Rail Vikas Nigam Limited (RVNL) has secured a key railway construction project from East Coast Railway. The company was declared the lowest bidder for this order earlier this month.

What Happened: RVNL announced on Wednesday evening that it has been awarded a letter of acceptance by East Coast Railway. The project includes the construction of the 3rd and 4th lines between Jarapada & Talcher Road and a new line between Angul-Balram.

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The project's total cost is estimated to be ₹283.69 crore and is expected to be completed within two years.

This follows RVNL’s recent win of a metro construction contract from Maharashtra Metro Rail Corporation Limited. RVNL emerged as the lowest bidder for a project involving the construction of seven elevated metro stations in Reach 3A and three in Reach 4A of the Nagpur Metro Rail Phase-2 project.

The latest project win from East Coast Railway further strengthens RVNL’s position in the railway construction sector and is likely to boost its revenue growth in the coming quarters.

Price Action: RVNL’s share price was up 6.03% to close at ₹465.35 on Wednesday.

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