RITES Emerges As Lowest Bidder For Bangladesh Railway Contract Valued At USD 111 Million

RITES Limited, the Indian multinational transport consultancy and engineering company, has emerged as the lowest bidder (L-1) in a competitive tender floated by Bangladesh Railway, the company on Thursday announced through an exchange filing.

This announcement comes in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, along with SEBI Circular no. CIR/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

The estimated order value for this project is an impressive USD 111,003,177 (One Hundred Eleven Million Three Thousand One Hundred Seventy Seven US Dollars).

Key Details of the Contract

The contract has been awarded by Bangladesh Railway.

Significant Terms and Conditions

The contract involves the procurement of 200 Broad Gauge (BG) Passenger Carriages for Bangladesh Railway.

Domestic/International Entity

This contract has been awarded by an international entity, Bangladesh Railway.

RITES Limited shares

The shares of RITES Limited on Thursday at 3:05 pm IST were at Rs 485.70, up by 1.32 percent.