Rail Vikas Nigam (RVNL) is appointed as project implementation agency for implementation of the UTF (Uthuru Thila Falhu-Island) Harbour project in Maldives.
The order for this strategic project was placed by Ministry of External Affairs (MEA), Government of India.The project costs is Rs 1544.60 crore and it is to be completed within 24 months.
RVNL is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling (including 3rd/4th lines), gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
The company's consolidated net profit jumped 36.5% to Rs 381.22 crore on 21.9% rise in net sales to Rs 4,908.90 crore in Q2 FY23 over Q2 FY22.
Shares of RVNL fell 0.16% to Rs 63.55 on Tuesday, 27 December 2022.
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