Patel Engineering Limited and Rail Vikas Nigam Limited (RVNL) have reportedly signed an initial agreement to collaborate on hydropower and other infrastructure projects both in India and internationally. According to a statement from Patel Engineering, the agreement outlines a framework for collaboration between the company and RVNL, allowing them to leverage each other?s strengths and capabilities in pursuing hydro and other infrastructure projects. Under this Memorandum of Understanding (MoU), both parties will explore opportunities to work together in various capacities.
As part of the agreement, Patel Engineering and RVNL will collaborate on specific hydropower projects as well as other infrastructure initiatives as opportunities present themselves. The partnership aims to combine RVNL's expertise in rail and transport infrastructure with Patel Engineering's extensive experience in the broader infrastructure sector.
The agreement provides the flexibility for the parties to submit joint or independent bids for projects and to participate in tenders. For joint bids, Patel Engineering and RVNL will agree on the terms of cooperation, bidding strategy, and project structure to ensure a unified approach to project execution.
The MoU places significant emphasis on creating a framework that enables synergies in the hydropower and infrastructure sectors, reflecting both parties' shared commitment to maintaining high standards in project delivery and quality.
