RVNL receives LoA worth Rs 650 cr from Maharashtra Metro Rail; shares fall 4%

The company received Letter of Acceptance (LOA) from Maharashtra Metro Rail Corporation Limited (MMRCL) for design and construction of elevated metro viaduct of length 6.92 km between Ch. (-) 657.182 m to Ch. (-) 7576.78 m in Reach 2A of NMRP Phase2.

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Rail Vikas Nigam Limited (RVNL) share price shed 4 percent in the early trade on October 9 despite the company receiving the Letter of Acceptance (LOA) from the Maharashtra Metro Rail Corporation Limited (MMRCL) for the design and construction of an elevated metro viaduct of length 6.92 km between Ch. (-) 657.182 m to Ch. (-) 7576.78 m in Reach 2A of NMRP Phase2.

The project cost is Rs 394.89 crore and will be completed in 30 months.

Also, the company received LOA for projects of Maharashtra Metro Rail Corporation including i) six elevated metro stations Viz. Pili Nadi to Lekha Nagar in Reach-2A, ii) one elevated and one at-grade station viz. Ecopark and Metro City in Reach-IA respectively.

iii) At-Grade Section Formation earthwork, boundary wall, and retaining wall iv) Elevated Metro track supporting structure for Eco Park Metro station between and v) Multi-Storied Building at Tulsi School Land (at Sitabuldi) of NMRP Phase-2.

The total cost of the above projects is Rs 256.19 crore and will be completed in 30 months.

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Last week, the company emerged as the lowest bidder for the project worth Rs 444,26,24,392 for the development of distribution infrastructure at North Zone of Himachal Pradesh under the revamped reforms-based and results-linked, distribution sector scheme (Loss Reduction Works). The said order is to be executed in 24 months.