News ArticleRITES Limited Wins Rs. 400 Crore Tender to Supply Broad Gauge DMU Train Sets to Sri Lanka Railways
Contract execution to be completed within 12 months subject to due evaluation by Sri Lanka Railways
RITES Limited has emerged as the lowest bidder in a Rs. 400 Crore tender to supply broad gauge Diesel Multiple Unit train sets to Sri Lanka Railways. The contract is subject to evaluation and is to be executed within 12 months from letter of credit opening.
RITES Limited
Order Wins
RITES Limited has been selected as the lowest bidder for supplying broad gauge Diesel Multiple Unit (DMU) train sets to Sri Lanka Railways, with an estimated contract value of Rs. 400 Crore (USD 41.45 million).
The contract is for the supply of DMU train sets designed for broad gauge tracks, intended for Sri Lanka Railways.
While RITES is the lowest bidder, the final contract award is pending due process of scrutiny and evaluation by Sri Lanka Railways as specified in the tender documents.
This contract is an international order and is expected to be executed within 12 months from the opening of the letter of credit (LC).
There is no declared interest of RITES promoters, promoter group, or group companies in Sri Lanka Railways, and the contract does not involve any related party transactions.
Highlights
- RITES Limited selected as L-1 bidder for Rs. 400 Crore tender.
- Supply of broad gauge Diesel Multiple Unit (DMU) train sets.
- Contract subject to Sri Lanka Railways scrutiny and evaluation.
- Execution timeline is 12 months from LC opening.
- No promoter interest or related party conflict involved.
Key Data Snapshot
What happened
- RITES Limited emerged as the lowest bidder in the tender for supplying broad gauge Diesel Multiple Unit train sets to Sri Lanka Railways.
- The estimated value of the bid is approximately Rs. 400 Crore (USD 41.45 million).
Key details
- The supply contract is subject to due process of scrutiny and evaluation by Sri Lanka Railways as per the tender documents.
- The contract is international in nature, with no related party involvement or promoter interest in the contracting entity.
- The contract execution timeline is 12 months from the opening of the letter of credit.
Regulatory and governance context
- Disclosure made pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The announcement was made via a formal filing to both NSE and BSE exchanges.
Highlights
- RITES Limited selected as L-1 bidder for Rs. 400 Crore tender.
- Supply of broad gauge Diesel Multiple Unit (DMU) train sets.
- Contract subject to Sri Lanka Railways scrutiny and evaluation.
- Execution timeline is 12 months from LC opening.
- No promoter interest or related party conflict involved.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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