RITES emerges lowest bidder for Railway Project in Bangladesh

RITES led consortium will engage in Construction of Dual Guage Railway Line from Bogura to Shahid M. Mansur Ali station of Bangladesh Railway’.

Apr 16, 2021 04:04 IST India Infoline News Service

RITES
RITES Limited led consortium emerged as the lowest bidder during the competitive bidding process by Bangladesh Railways for ‘Construction of Dual Guage Railway Line from Bogura to Shahid M. Mansur Ali station of Bangladesh Railway’.

“This is an 80 KM long greenfield project and it has two phases: 1) Preparation of DPR and 2) Construction supervision. Duration is 13 months for Phase — 1 and 30 months for Phase - 2. The project is funded by Exim Bank of India under LOC.

Total Fee Income would be about Rs63cr and signing of Contract is expected to take place soon,” company said in a regulatory filing on Friday.

Rites Ltd trade on Friday ended at Rs238 per piece down by Rs0.6 or 0.25% from its previous closing of Rs238.60 per piece on the BSE.

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