RVNL secures Rs 543 crore project from MP Metro Rail

12 Dec 2023 , 10:35 AM

On Monday, the state-owned Rail Vikas Nigam Ltd (RVNL) said that it has received a Rs 543 crore order from the Madhya Pradesh Metro Rail Corporation. The Indore Metro Rail Project will benefit from the installation of elevated stations.

The RVNL-URC JV has emerged as the lowest bidder (L1) for part design and construction of an elevated viaduct and five elevated metro rail stations for the Indore Metro Rail Project, the PSU stated in a BSE filing.

The company is expected to execute the project in a period of 1,092 days.

RVNL, a public sector undertaking, undertakes and executes project development, financing, and implementation of rail infrastructure projects, mobilises financial and human resources for project implementation, and ensures timely project execution with minimal cost escalation, among other things.

At around 10.23 AM, RVNL was trading 0.98% higher at Rs 180.10, against the previous close of Rs 178.35 on NSE. The counter touched an intraday high and low of Rs 185.60 and Rs 179.15, respectively.

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