Business Update25 Jun 2026, 05:40 pm
RITES Secures ₹148.93 Cr Order for Loco Hiring & O&M
AI Summary
RITES Ltd has announced an amendment to its MoU with Neyveli Uttar Pradesh Power Limited (NUPPL), enhancing the contract value to ₹148.93 Crores (excluding GST). The amended agreement includes comprehensive operation & maintenance of the NUPPL/GTPP Railway Siding and hiring of locomotives on a wet-lease basis for 48 months. This extension of the original MoU, entered on February 13, 2025, signifies a significant business expansion for RITES in providing integrated railway services. The contract is with a domestic entity and does not involve related party transactions.
Key Highlights
- RITES' contract with NUPPL enhanced to ₹148.93 Cr.
- Includes loco hiring and railway siding O&M for 48 months.
- Extension of original MoU signed on February 13, 2025.
- Contract is with a domestic government enterprise.
- No related party interest involved in the transaction.
Price Impact
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