RITES Ltd signs MoU with DP World for Logistics Infrastructure Development
RITES has entered into a transformative Memorandum of Understanding (MoU) with DP World to explore potential opportunities for collaboration in the development of trade, logistics, and infrastructure projects.
Railway PSU, RITES Ltd has announced that it has entered into a strategic MoU with DP World to collaborate in the field of trade, logistics and infrastructure projects.
We would like to inform you that RITES has entered into a transformative Memorandum of Understanding (MoU) with DP World to explore potential opportunities for collaboration in the development of trade, logistics, and infrastructure projects, the company stated in the filing.
The MoU aims to foster mutual collaboration by exploring joint opportunities in infrastructure development, including ports, multimodal logistics parks, free trade zones, rail connectivity projects, and logistics infrastructure services.
The MoU was signed in the esteemed presence of HH Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE; Shri Piyush Goyal, Hon’ble Minister of Commerce and Industry, Government of India.
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His Excellency Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World along with Mr. Rahul Mithal, Chairman & Managing Director of RITES Limited and other distinguished dignitaries at the CEO - Connect: Dubai-India Economic Ties & Opportunities in Mumbai, were also present.
The MoU will foster collaboration in the areas of infrastructure development and trade between India and UAE.
Shares of RITES are trading below 2 basis points at Rs 215.9, down by 0.9 pc.
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