Rail Vikas Nigam Limited (RVNL) has announced the receipt of a Letter of Award (LOA) valued at ₹284.52 Crore from the National Mineral Development Corporation (NMDC). This contract involves the construction of a Residential Tower in Kirandul, Chhattisgarh. The work is classified as being in the normal course of RVNL’s business operations. The project duration is set for 16 Months, and the contract involves a domestic entity.
Major Contract Awarded to RVNL
Rail Vikas Nigam Limited (RVNL) has officially informed the exchanges about securing a significant Letter of Award (LOA). The awarding entity is the National Mineral Development Corporation (NMDC), a domestic entity. This new business further diversifies RVNL’s project portfolio outside of core railway infrastructure.
Project Details and Value
The scope of the awarded work is the “Construction of Residential Tower in Kirandul, Chhattisgarh.”
- Broad Consideration (Project Cost): Rs. 284.52 Crore (Rupees Two Hundred Eighty Four Crore and Fifty Two Lakhs Only, inclusive of all taxes).
- Nature of Order: Construction of a Residential Tower.
- Execution Timeline: The project is required to be executed within a period of 16 Months from the date of award.
- Transaction Type: The terms and conditions align with General Contract Conditions.
Compliance Confirmation
RVNL confirmed that this contract does not fall within related party transactions, and consequently, no ‘arm’s length’ determination was necessary. Furthermore, the company confirmed that neither the promoter nor the promoter group holds any interest in the awarding entity, NMDC. The company Secretary & Compliance Officer, Kalpana Dubey, certified the disclosure on February 25, 2026.
Source: BSE
