RITES secures export order worth USD 82.63 mn
Shalini | Myequity news | Date : 29-07-2018 23:30:00 IST
RITES Limited,a multi-disciplinary consultancy organization in the fields of transport, infrastructure and related technologies, has secured an export contract for Broad Gauge passenger air conditioned and non air conditioned coaches for a total value of USD 82.63 million. These coaches are to be exported within 27 months of opening of Letter of Credit. Company is confident of completing the export within the prescribed timeline. These coaches will be manufactured at production unit of lndian Railways, and the Company is nominated agency for such exports.About RITES Ltd:
RITES Limited(earlier known as Rail India Technical and Economic Service) is an engineering consultancy company, specializing in the field of transport infrastructure. Established in 1974 by the Government of India, the company's initial charter was to provide consultancy services in rail transport management to operators in India and abroad. RITES has since diversified into planning and consulting services for other infrastructure, including airports, ports, highways and urban planning. On-shore WDS6 Diesel Loco Leasing service has been introduced. It was awarded the status of MINIRATNA in 2002.
RITES Ltd closed 15.89% up at Rs 258.55