RITES, a leading player in transport infrastructure consultancy, has announced a strategic partnership with NBCC (India), a Central public sector enterprise (CPSE) under the Ministry of Housing Development.

What Happened: RITES and NBCC inked a Memorandum of Understanding (MoU) on Wednesday, the company said in a press release. The alliance is set to empower both organisations to explore and execute a broad spectrum of consultancy, fee-based projects, and engineering, procurement, and construction (EPC) contracts, from inception to commissioning, as per the press statement.

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The joint venture is intended to boost operational synergy between the entities across various sectors and innovative projects in the realm of urban energy, water management, urban transport and infrastructure and township development.

RITES is slated to offer consultancy and project management services, encompassing conceptualisation, planning, design, cost estimation, tender documentation, and other pre-construction activities, along with coordination forconstruction. On the other hand, NBCC will bring its expertise to the table for project implementation, including tendering, contract management, construction supervision, cost control, quality assurance, commissioning, and defect liability period.

Price Action: Shares of RITES were trading flat at ₹650.75 on Wednesday afternoon.

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