RVNL emerges lowest bidder for manufacturing of 200 Vande Bharat Trainsets

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Rail Vikas Nigam Limited (RVNL) emerges as lowest bidder for Manufacturing cum Maintenance of Vande Bharat Trainsets including Upgradation of the Government Manufacturing Units & Trainset Depots.

More Details:

  • In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, it is hereby informed that “Rail Vikas Nigam Limited (RVNL) emerges as the Lowest Bidder (L1) for “Manufacturing cum Maintenance of Vande Bharat Trainsets including Up-gradation of the Government Manufacturing Units & Trainset Depots” in JV with following JV Partners:

Mentioned below are JV Partners:

  • M/s Joint Stock Company Metrowagonmash-70%
  • M/s Joint Stock Company Locomotive Electronic System-5%
  • Rail Vikas Nigam Limited-25%
  • As per financial opening dated 01.03.2023, the M/s JSC Metrowagonmash-Mytischi-RVNL (JV) has been declared L-1.
  • The total quantity is 200 Trainsets and cost per set is Rs. 120 Crores.

About RVNL:

  • The company began its operation in 2005 with the appointment of a Board of Directors.
  • The company was granted Miniratna status in September 2013.
  • RVNL has been rated “Excellent” for the 9 successive years by the Department of Public Enterprises.
  • RVNL has also been ranked 1st amongst the Railway PSEs for the 4 times out of the last 5 years.
  • The turnover of the company for the financial year 2019-20 has increased by 44.44%.
  • The authorised share capital of the company is Rs. 3000 cr. with paid up share capital of Rs. 2085 cr.
  • The company has been listed after its disinvestment of its stake of 12.16% of the company through IPO.

Source: RVNL- Press Release | Image Credit (representational): Southern Railway

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