RVNL Secures Contract for Rs. 808 Crore NH-53 Upgradation Project in Odisha

10 Jul 2023 , 11:32 AM

Rail Vikas Nigam Limited (RVNL) has successfully secured the position of the Lowest Bidder (L1) for the upgradation project of the Chandikhole-Paradip section of NH-53 (Old NH-5A) in Odisha. The project aims to rehabilitate and upgrade the existing 4-lane highway to an 8-lane stretch. 

The National Highways Authority of India (NHAI) has awarded the contract for this project to RVNL. The project aims to rehabilitate and upgrade the mentioned section of the highway in Odisha. The project will be executed within 24 months and carries a substantial cost of Rs. 808 crores.

In the past six months, RVNL’s shares witnessed a growth of 68.88%, while over the past year, the stock skyrocketed by 293%.

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