RITES Limited — New Orders, 07-12-2024: Bagging/Receiving of orders/contracts

RITES Limited has emerged as the top scorer (H-1 bidder) based on QCBS evaluation for the provision of engineering services to upgrade the Palmyra to Moleson Creek Highway, Lot 1-3, for the Government of Guyana's Ministry of Public Works. The expected value of the contract is approximately USD 9.71 crore, excluding taxes. This international contract is set to be executed over a total period of 60 months, which includes 36 months for pre-construction and construction, followed by a 24-month defect liability period. The impending Letter of Acceptance from the client is anticipated, marking a significant milestone in RITES' international engagement strategy. Investors should consider this development as a potential growth opportunity, given the scale and duration of the project.