Rail Vikas Nigam Limited (RVNL) has signed a memorandum of understanding (MoU) with Delhi Metro Rail Corporation Limited (DMRC) to collaborate on future projects both in India and overseas.

What Happened: The official document, released on Thursday, July 4, stated that RVNL will be working with DMRC on forthcoming projects. RVNL will act as a project service provider for metro, railways, high-speed rail, highways, mega-bridges, tunnels, institutional buildings, workshops or depots, S&T works and railway electrification, both at home and abroad.

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This partnership comes on the heels of RVNL’s recent achievements. On July 2, RVNL announced that it had been declared the lowest bidder for an order from Central Railways, bagging a ₹132 crore contract for overhead equipment modification work in the Wardha-Ballarshah section of the Nagpur division of Central Railway.

RVNL is on track to complete the construction of two key piers near the Metropolitan crossing on the EM Bypass of Kolkata Metro's New Garia-Airport route by August. The company has received approval from the Kolkata Traffic Police for the construction, and a traffic block has been put in place for 90 days to facilitate smooth construction and traffic flow.

Price Action: RVNL’s share price was up 0.43% to close at ₹418.75 on Thursday.

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