RITES Limited has been declared the lowest bidder (L-1) in a tender issued by Sri Lanka Railways for the Supply of Broad Gauge Diesel Multiple Unit (DMU) Train Sets. The estimated value of this international contract is approximately ₹400 Crore (USD 41.45 Million). The execution of the order is subject to due process and scrutiny by Sri Lanka Railways, with a stipulated time period of 12 months from the opening of the Letter of Credit (LC).
RITES Secures Key International Contract
RITES Limited has announced its emergence as the lowest bidder (L-1) in a significant tender floated by Sri Lanka Railways. The tender pertains to the Supply of Broad Gauge Diesel Multiple Unit (DMU) Train Sets, marking a substantial international win for the Indian public sector undertaking.
Contract Details and Value
The estimated value of the awarded contract is approximately ₹400 Crore, equivalent to USD 41.45 Million. This order represents a significant addition to RITES’ order book and underscores its capabilities in the railway infrastructure and rolling stock sector on an international scale. The company’s official notification highlights that further progress is contingent upon the due process of scrutiny and evaluation by Sri Lanka Railways, as per the tender requirements.
Project Execution and Timeline
The contract is set to be executed within a period of 12 months from the opening of the Letter of Credit (LC). The nature of the contract is the supply of rolling stock, which will be provided to an international entity. RITES has confirmed that this is not a related party transaction.
This development is in line with RITES’ strategy to expand its global footprint and secure significant infrastructure projects internationally.
Source: BSE
