Rail Vikas Nigam Limited (RVNL) has been awarded a contract from Ministry of Railways for “Manufacturing cum Maintenance of Vande Bharat Trainsets including upgradation of the government manufacturing units & trainset depots.”
More Details:
Details of the contract awarded are as under:
- The Letter of Award has been received from Ministry of Railways for “Manufacturing cum Maintenance of Vande Bharat Trainsets including Upgradation of the Government Manufacturing Units & Trainset Depots.”
- Time period by which the order(s)/contract(s) is to be executed is 82 Months.
- The cost per set is Rs. 120 Crores.
Mentioned below are JV Partners:
- M/s Joint Stock Company Metrowagonmash- 70%
- Rail Vikas Nigam Limited- 25%
- M/s Joint Stock Company Locomotive Electronic System- 5%
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 crore.
- 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): Central Railway
