RITES, MECL sign MoU for civil engineering infra works; Stock dips 2%

28 Mar 2022 , 09:40 AM

RITES Limited, a leading Transport Infrastructure Consultancy and Engineering company, and Mineral Exploration Corporation Limited (MECL) have entered into a memorandum of understanding (MoU) to jointly bid and execute works related to geotechnical investigations for civil engineering infrastructure projects.

Under this arrangement, RITES and MECL will collaborate for technical services, including consultancy assignments, knowledge sharing and research & development activities. The partnership intends to bring in best practices by leveraging each other’s geological/geophysical expertise in civil engineering and mining fields.

At around 9.44 am, Rites Ltd was trading at Rs258.50 apiece down by Rs6.3 or 2.38% from its previous closing of Rs264.80 apiece on the BSE.