RVNL Secures ₹837 Crore Eastern Railway Contract with SCPL Partnership

6 Nov 2024 , 11:03 PM

Rail Vikas Nigam Limited (RVNL), in a joint venture with SCPL, has won the lowest bid for an Eastern Railway project valued at ₹837.67 Crore.

This contract covers extensive work on the Kalipahari-Pradhankhuta section for constructing a multi-tracking railway BG line.

At the time of closing on November 6, 2024 shares of Rail Vikas Nigam Limited (RVNL) closed at ₹469 which is a 4.18% gain than the previous close. Rail Vikas Nigam Limited (RVNL) has gained a total of 204% in the last one year, and 158% gain since the beginning of the year.

Key project components include earthwork, cutting, filling, blanketing, and construction of both minor and major bridges, retaining walls, road under-bridges (RUB), road over-bridges (ROB), level crossings, side drains, and catch water drains.

The project timeline is set for completion within 36 months, with an active execution period of 30 months.

RVNL holds a 74% share in the joint venture, positioning it as the lead member, while SCPL holds a 26% stake. Additionally, RVNL emerged as the lowest bidder on November 4 for an engineering, procurement, and construction (EPC) contract from South Central Railway, valued at ₹625.08 Crore in Maharashtra.

The South Central Railway project involves doubling the railway track between Parbhani and Parli stations, incorporating electrification and signaling upgrades. These projects strengthen RVNL’s portfolio in critical infrastructure, particularly in multi-tracking, electrification, and railway expansion.