RITES Limited — New Orders, 14-02-2025: Bagging/Receiving of orders/contracts

RITES has secured a significant order from NLC India Limited for the preparation of a Feasibility Study Report (FSR), Detailed Project Report (DPR), Detailed Engineering (DE), and Project Management as a turnkey depositary mode on a cost-plus-fees basis. This project involves the construction and commissioning of a railway siding at the Machhakata coal mine and the adjacent New Patrapara South coal mine. The order is estimated to be worth ₹466.55 Crores, excluding GST, with a completion timeline of 36 months from concept to commissioning. This contract represents a vital opportunity for RITES, enhancing its project management capabilities and expanding its footprint in the domestic coal mining sector. Investors should watch closely as this development could positively influence RITES' operational capacity and revenue growth trajectory.