Key Points of Rail Vikas Nigam New Order Won in Gujarat:
- RVNL, a state-owned company, has won a project worth Rs 252 crore in Gujarat.
- RVNL has formed a joint venture with Rachana Construction Company for this project.
- The Rachana-RVNL joint venture will upgrade the Sarkhej-Changodar section of NH-8A for the Ahmedabad-Bagodara-Rajkot Road to six lanes with paved shoulder.
- The project will be executed in engineering, procurement, and construction (EPC) mode in Gujarat.
- This week, RVNL formed a joint venture with Jakson Green for clean energy EPC projects globally.
- RVNL emerged as the lowest bidder for a National Highways Authority of India (NHAI) project worth Rs 1,272 crore earlier this month.
- On March 23, 2023, RVNL shares closed at Rs 64.70 apiece, down over 1.3%, when the market closed.
Details of Rail Vikas Nigam New Order Won in Gujarat:
RVNL Wins Rs 252 Crore Project in Gujarat in Joint Venture with Rachana Construction Company
Rail Vikas Nigam Limited (RVNL), a state-owned company, announced on Thursday that it has been awarded a project worth Rs 252 crore in Gujarat. RVNL has formed a joint venture with Rachana Construction Company, with the latter owning a 60% share and RVNL owning a 40% share of the project.
As per the contract terms, the Rachana-RVNL joint venture will upgrade the Sarkhej-Changodar section of NH-8A (new NH-47) for the Ahmedabad-Bagodara-Rajkot Road to six lanes with paved shoulder on an engineering, procurement, and construction (EPC) mode in Gujarat, the company said in an exchange filing.
This week, RVNL formed a joint venture with Jakson Green for clean energy EPC projects globally. Earlier this month, RVNL emerged as the lowest bidder for a National Highways Authority of India (NHAI) project worth Rs 1,272 crore and also emerged as L1 for a project worth Rs 1,088.49 crore during the same period.
On March 23, 2023, RVNL shares closed at Rs 64.70 apiece, down over 1.3%, when the market closed.
About Rail Vikas Nigam:
Rail Vikas Nigam was Incorporated in 2003 by the Govt. of India, it is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
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