RITES has secured an order from the Maharashtra government, it said in a press release on Thursday.
What Happened: The railway engineering firm has received a letter of intent from the Directorate of Medical Education & Research, Mumbai for the construction of a new government medical college.
Under the project, worth over ₹321 crore, a facility will be built in Amravati, Maharashtra that will have 430 beds and the capacity to train 100 students.
The contract has been awarded on a turnkey basis and will executed within a maximum of 90 months.
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RITES has been on an order-bagging spree in the past month.
The firm received a major contract from the government of Assam, earlier in July. The Public Works Roads Department of the Assam government had given the company a letter of acceptance for third-party monitoring and quality control for 47 roads, stretching for up to nearly 1000 kilometres, across the northeastern state.
In June, RITES signed major partnerships with firms like Damodar Valley Corporation and Delhi Metro Rail Corporation.
Price Action: Shares of RITES were down 0.88% at ₹685.80 on Thursday afternoon.
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