RITES Limited emerged as the lowest bidder in 2 tenders from CFM, Mozambique for Supply of Ten (10) Nos. of Locomotives and Three Hundred (300) Wagons.
More Details:
- Pursuant to Regulation 30 read with para B of part A of schedule-III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, and SEBI Circular no. CIR/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, that RITES is the lowest bidder in the tenders for procurement of locomotives and wagons invited by CFM, Mozambique.
- The order is subject to award after the due process of CFM, Mozambique’s scrutiny/evaluation as per the requisite requirements mentioned in the tender documents. The estimated value of the bid is approximately Rs. 500 Crore. And the order contains Supply of Ten (10) Nos. of Locomotives and Three Hundred (300) wagons.
About RITES Limited:
- RITES Limited, a Government of India Enterprise was established in 1974, under the aegis of Indian Railways.
- RITES is incorporated in India as a Public Limited Company under the Companies Act, 1956 and is governed by a Board of Directors which includes persons of eminence from various sectors of engineering and management.
- RITES Ltd., an ISO 9001:2015 company, is a multi-disciplinary consultancy organisation in the fields of transport, infrastructure and related technologies.
- It provides a comprehensive array of services under a single roof and believes in transfer of technology to client organisations.
- In overseas projects, RITES actively pursues and develops cooperative links with local consultants/firms, as means of maximum utilisation of local resources and as an effective instrument of sharing its expertise.
Source: RITES- Press Release | Image Credit (representational): BLW
