Rail Vikas Nigam Limited has entered into an MoU with Tata Steel Limited for infrastructure projects of TSL as Deposit works or through Special Purpose Vehicle Route. Sh Rajesh Prasad, Director, Operations, RVNL and Sh. Avneesh Gupta VP (TQM/Engineering & Projects), TSL signed the MoU in New Delhi on 04.10.2021.
- Rail Vikas Nigam Limited is a Category-I Mini-Ratna CPSE under the Ministry of Railways.
- It undertakes the execution of rail infrastructure projects of all types from concept to commissioning: raising non-budgetary resources by forming project-specific SPVS.
- The company has achieved several milestones, including completion of many projects like new lines, doubling, gauge conversion, and electrification.
- In addition, it also builds workshops, bridges, institutional buildings, and metro lines.
- Meanwhile, RVNL has bagged the Dun & Bradstreet’s “India’s Top PSUs 2021” Award as the best performer in the category of Contract, Construction & Consultancy Services.
- Sh. Rajesh Prasad, Director, Operations receiving the recognition on behalf of RVNL
- RVNL has also received eminent PSU recognition from Dun & Bradstreetfor the Best Growth Performance Award for Contract, Construction & Technical Consulting & the Best Mini Ratna in Services in the earlier years.
About Tata Steel Limited:
- Tata Steel was established in India as Asia’s first integrated private steel company in 1907.
- With this, they also developed India’s first industrial city at Jamshedpur.
- Today, they are among the leading global steel companies.
- Their annual crude steel capacity across Indian operations is nearly 20 MnTPA and we registered a turnover of INR 91,037 crore in FY21.
- They also set up our second greenfield steel plant of 3 MnTPA in the eastern state of Odisha in 2016; the expansion to 8 MnTPA is currently underway.
- They possess and operate captive mines that help us maintain cost- competitiveness and production efficiencies through an uninterrupted supply of raw material.
- This is how Tata Steel ensures that they remain the lowest cost producer of steel in Asia.
- The Indian product portfolio is divided into four segments – Automotive and Special Products; Industrial Products, Projects and Exports; Branded Products and Retail; and Services and Solutions.
- The Company supplies hot-rolled, cold-rolled, galvanised, branded solution offerings and more.
- 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 authorized 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