Rail Vikas Nigam (RVNL) said that its joint venture, RVNL-SALASAR has received a letter of award (LoA) from Madhya Pradesh Power Transmission Company (MPPTC) worth Rs 173.98 crore.
Shares of Rail Vikas Nigam (RVNL) rallied 3.12% to Rs 229.70 while Salasar Techno Engineering advanced 3.15% to Rs 20.29 on the BSE.The order includes construction of 132kV & 220kV transmission lines and associated feeder bays on total Turnkey basis in eastern MP.
The total cost of the project is Rs 173.98 crore and it is expected to be completed within 18 months. The company will hold 51% stake in the joint venture company and the remaining 49% share will be held by Salasar Techno Engineering.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment.
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