RVNL JV is awarded contract for manufacturing of Vande Bharat Trainsets

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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

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