a significant step towards enhancing sustainable and reliable connectivity in one of India’s most challenging terrains.”
He added that the contract win further strengthens Siemen’s position in the rail electrification technologies and enhances the company’s successful track record of delivering rigid overhead catenary systems for railway projects across the country.
“Through innovative and energy-efficient technologies, we remain committed to supporting India’s vision for modern, sustainable transportation infrastructure,” Joisar said.
Siemens-RVNL share price
RVNL’s stock ended Monday’s trade flat on NSE at Rs 231.54. Over the past one month the company’s share price has declined by more than 4%, while over the past six months it has fallen by nearly 31%.
Siemens share price also ended flat on NSE at Rs 3,477.80. Over the past one month its stock has declined by 4%, while over the past six months it has delivered a return of more than 15%.
