Rail Vikas Nigam Limited (RVNL) has been declared the lowest bidder for a massive contract from South Central Railway.

What Happened: RVNL, on Monday evening, announced its selection as the lowest bidder for an Engineering, Procurement and Construction (EPC) contract from South Central Railway. The contract pertains to the doubling of the track between Parbhani to Parli stations in Maharashtra, excluding the Gangakhed yard, and includes associated electrification and signalling works.

The contract, valued at ₹625.08 crore (including GST), is slated for completion within 30 months.

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This development is the latest in a series of contracts that RVNL has secured. Earlier in October, RVNL was declared the lowest bidder for a major contract from East Central Railway. The contract involved the design, supply, erection, testing, and commissioning of traction sub-stations for the upgradation of the electric traction system in the Gomoh-Patratu section of Dhanbad Division of East Central Railway.

Subsequently, RVNL bagged a letter of acceptance for a ₹283.69 crore order from East Coast Railway. The project included the construction of the 3rd and 4th lines between Jarapada & Talcher Road and a new line between Angul-Balram.

Furthermore, RVNL has also expanded its global footprint by establishing a wholly-owned subsidiary in Saudi Arabia, marking its entry into the Middle Eastern market.

Price Action: RVNL’s share price closed 5.26% lower at ₹446.20 on Monday.

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