Deals27 Jan 2025, 11:28 pm
Oriental Rail Infrastructure Secures Rs 575 Crores Order from Indian Railways
AI Summary
Oriental Rail Infrastructure Ltd's wholly owned subsidiary, Oriental Foundry Private Limited, has secured an order worth Rs 575.22 Crores from Indian Railways for the manufacture and supply of 33 rakes of Flat Multi Purpose Wagons (FMP). The contract, which is subject to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, stipulates that 90% of the total cost will be received against the Inspection Certificate issued by the RDSO, and the balance 10% after receipt, inspection, and acceptance of the goods.
Key Highlights
- Oriental Foundry Private Limited secures order worth Rs 575.22 Crores from Indian Railways.
- Order is for the manufacture and supply of 33 rakes of Flat Multi Purpose Wagons (FMP).
- 90% of the total cost to be received against Inspection Certificate issued by the RDSO.
- Balance 10% to be received after receipt, inspection, and acceptance of the goods.
- Contract is subject to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.