RVNL JV bags contract for Eastern Railway project worth Rs 837.67 crore

Rail Vikas Nigam Limited (RVNL) said its joint venture with SCPL has emerged as the lowest bidder for an Eastern Railway project worth Rs 837.67 crore.

The contract involves earthwork in cutting and filling, blanketing, construction of minor bridges, major bridges, RUB, ROB, retaining wall, level crossing, side drain, catch water drain, and ancillary works at a section between Kalipahari and Pradhankhuta in connection with construction of multi-tracking railway BG line, the company said.

The contract is to be completed in 36 months. As per the JV, RVNL is the lead member holding a 74% stake, while SCPL is the other member holding a 26% stake.

RVNL shares were trading 1.59% higher at Rs 453.3 per share on Tuesday, November 5. The stock has gained 148.76% this year, so far.

 

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