RVNL incorporates Subsidiary Company in South Africa
This has been officially announced through a BSE filing, which signifies RVNL's ambition to leverage its expertise and experience in railway infrastructure development beyond Indian borders.
New Delhi: The Indian central public sector enterprise Rail Vikas Nigam Limited (RVNL), the construction arm of the Ministry of Railways has incorporated a Subsidiary Company in South Africa viz., "RVNL INFRA SOUTH AFRICA".
This has been officially announced through a BSE filing, which signifies RVNL's ambition to leverage its expertise and experience in railway infrastructure development beyond Indian borders.Read Also : BPCL Kochi Refinery emerge winners of NIPM Young Managers’ Contest 2024
What does this South African venture mean for RVNL?
Market expansion: Establishing a presence in South Africa opens up new opportunities for RVNL to participate in tenders and secure projects in a continent ripe with infrastructural demands. Africa's burgeoning economies require robust transportation networks, making it a fertile ground for RVNL's expertise.
Knowledge sharing: The South African subsidiary can act as a platform for knowledge exchange and technical collaboration. RVNL's best practices and technological advancements can be adapted and implemented in African projects, contributing to knowledge transfer and mutual benefit.
Brand building: By successfully venturing into the African market, RVNL strengthens its international reputation as a reliable and skilled railway infrastructure developer. This will not only enhance its competitive edge but also attract potential partnerships and collaborations.Read Also : NTPC Wins 23rd Inter CPSU Cricket Tournament
On the other hand company has emerged as the lowest bidder for the Jabalpur project at Rs 251 crore to supply, installation, testing and commissioning of 11 KV line-associated works. The project has been awarded by M.P. Madhya Kshetra Vidyut Vitaran Co Ltd and is expected to be completed in 24 months.
RVNL Shares on Focus:
The share price of RVNL ( Rail Vikas Nigam Limited) has surged to hit a 52-week high, gaining across 5 per cent, corresponding to being the lowest bidder of a power transmission project in Madhya Pradesh worth Rs 250 crore. The stock has opened today at a 2.02 per cent gain while crossing the edges at Rs 232, an inter-day high.
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