RVNL receives LoA from MP Power Transmission Co. Ltd

State-owned railway PSU RVNL [Rail Vikas Nigam Limited has received a Letter of Award from the state board Madhya Pradesh Power Transmission Company Limited.

As per official company filings submitted to BSE website it is stated that under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that RVNL-SALASAR JV has received Letter of Award (LoA) from Madhya Pradesh Power Transmission Co. Ltd. for “Construction of 132 kV & 220 kV Transmission Lines and associated Feeder Bays on total Turnkey basis in Eastern MP”.

The Nature of the contract consists construction of 132kV & 220kV Transmission Lines and associated Feeder Bays on a total Turnkey basis in Eastern MP.

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The Period of the completion of the contract is 18 months. The total cost of the project is Rs 1.73 crore, including GST. The contribution percentage of the  RVNL is 51% and that of Salasar Techno Engineering Limited is 49%. The shares of RVNL were trading in green during the last session with a close at Rs 243.80, up by 9.52%. The PSU stock has been recovering better since the last session.

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