RITES and Damodar Valley Corporation (DVC) have inked a Memorandum of Understanding (MoU) to jointly manage the maintenance and operational aspects of railway sidings, signalling, and telecommunication systems across DVC’s private railway network.

What Happened: On Friday, RITES, a prominent transport infrastructure consultancy, announced its alliance with Damodar Valley Corporation (DVC), a statutory body under the Ministry of Power. This collaboration is aimed at enhancing rail infrastructure works in West Bengal and Jharkhand.

The partnership will concentrate on the comprehensive maintenance and operational management of railway sidings, signalling and telecommunication (S&T) systems, and 25KV Overhead Electrification (OHE) isolators across DVC's private railway network.

See Also: LIC Refutes Reports Of Planned Foray Into Health Insurance

Why It Matters: This collaboration comes on the heels of RITES’ recent partnerships aimed at enhancing railway infrastructure. On June 11, RITES signed a MoU with Eastern Railway's Andal Diesel Shed to cooperate on major schedule repair and maintenance of Diesel-Electric Locomotives, leading to a sharp increase in RITES’ share price on June 12.

Moreover, on June 13, RITES entered into another MoU with Delhi Metro Rail Corporation (DMRC) to explore consultancy and operations & management (O&M) of Metro Rail Systems.

Price Action: RITES' share price was up 3.80% to close at ₹705.20 Thursday.

Read Next: RVNL Bags ₹160 Cr Order From East Coast Railways