State-owned Rail Vikas Nigam Ltd (RVNL) has won the bid for a significant project worth Rs 111.85 crore in Jabalpur. In an exchange filing, RVNL stated that it emerged as the lowest bidder for the supply, installation, testing, and commissioning of 11 KV line-associated works such as bifurcation, interconnection, line conductor augmentation, and others in the Singrauli, Sagar, Damoh, Chhatarpur, Panna, Tikamgarh Circles of MPPKVVCL, in the Jabalpur company area.
This announcement comes just a month after H.G. Infra Engineering was declared as the lowest bidder for a railway project by RVNL. RVNL’s order book is expected to be around Rs 75,000-1 lakh crore in FY24, with 20% of the total order book coming from market bidding, according to Rajesh Prasad of RVNL in an interview with CNBC-TV18.
In January, RVNL and its JV partners emerged as the lowest bidder for a railway project of 200 train sets, with a cost of Rs 120 crore per set. Despite this positive news, the stocks of RVNL closed at Rs 62 apiece, down over 1% when the market closed.
About RVNL:
Rail Vikas Nigam Limited (RVNL) is a public sector undertaking in India that serves as the construction arm of the Ministry of Railways. Its primary focus is on implementing railway projects and developing transportation infrastructure.
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