Rail Vikas Nigam Limited (RVNL) has received a Letter of Award from the Ministry of External Affairs for the ‘Preparation of Detailed Project Report (DPR)’ for a ‘Professional and Technical Education Centre’ in Seychelles. The contract is valued at ₹55,00,000 (Rupees Fifty-Five Lakhs Only), excluding taxes, and is to be executed within 6 months. This international project is within RVNL’s usual business activities and contributes to its growing portfolio.
New International Project Secured
Rail Vikas Nigam Limited (RVNL) has announced the receipt of a Letter of Award (LOA) from the Ministry of External Affairs. This significant development marks RVNL’s expansion into international projects with the contract for the ‘Preparation of Detailed Project Report (DPR)’. The project aims to establish a ‘Professional and Technical Education Centre’ (PTEC) in Seychelles.
Contract Details and Value
The contract’s broad consideration has been stated as INR 55,00,000/- (Rupees Fifty-Five Lakhs Only), with taxes to be excluded. The execution timeline for this project is set at a concise period of 6 Months from the award date. This international engagement is considered to be within the normal course of business for RVNL, indicating a strategic diversification of its service offerings and geographical reach.
Operational Alignment
The company has confirmed that this contract does not fall within related party transactions and is being conducted at arm’s length. This international project further strengthens RVNL’s standing as a key player in the infrastructure and project development sector, both domestically and abroad. The detailed project report will be crucial for the subsequent phases of setting up the educational centre in Seychelles.
Source: BSE
