Rail Vikas Nigam Limited (RVNL) has entered into a Memorandum of Understanding (MoU) with Engineers India. The partnership is aimed at identifying and bidding for infrastructure projects on a global scale.
What Happened: RVNL announced the signing of the MoU with Engineers India on Thursday evening. The collaboration is designed to harness the expertise of both organisations to identify market needs and establish a working relationship targeting specific industry requirements.
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The partnership will also aid in the development of business proposals, including exploring engineering procurement construction opportunities with various government, semi-government, autonomous bodies, authorities/private entities, and multilateral funding agencies worldwide.
This collaboration comes on the heels of RVNL’s recent success in reportedly securing contracts for the Nagpur Metro Phase-2 project. The orders are worth over ₹800 crore. Earlier in August, the company announced bagging a ₹203 crore order from South Eastern Railways.
Price Action: RVNL’s share price was down 0.82% to close at ₹521.85 on Thursday.
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