Business Update6 Jul 2026, 10:20 pm
RITES Secures USD 35.8M International Order for Locomotives
AI Summary
RITES Ltd has announced securing a significant international order from Volantis Asset Finance (Pty) Ltd., South Africa. The order is for the supply and commissioning of 4000 HP Cape Gauge Diesel Electric Locomotives. The contract value is USD 35,820,000 and is expected to be executed within 20 months. A formal contract agreement will be signed after due diligence. This marks a notable business development for RITES in the international market.
Key Highlights
- RITES secures international order for 4000 HP locomotives.
- Order value stands at USD 35,820,000.
- Execution timeline is set for 20 months.
- Order placed by South African entity Volantis Asset Finance.
- This is a significant business development for RITES.
Price Impact
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