Rail Vikas Nigam Wins Big Contracts and Signs MoU with Delhi Metro

Rail Vikas Nigam Limited (RVNL) has emerged as the lowest bidder for a major project involving the design, supply, erection, testing, and commissioning of power systems on the Kharagpur-Bhadrak section of South Eastern Railway. The contract, valued at Rs 203 crore, will be completed in 18 months.

Additionally, RVNL has signed a Memorandum of Understanding (MoU) with the Delhi Metro Rail Corporation (DMRC) to collaborate on design, construction, and consultancy projects both in India and abroad.

Last month, RVNL won a Rs 191.53 crore contract from South Eastern Railway and a Rs 391 crore contract from Eastern Railway for the construction of a by-pass line in Sitarampur under its Asansol Division.

RVNL, a public sector enterprise under the Ministry of Railways, was granted ‘Navratna’ status last year, allowing it to invest up to Rs 1,000 crore without central government approval. The company was incorporated on January 24, 2003, and received Mini-Ratna status in September 2013.

RVNL’s shares have risen around 200 per cent in 2024 and approximately 350 per cent over the past 12 months. Today, they closed 3.7 per cent lower at Rs 545 per share.