Rail Vikas Nigam Limited (RVNL) has successfully received a Letter of Award (LOA) from the National Mineral Development Corporation (NMDC). The contract is valued at ₹371.69 Crore and involves the ‘Development of Township in Kirandul, Chhattisgarh.’ This project is considered routine business for RVNL, involving domestic execution over a period of 21 Months. The award was disclosed on February 25, 2026.
Major Contract Awarded to RVNL
Rail Vikas Nigam Limited (RVNL) announced on February 25, 2026, that it has received a significant Letter of Award (LOA) from the National Mineral Development Corporation (NMDC). This announcement confirms the receipt of the order following the required regulatory disclosures.
Project Details and Value
The awarded project is specifically for the “Development of Township in Kirandul, Chhattisgarh.”
Key particulars regarding this contract are as follows:
- Awarding Entity: National Mineral Development Corporation (NMDC), a domestic entity.
- Nature of Work: Development of Township in Kirandul, Chhattisgarh.
- Broad Consideration/Size: The project cost is established at Rs. 371.69 Crore (Rupees Three Hundred Seventy One Crore and Sixty Nine Lakhs Only), inclusive of all applicable taxes.
- Execution Timeline: The stipulated time period for completing the order is 21 Months from the date of execution.
- Related Party Status: The contract does not fall within the definition of related party transactions and involves no promoter group interest in the awarding entity.
Business Context
RVNL confirmed that undertaking this development work falls entirely within the normal course of business for the company. The contract was awarded by a domestic entity, and the general terms align with standard General Contract Conditions.
The disclosure has been formally submitted and is accompanied by the necessary declaration as per regulatory guidelines dated November 11, 2024.
Source: BSE
