RITES Limited has announced a major update regarding its contract with the National Aluminium Company Limited (NALCO). The original project, involving detailed engineering and project management consultancy for a railway siding at Sankerjang, has received a substantial financial boost. The contract value has been revised from Rs. 79.73 crore to Rs. 118.89 crore, underscoring the expanding scope of the ongoing infrastructure development initiative.
Strategic Project Expansion
RITES continues to strengthen its infrastructure portfolio with an amendment to its existing Letter of Award (LOA) for the Utkal-D Coal Mines project. The scope of work involves Detailed Engineering and Project Management Consultancy (PMC) for the construction of a railway siding at Sankerjang in Phase-I. This project is being executed on a cost-plus turnkey basis, demonstrating the company’s capability in managing complex industrial infrastructure tasks.
Financial Impact and Project Status
The company has confirmed that the total consideration for this engagement has been significantly increased. The contract value has been enhanced by approximately Rs. 39.16 crore, taking the new total to Rs. 118.89 crore (excluding GST, including RITES fees). The project is currently ongoing, and the revised financial terms reflect the additional value and responsibilities integrated into the consultancy agreement. This amendment further solidifies the long-term partnership between RITES and NALCO in the energy and mining logistics sector.
Source: BSE
