Rail Vikas Nigam Limited (RVNL) and Kerala Rail Development Corporation Limited (KRDCL) Joint Venture (JV) have emerged as the Lowest Bidder (L1) for the “Major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala.”
More Details:
- M/s RVNL–KRDCL JV emerges as the Lowest Bidder (L1) for “Major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala.”
- The estimated cost of the project is Rs. 123,36,58,386.82/-
- M/s RVNL has 49% while M/s KRDCL has 51% share in this contract.
- Time period by which the order is to be executed is: 30 Months.
About RVNL:
The company became operational in 2005 with the appointment of a Board of Directors. The company was granted Miniratna status in September 2013 and has achieved an “Excellent” rating for 9 consecutive years from the Department of Public Enterprises.
Ranking 1st among Railway PSEs four times in the last 5 years, RVNL’s turnover for the fiscal year 2019-20 increased by 44.44%.
The authorised share capital of the company is Rs. 3000 crores, with a paid-up share capital of Rs. 2085 crores. The company has been listed post its disinvestment of a 12.16% stake through IPO.
Source: RVNL- Press Release | Image Credit (representational): MoR
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