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RITES signs agreement for acquiring 24% stake in IRSDC
May-23-2020

RITES has signed shareholders' agreement for acquiring 24 percent stake in Indian Railway Stations Development Corporation (IRSDC) for Rs 48 crore with Rail Land Development Authority and IRCON International being the other equity partners.

Further, the company has resumed operations at most of its offices and project sites after the coronavirus-induced lockdown restrictions were eased. The Miniratna public sector enterprise said that during this lockdown period, apart from concluding negotiations for a major export deal with CFM Mozambique enhanced to Rs 700 crore on account of increase in quantity, it has been able to successfully deliver the 188 RKM Vijaypur-Pachore Road-Maksi section railway electrification project in Madhya Pradesh.

RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.

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