Rites and IIT-M sign MoU to explore marine infrastructure works

17 Feb 2022 , 04:27 PM

RITES Limited has entered into a memorandum of understanding (MoU) with the Indian Institute of Technology, Madras (IIT-M) to cooperate and explore marine infrastructure works.

Under this arrangement, RITES and IIT-M will collaborate for providing engineering consultancy (design & construction supervision), enhancing technical cooperation and knowledge sharing for the development of marine infrastructure works, including navigational studies etc.

The partnership intends to bring in best practices by leveraging each other’s expertise in marine engineering works and addressing environmental (oceanic) concerns to build a sustainable and robust infrastructure.

On BSE, Rites stock closed at Rs254.10 per piece down by 1.1%. The stock has touched an intraday high and low of Rs259.10 per piece and Rs254.10 per piece.