Deals18 Mar 2025, 03:11 am
RITES Ltd Receives Addendum to Contract Agreement from Ntokoto Rail Holdings Pty. Ltd. for Overhauled Diesel Electric Locomotives
AI Summary
RITES Ltd has received an addendum to the Contract Agreement from Ntokoto Rail Holdings Pty. Ltd. for the supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives fitted with new Cape Gauge Bogies, Traction Motors, Control System Air braked, etc. The order is worth 10.80 Million USD (CIF), double the initial value of 5.40 Million USD (CIF). The time period for execution is 6 months from the date of receipt of the order.
Key Highlights
- RITES Ltd receives addendum to Contract Agreement from Ntokoto Rail Holdings Pty. Ltd.
- Order for supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives.
- Value of order revised from 5.40 Million USD (CIF) to 10.80 Million USD (CIF).
- Execution time for the order is 6 months from the date of receipt.
- Not a Related Party Transaction