RVNL emerges lowest bidder for project worth Rs 444.26 crore; shares up marginally

The said order is to be executed in 24 months.

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Rail Vikas Nigam (RVNL) share price was up marginally after the company emerged as the lowest bidder for the project worth Rs 444,26,24,392.

At 09:22 am, Rail Vikas Nigam was quoting at Rs 172.65, up Rs 0.30, or 0.17 percent on the BSE.

The project is for 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.

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In September the company had emerged as the lowest bidder for Himachal Pradesh State Electricity Board’s power distribution infrastructure development project worth Rs 1,098 crore.

The project pertains to development of distribution infrastructure in the south zone of Himachal Pradesh under the ‘Revamped Reforms based and Results-linked, Distribution Sector Scheme’. The scheme is intended for loss reduction works and is expected to be completed in 24 months.

Also, company’s joint venture emerged as the lowest bidder for a railway project worth Rs 174 crore.

RVNL-MPCC JV has emerged as the Lowest Bidder (L1) for all civil engineering works (earthwork, blanketing, construction of station buildings etc) and complete track works, including gauge conversion work between Petlad – Bhadran (22.50 kms) of Vadodara Division of Western Railway.

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