New Delhi: RITES has announced the acquisition of a significant contract valued at $5.4 million (approximately Rs 45 crore) from Ntokoto Rail Holdings. The agreement involves supplying and commissioning overhauled ALCO diesel-electric locomotives equipped with new cape gauge bogies, traction motors, and advanced control systems. The project is expected to be completed within six months and includes a one-year warranty for on-site support.
Following this announcement, RITES' share price remained stable. The company has been active in securing international contracts this month, having previously landed a $4.28 million (around Rs 35.8 crore) deal with Tsiko Africa Logistics on October 1. This earlier contract entails the supply and commissioning of overhauled cape gauge diesel-electric locomotives, also accompanied by a one-year warranty.
In addition to these orders, RITES has entered into a memorandum of understanding with the Delhi Metro Rail Corporation (DMRC) to offer consultancy services, project management, and feasibility studies. This collaboration aims to enhance the urban transit system and aligns with RITES' initiative, "RITES Videsh," which seeks to broaden its global operations.
BI Bureau
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