RVNL’s order book reaches ₹65,000 Crore mark; targets foreign projects

19 Feb 2024 , 12:23 PM

According to RVNL, its order book has reached ₹65,000 Crore, with railway projects accounting for 50% of the total. RVNL is also searching for new projects in offshore markets such as Central Asia, the United Arab Emirates, and Western Asia, according to management during an investor call.

Responding to a query, top management officials stated, ‘We currently possess an order book totaling approximately ₹65,000 Crore. This comprises roughly 50% from nominations, representing typical railway projects, and the remaining 50% from the market. Looking ahead, our aim is to sustain an order book of approximately ₹75,000 Crore.’

The Vande Bharat trains accounted for around ₹9,000 Crore of the whole order book, with ₹7,000 Crore allocated to multiple metro projects. The corporation has also secured projects in electricity and transmission lines, among others.

RVNL is also growing into other industries and planning several projects in international nations, according to sources.

Regarding development intentions in offshore markets, management stated that the business recently engaged in a Public-Private Partnership (PPP) model project in Botswana and has been shortlisted. Offices are being established in several other neighbouring foreign nations.

‘We have been actively exploring opportunities in Central Asia, the UAE, and Western Asia alongside our operations in the UAE. As a result, we anticipate achieving a profit that aligns with our performance in other sectors.’

“We have entered into a Memorandum of Understanding (MoU) for four projects in Kyrgyzstan. The detailed project report (DPR) for the Balekechi and Kara catch line has been submitted. A company named Kyrgyzindustry RVNL Close Joint Stock Company has been established for this purpose,’ they mentioned.

Rail Vikas Nigam Ltd (RVNL), operating under the Ministry of Railways, is engaged in the development, funding, and execution of projects associated with railway infrastructure.

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