Deals18 Feb 2025, 11:03 pm
Rail Vikas Nigam Ltd Receives LOA from Rail Infrastructure Development Company (Karnataka) Limited for INR 554 Crore Project
AI Summary
Rail Vikas Nigam Ltd (RVNL) has received a Letter of Acceptance (LOA) from Rail Infrastructure Development Company (Karnataka) Limited (K-RIDE) for a project worth INR 554,46,65,625 (excluding GST). The project involves the construction of nine stations, including civil, structural, entry/exit structures, steel FOB, roof structures, PEB works, architectural finishes, and E&M works for the Bengaluru Suburban Rail Project (Corridor-4A). The project is a domestic contract, to be executed in 24 months. RVNL holds 51% of the shares, while Rithwik Projects Pvt. Ltd. holds 49% in this joint venture.
Key Highlights
- RVNL received a Letter of Acceptance from K-RIDE for a INR 554 Crore project.
- The project involves the construction of nine stations for the Bengaluru Suburban Rail Project (Corridor-4A).
- RVNL holds 51% and Rithwik Projects Pvt. Ltd. holds 49% of the shares in this joint venture.
- The project is a domestic contract, to be executed in 24 months.
- The project includes civil, structural, entry/exit structures, steel FOB, roof structures, PEB works, architectural finishes, and E&M works.