New Delhi: PSU Navratna firm Rail Vikas Nigam Ltd (RVNL) on Monday said it has emerged as the lowest bidder (L1) for an engineering, procurement and construction (EPC) contract worth Rs 358.97 crore from East Central Railway for rail doubling works in Bihar.
According to the company’s regulatory filing, the project involves doubling works on the Kundawa Chainpur (excluding) to Raxaul (excluding) section, covering 41.04 km under the Sitamarhi-Raxaul rail line doubling project in the Samastipur Division of East Central Railway.
The scope of work includes earthwork, blanketing, construction of minor and major bridges, station buildings, platform works, level crossing (LC) works and other miscellaneous civil works designed for 25-tonne Indian Railway Standard Loading.
The total value of the project stands at Rs 358.97 crore, including Goods and Services Tax (GST), and is scheduled to be completed within 1,095 days.
The PSU company said the contract has been awarded by a domestic entity under the General Conditions of Contract.
It also clarified that neither its promoters nor promoter group entities have any interest in the awarding authority and that the transaction does not qualify as a related-party transaction.
Separately, RVNL recently signed a memorandum of understanding (MoU) with the Odisha government to collaborate on the development and implementation of infrastructure projects in the state.
Under the agreement, RVNL will identify and execute infrastructure projects on mutually agreed terms and act as the project executing agency for projects undertaken under the MoU.
Earlier in June, the company announced that it has secured a major infrastructure contract worth Rs 2,977 crore from state-owned mining company NMDC for the development of a buffer stockyard and blending facility at Visakhapatnam in Andhra Pradesh.
Shares of RVNL settled 0.74 per cent higher at Rs 227.10 on the NSE on Monday. The stock has touched a 52-week high of Rs 400.70 and a 52-week low of Rs 221.55 on the exchange.
(IANS)
