State-owned Rail Vikas Nigam Limited (RVNL) announced that it has won a work order from East Coast Railway for construction projects in Odisha, emerging as the lowest bidder. The order, valued at Rs 283.69 crore, is expected to be completed within 24 months, according to a filing with stock exchanges.
The work includes the construction of the 3rd and 4th lines between Jarapada and Talcher Road, as well as a new line connecting Angul to Balram (MCRL Inner Corridor Phase-I Doubling for 14 kilometers). The scope covers earthworks, minor and major bridges, track linking works, supply of ballast, signaling and telecommunications buildings, level crossings, and other miscellaneous works between Jarapada and Talcher Road, excluding station yards. It also includes works between Angul and Balram, including yard construction for MCRL Inner Corridor Phase-I Doubling.
RVNL, which operates under the Ministry of Railways, was awarded 'Navratna' status last year, allowing it to invest up to ?1,000 crore without needing central government approval. The company was incorporated as a public sector undertaking (PSU) on January 24, 2003, with the aim of enhancing railway infrastructure capacity. It received 'Mini-Ratna' status in September 2013.
In 2024, RVNL's shares have surged approximately 190%, and over the past 12 months, they have increased by around 205%.
