Directors Report of Rail Vikas Nigam Ltd.

Mar 31, 2021

The Directors are pleased to present the 18th Annual Report and Audited Financial Statements for the Financial Year ended 31st March, 2021 together with the reports of Statutory Auditors and Comptroller & Auditor General of India theron.

Integral Reports

The “Management Discussion and Analysis Report”, “Corporate Governance Report”, “Corporate Social Responsibility (CSR) Report”, Business Responsibility Report (BRR),“Secretarial Auditor Report” with relevant sub-appendices, and Disclosure of Related Party Transactions form an integral part of this Directors’ Report and have been placed as Annexure “A”, “B”, “C”, “D”, “E” and “F” respectively.

The Management Discussion and Analysis

Report provides an overview of the affairs of the Company, its business environment, mission and objectives, outlook, operational performance, its resources and systems, strengths, opportunities, constraints, risks and concerns, strategies, prospects, etc. (Annexure A).

The Corporate Governance Report highlights the Company’s philosophy on Corporate Governance and Key Values, composition of Board of Directors and its Committees, attendance and remuneration of Directors etc. other relevant disclosures, CEO/ CFO Certification and general information for share holders. It is supplemented by the following compliance certificates as required under DPE Guidelines and SEBI Regulations. (Annexure B).

(i)    A Certificate signed by the Chairman and Managing Director affirming receipt of compliance with the Code of Conduct from all Board members and Senior Management personnel during the year 2020-21 (placed at Annexure “B-1”) as per guidelines of Department of Public Enterprises on Corporate Governance.

(ii)    A Certificate from the Chairman and Managing Director (CMD) and Chief Financial Officer (CFO) with regard to the authenticity of financial statements (placed at Annexure “B-2”); and

(iii)    A Certificate of compliance of Corporate Governance signed by a practicing Company

Secretary (placed at Annexure “B-3”) as per guidelines of Department of Public Enterprises on Corporate Governance and Listing Regulations.

(iv) Certificate on non-disqualification of Directors as per schedule V of SEBI (LODR) Regulations, 2015 (placed at Annexure “B-4”)

The Corporate Social Responsibility (CSR) Report reflects RVNL’s plans, policy, budget, expenditure, evaluation process for projects and CSR activities undertaken during the year. (Annexure C).

The “Business Responsibility Report” describes the initiatives taken by the Company from an environmental, social and governance perspective. This is in compliance with the provisions of clause (f) of sub-regulation (2) of regulation 34 of SEBI (LOdR) (fifth Amendment) Regulations and is mandated for the top 1000 listed companies based on market capitalization. (Annexure D).

Pursuant to provisions of Section 204 of Companies Act, 2013 and Companies (Appointment and Remuneration of Managerial personnel) Rules 2014, the Company has appointed M/s. Kumar Naresh Sinha & Associates, Practicing Company Secretary, to undertake the Secretarial Audit of the Company. The Secretarial Audit Report is placed at Annexure “E”.

Pursuant to section 134 (3) (a) and of the Companies Act, 2013 read with Rule 12 (1) of the Companies (Management and Administration) Rules 2014, the “Extract of Annual Return (MgT-9)” and as per Section 92 (3) of the Companies Act, 2013, Annual Return will be available on the website of the Company i.e. www.rvnl.org.

The disclosure of Related Party Transactions, as required under section 134 (3) (h) of Companies Act, 2013 and Rule 8 (2) of the Companies (Accounts) Rules, 2014 in Form “AOC-2” is placed at Annexure “F”.

IMPACT OF CORONAVIRUS (COVID-19)

During the year 2020-2021, world witnessed an unprecedented global outbreak of the COVID-19 pandemic leading to a humanitarian crisis, lockdown across many countries including India and a significant economic fallout. These nationwide lockdown restrictions had impacted the normal

 

operations of the Company by way of interruption of project execution, unavailability of personnel during the lockdown period. Since the situation is quite volatile, the Company is assessing and monitoring the situation regularly. The Company had resumed its operations only after completion of safety checks. To the extent possible, the Company has taken various steps to ensure safety at work place and smooth functioning of operations. The working of the company streamlined with work from home norms and roaster for the employees as per the guidelines issued by the Government Authorities.

Further, e-office is being encouraged among the officers for faster working, meetings through video conferencing (VC) is being done to maintain social distancing. The Company is taking utmost care of its staff and work force like Thermal Screening of all employees and visitors, sanitization, maintenance of social distancing, enforcing wearing of masks etc. Further, proactive steps have been taken to vaccinate all employees, PMCs and the executing agencies as vaccination is the only panacea for Covid-19 Pandemic.

1. FINANCIAL PERFORMANCE HIGHLIGHTS

The key highlights of the financial performance of the company during F.Y. 2020-21 along with the corresponding performance in F.Y. 2019-20 are mentioned below (rounded to nearest rupees/crore):

 

(' in crore)
Particulars	2020-21	2019-20	% Increase/ (Decrease)
Turnover	15403.65	14530.58	6.01
Total Income	15730.40	14796.16	6.31
Operating Income	1174.07	1114.76	5.32
PBT(Excluding interest , dividend, Misc, income & provision written back)	859.04	750.05	14.53
Reserves & Surplus	2880.56	2414.76	19.29
Profit Before Tax	1155.67	990.83	16.64
Profit After Tax	940.55	789.85	19.08
Net worth	4965.58	4499.78	10.35
Appropriations	Â	Â	Â
Dividend	*329.43	237.69	38.60

* Includes final dividend amounting to Rs.91.74 crore (@ Rs 0.44 per fully paid equity share) recommended by the Board of Directors

2. PHYSICAL PERFORMANCE

Your Directors are delighted to inform that the F.Y. 2020-21 has been a year of excellence and growth for the Company. Your Company surpassed all previous achievements.

• Total project Length completed during the F. Y. 2020-21 was 2306.39 km (780.68 km of Doubling, 181.57 km of Gauge Conversation, 1340 km of Railway Electrification, 4.14 km of Metropolitan Transport Project (MTP).

Capital Structure

With an authorized share capital of the Company of Rs. 3000 crores, there has been no change in the Capital Structure of the Company, with the paid-up share capital of the Company remaining at Rs.

2085.02 crore. The Company has not issued any share during the year under consideration.

Offer for Sale (OFS):

In compliance with Department of Investment and Public Asset Management (DIPAM) O.M. dated 23.03.2021, Disinvestment of 200,933,926 equity shares (9.64%) were done by the President of India acting through Ministry of Railways through OFS from 24.03.2021 to 25.03.2021 realizing an amount of Rs.5526002041.48.

Offer for sale- Employees

In compliance with Department of Investment and Public Asset Management letter dated 31.03.2021, Disinvestment of 127923 equity shares ((0.006%) were done by the President of India acting through Ministry of Railways through Employees-OFS on 08.04.2021 realizing an amount of Rs. 35,17,882.50.

Turnover

Your Company has achieved a highest ever turnover of Rs. 15403.65 crore in 2020-21 as compared to Rs.14530.58 crore in 2019-20, showing an increase of

6.01 % despite continuation of pandemic COVID -19 globally and in India.

This became achievable mainly due to the assured availability of funds for project expenditure during the year by the Ministry of Railways, which accounts for 90.80 % of the Turnover. In addition, over the years the Company has also put a large number of large value contracts in place to speed up the process of project execution. At the same time, there has also

been a slight increase in the level of expenditure on works undertaken for SPVs and other deposit works to Rs.1417.63 crore during 2020-21 in comparison to Rs.1394.45 crore in the previous year.

Profit

Profit before Tax increased from Rs. 990.83 crore in

2019- 20 to Rs. 1155.67 crore in 2020-21. The major increase is on account of higher gross margin from project execution from Rs. 750.05 crore in previous year to Rs. 859.04 crore in 2020-21. Profit after Tax increased from Rs. 789.85 crore in F. Y. 201920 to Rs. 940.55 crore in F. Y. 2020-21 showing an increase of 19.08 %.

Net Worth

The Net Worth of your Company has increased over the previous year on account of transfer of profits (after payment of Dividend) amounting to Rs. 465.16 crore and on account of OCI Rs. 0.59 Crore to Reserves and Surplus. Accordingly, the Net Worth of the Company has increased from Rs. 4499.78 crore at the end of previous year to Rs. 4965.58 crore at the end of the current year.

Reserves

The balance under Reserves & Surplus at the end of

2020- 21 stands at Rs. 2880.56 crore in comparison to Rs.2414.76 crore in 2019-20.

Dividend

An Interim dividend of Rs. 237.69 was paid during the FY 2020-21. The Board recommended a final dividend of Rs. 91.74 crores (Rs. 0.44 per share) subject to the approval of shareholders in the ensuing Annual General Meeting of the Company. Total dividend for the financial year 2020-21 is Rs.329.43 crore , showing an increase of 38.60 % over previous year.

Fixed Deposits

No deposits from the public have been accepted by the Company during the year under review.

Reimbursement of Expenditure

RVNL received an amount of Rs. 16145.59.crore (approx..), for project expenditure during the current year, from Ministry of Railways (MoR) for execution of various works.

Loans from IRFC

During the year, an additional amount of Rs. 1429.69 crore was received as borrowings from IRFC. With this, the total amount received from IRFC is Rs. 7165.08 crore.The principal and interest on the borrowings from IRFC are repaid by Ministry of Railways (MoR) as a pass through entry in the books of RVNL. During the year, an amount of Rs.230.29 crore was paid to IrFc on this account, leaving an outstanding loan balance of Rs. 5151.89 crore.

CONSOLIDATED FINANCIAL STATEMENTS

The consolidated Financial Statements of the Company prepared in accordance with the provisions

of Companies Act, 2013 and the applicable Indian Accounting Standards (IND-AS) for the financial year 2020-21 forms part of the Annual Report of the Company.The accounts have been consolidated based on the performance and activities of the SPVs and the share of RVNL in those entities as an equity partner and its wholly owned subsidiary HSRC. The related entries appearing in the standalone accounts of RVNL have been adjusted accordingly in consonance with the relevant Indian Accounting Standards (Ind AS 110& 28). The salient features of differences in the significant entries between the Stand Alone Accounts of RVNL and the Consolidated Accounts are as under:

(' in crore)
Particular	Figures as on 31.3.2021 Stand Alone	Figures as on 31.3.2021 Consolidated
Turn Over	15403.65	15403.76
Other Income	326.75	309.32
Direct Expenses	14229.58	14229.41
Indirect Expenses	345.15	345.68
PBT	1155.67	*1137.55
PAT	940.55	922.41
Reserve & Surplus	2880.56	3481.87
Net Worth	4965.58	5566.89
* PBT includes Rs.(0.44 ) crore as proportionate share of RVNL in the profit/loss of Joint Ventures.

SUBSIDIARY, JOINT VENTURE AND ASSOCIATE COMPANIES

A report on the performance and financial position of subsidiary, associates and joint venture Company as per Companies Act 2013 is provided in Note-43 to the Consolidated Financial Statements.

Operational Performance1. Projects Execution3.1 Physical Size of the Projects:

Since its establishment in 2003, Ministry of Railways has transferred 187 projects to RVNL for execution,

which may be broadly classified under the following heads:
• Doubling	71
• Gauge Conversion	11
• New Lines	13
• MTP	5
• Railway Electrification	37
• Workshops	21
• Others	29
• Unsanctioned	5 (1 Doubling, 3 GC, 1 RE)

3.1.1    Nature of Works being Executed by RVNL:

RVNL is executing all types of Railway Infrastructure works such as New Line, Gauge Conversion, Doubling/3rd Line/4th Line, Railway Electrification, Workshops, Hill Railway Projects, Institutional Buildings, Mega Bridges, Metro Railway, etc.

3.1.2    Project Implementation Units (PIUs):

These projects are spread all over the country and for efficient implementation of projects, 38 Project Implementation Units (PIUs) have been established at 26 locations to execute projects in their geographical hinterland. They are located at Ahmedabad, Agra, Ambala, Bengaluru, Bhopal, Bhubaneshwar (2 Units), Chennai (2 Units),

Chandigarh (2 Units), Guwahati, Jodhpur, Jhansi, Kanpur, Kolkata (3 Units), Kharagpur, Kota (2 Units), Lucknow (3 Units), Mumbai, Pune (2 Units), Patna, Raipur, Rishikesh, Ranchi, Secunderabad, Varanasi (3 Units), Vijayawada and Waltair (2 Units). The PIUs are established and closed as per requirement.

3.2 Status of physical progress of projects

The status of the 183 projects assigned to RVNL for execution is as under: -

Projects completed up to March 2021    :    101

Projects under implementation    :    86

Projects yet to be sanctioned    :    5

3.2.1 RVNL has so far completed 101 projects.

The list of 92 projects fully completed up to March, 2020 is as under:

S. No.	Railway	Project Name	Type of Project	Length (km)
1.	Central Railway	Diva - Kalyan 5th & 6th Line	Doubling	11
2.	Central Railway	Pakni - Mohol Doubling	Doubling	17
3.	Central Railway	Panvel - Jasai JNPT Doubling	Doubling	28.5
4.	Central Railway	Pakni - Solapur Doubling	Doubling	16.28

3.3    Total project length completed:

Cumulatively, RVNL has completed a total of 4264.05 km of doubling, 2070.20 km of gauge conversion, 455.55 km of new lines, 6309.93 km of pure Railway Electrification, 2942.95 km RE as part of NL/GC/ DL and 46.14 km of Metropolitan Transport Project (MTP). Thus, as on 31.3.2021, 13,145.87 km of project length out of a total length of 17,123.72 km of 187 sanctioned projects (5 projects of 733.5 km of length are yet to be sanctioned) assigned to RVNL, have been completed.

3.4    Project length completed during 2020-21:

During 2020-21, 2306.39 km (780.68 km of Doubling, 181.57 km of Gauge Conversion, 1340 km of Railway Electrification, 4.14 km of Metropolitan Transport Project (MTP) and 2

Workshop Project have been physically completed. In addition, Railway Electrification of 557.66 km was also carried out in other than specific Railway Electrification projects as part of Doubling.

3.4.1    Sections completed under Gauge Conversion Plan Head: During the year, 181.57 km of Gauge Conversion was completed, the details are given below:

3.4.1.1    Lucknow-Pilibhit via Sitapur, Lakhimpur (262.76 km): During the year, 43 km project length was completed. Mailani-Sehramau (9.25 km) was completed in October 2020. Sehramau-Dudhia Khurd (13.68 km), Dudhia Khurd-Puranpur (9.25km) and Puranpur-Shahgarh (10.86 km) was completed in March 2021.

3.4.1.2    Dhasa-Jetalsar (104.44 km): During the year, 52.32 km project length was completed. Khijadiya-Chital (6.02 km) was completed in August 2020, Chital-Lunidhar (14.55 km) was completed in September 2020, Jetpur-Jetalsar (7.26 km) was completed in January 2021, Lunidhar-Kunkavav (13.72 km) and Kunkavav-Khakhariya (10.77 km) was completed in March 2021.

3.4.1.3    Ahmedabad-Botad (170.48 km): During the year, 86.21 km project length was completed. Lothal Bhurkhi-Matoda (50.45 km) was completed in August 2020, Matoda-Vastrapur (15.46 km) was completed in September 2020 and Vastrapur-Sabarmati (20.30 km) was completed in November 2020.

3.4.2 Sections completed under Doubling Plan Head:

During the year, 780.68 km of Doubling was

completed, 78.94 km completed under Clients Order milestone without time overrun projects are given under item No. 3.4.2 and 65.66 km are given under item No. 3.4.3 (Return on Investment in JV) and the same for 636.08 km are given below:

3.4.2.1    Daund- Gulbarga Doubling (224.9 km):

During the year, 27.67 km project length was completed. Gangapur- Hunsihadgil (6.58 km) was completed in June 2020. Kulali- Gangapur (13.36 km) and Bhalwani- Jeur (7.73 km) were completed in October 2020.

3.4.2.2    Sonnagar-Patratu 3rd Line (291 km):

During the year, 15.57 km of project length was completed. Rajuhara-Tolra (9.54 km) and Tolra-Garhwa Rd. (6.03 km) were completed in March 2021.

3.4.2.3    Sambalpur-Titlagarh (182 km): During the year, Sikir-Titlagarh (10.15 km) was completed in March 2021.

3.4.2.4    Vizianagaram-Sambhalpur (Titlagarh) 3rd line (264.60 km): During the year, Titlagarh-Kesinga (12,96 km) was completed in March 2021.

3.4.2.5    Raipur-Titlagarh (203 km): During the year, 41.38 km of project length was completed. Arang Mahanadi-Lakholi (7.11 km) was completed in September 2020. Turekela Road-Kantabanji (15.0 km) and Arang Mahanadi-Belsonda (7.0 km) were completed in November 2020 and Lakholi-Mandir Hasaud (12.27 km) was completed in March 2021.

3.4.2.6    Utretia-Rae Bareli (65.6 km): During the year, 21.10 km of project length was completed. Harchandpur-Gangaganj (7.06 km) was completed in September 2020. Kundanganj-Harchandpur (6.25 km) was completed in October 2020 and Gangaganj-Raebareli (7.79 km) in March 2021.

3.4.2.7    Raebareli-Amethi (60.1 km): During the year, 29.52 km of project length was completed. Bani-Jais (9.74 km) was completed in September 2020. Jais-Fursatganj (10.49 km) was completed in February 2021 and Fursatganj-Rupamau (9.29 km) in March 2021.

3.4.2.8    Rajpura-Bhatinda (172.64 km): During the year, 55.04 km of project length was completed.

Rajpura-Daunkalan (18.50 km) was completed in January 2021. Kaulseri-Sekha (28.46 km) and Lehra Muhabbat-Bhuchchu (8.08 km) were completed in March 2021.

3.4.2.9    Bhimsen-Jhansi (206 km): During the

 

year, 57.25 km of project length was completed. Chaunrah-Malasa (18.21 km) was completed in November 2020, Nandkhas-Erich Road (23.86 km) in February 2021 and Erich Road-Parauna (10.68 km) in March 2021.

3.4.2.10    Mathura-Jhansi-3rd line (273.80 km):

During the year, 50.60 km of project length was completed. Dholpur-Mania (10.82 km) and Birlanagar-Rayaru (10.11km) were completed in August 2020. Mania-Jajau (13.10 km) was completed in September 2020, Rayaru-Banmor (6.31km) in December 2020 and Anantpaithi-Antri (10.26 km) in March 2021

3.4.2.11    Varanasi-Madhosingh-Allahabad (120.20 km): During the year, Madhosingh-Ahimanpur (4.02 km) was completed in September 2020.

3.4.2.12    Sarotra Road-Karjoda - Patch doubling (23.59 km): During the year, Jethi-Chitrasni (4.39 km) was completed in September 2020, thus completing the project.

3.4.2.13    Madurai-Maniyachi-Tuticorin (160 km): During the year, 70.96 km of project length was completed. Tirumangalam - Kalligudi (14.45 km), Kalligudi - Virudunagar Jn. (11.41 km) and Virudunagar Jn. - Tulakapatti (15.32 km) were completed in January 2021. Kovilpatti - Kumarapuram (10.48 km), Kumarapuram - Kadambur (11.83 km) and Tattapparai - Milavittan (7.47 km) in March 2021.

3.4.2.14    Maniyachi-Nagercoil (102 km): During the year, Gangaikondan - Tirunelveli Jn. (14.50 km) was completed in December 2020.

3.4.2.15    Vijaywada - Gudivada - Bhimavaram-Narasapur, Gudivada - Machlipatnam and Bhimavaram - Nidadavolu (221 km) - Doubling with electrification: During the year, 58.78 km project length was completed. Nidamanuru -Uppaluru (5.72 km) was completed in November 2020. Pennada Agraharam - Palakollu (15.97 km) and Ramavarappadu - Nidamanuru (5.75 km) were completed in January 2021. Vijayawada - Ramavarappadub (7.25 km) in January 2021. Palakollu - Narasapur (8.80 km), Kaldhari - Tanuku (10.46 km) and Bhimavaram Jn. - Pennada Agraharam (4.83 km) were completed in March 2021.

3.4.2.16    Vijayawada - Gudur - 3rd line (287.67 km): During the year, 22.27 km project length was completed. Kodavaluru-Talamanchi (4.66 km) & Alluru Road-Bitragunta (6.25 km) were completed in June 2020. Padugupadu-Kodavaluru (7.36 km) & Bitragunta-SV Palem (4.0 km) were completed in

December 2020.

3.4.2.17    Secunderabad - Mahbubnagar (85.24 km): During the year, 31.32 km project length was completed Umdanagar-Timmapur(16.56 km) and Timmapur-Shadnagar (14.76 km) were completed in February 2021.

3.4.2.18    Kharagpur-Adityapur 3rd line (132 km): During the year, 28.94 km project length was completed. Sardiha-Jhargram (15.32 km) was completed in October 2020 and Gidhni-Chakulia (13.62 km) in March 2021.

3.4.2.19    Hospet - Hubli - Londa - Tinaighat -Vasco da Gama (352.28 km): During the year, 28.94 km project length was completed. Unkal-Dharwad (17.0 km) was completed in September 2020, Hubli-Unkal 9 4.0 km) in December 2020, Sanverdom-Chandergao (6.40 km) in January 2021 and Chandergao-Madgaon (7.8 km) in March 2021.

3.4.2.20    Bina - Kota Doubling with RE: During the year, 23.49 km of project length was completed. Ashok Nagar-Hinotiya Pipalkhera (8.92 km) was completed in September 2020 and Bhonra-Antah (15.03 km) in January 2021.

3.4.2.21    Barkhera - Habibganj - 3rd line (41.420 km): During the year, 25.01 km of project length was completed. Ashok Nagar-Hinotiya Pipalkhera (13.48 km) and Obaidullaganj-Barkhera (11.53 km) were completed in November 2020, thus completing the project.

3.4.3 Completion of Client Order Milestone without time overrun: During the year, 78.94 km sections were completed, the details are given below:

3.4.3.1    Sambalpur-Titlagarh (182 km): During the year, 26.05 km of project length was completed against the MoU 2020-21 timeline target of 25 km. Sambalpur-Hirakud (7.25 km) and Loisinga-Balangir (18.80 km) was completed on 30.09.2020 against the MoU time line target of 31.12.2020

3.4.3.2    Bina - Kota Doubling with RE: During the year, 26.34 km of project length was completed against the MoU 2020-21 timeline target of 25 km. Bina-Mahadeokhedi (6.60 km), Mahadeokhedi-Semarkheri (6.72 km), Semarkheri-Kanjia (7.15 km) and Guna-Maban (5.87 km) was completed on 30.11.2020 against the MoU timeline target of 31.12.2020

3.4.3.3    Varanasi-Madhosingh-Allahabad (120.20 km): During the year, 26.55 km of project length was

completed against the MoU 2020-21 timeline target of 25 km. Ahimanpur-Gyanpur Road (8.85 km) was completed on 23.09.2020. Gyanpur Road-Jangiganj (8.45 km) and Jangiganj - Bhiti (9.25 km) was completed on 22.12.2020 against the MoU timeline target of 31.12.2020

3.4.4    Completion of Doubling of Railway line by Kutch Railway Company Limited: During the year, 65.66 km doubling of Railway line by Kutch Railway Company Limited under the project Palanpur-Samakhiali was completed. Varahi-Vaghpura (14.77 km) was completed in June 2020, Diyodar-Bhabhar (17.19 km) in August 2020, Palanpur-Chandisar (13.50 km) in October 2020 and Bhabhar-Devgam (11.82 km) & Vaghpura-Chansara (8.38 km) in February 2021.

3.4.5    Sections completed under Pure Railway Electrification Works:

During the year, 1340.0 km of Railway Electrification

was completed, details are given below:

3.4.5.1    Pune - Wadi - Guntakal RE (641 km):

During the year, total 195 km project length was completed. Kurduwadi - Bhaloni (28 km) in May-20, Kurduwadi-Bhaloni (28 km), Bhigwan-Wasimbe (15 km), Tajsultanpur-Gulberga-Savalgi (26 km) in June 2020, Washimbe-Dhavlas (35 km) in July 2020, Kurduwadi-Wadsinge (8 km) in August 2020, Wadshinge-Angar (25 km) in October 2020, Angar-Malikpet (13 km) in November 2020 & December 2020, Savalgi-Gangapur Road (8 km) in November 2020, Savalgi-Tilati (in patches) (23 km) in December 2020, Malikpet-Mohol (6 km) in January 2021 and Mohol-Mundewadi (8 km) in March 2021 were competed.

3.4.5.2    Kasganj-Bareilly, Bhojipura-Daliganj (401 km): During the year, total 108 km project length was completed. Ramganga Bridge-Bareilly (9 km) in May-20, Sitapur-Hargaon (25 km) in August 2020, Hargaon-Lakhimpur (24 km) in September 2020, Bareilly-Sethal (30 km) in October 2020, Sethal-Bijaraui (5 km) in November 2020 and Bijaraui-Lalurikhera (15 km) in December 2020 were competed.

3.4.5.3    Raebareli-Unchahar RE including Dalmau-Daryapur Section (63 km): During the year, total 63 km project length was completed. Daryapur Unchahar (27 km) in September 2020, Raibareli-Daryapur (15 km) in November 2020, Daryapur-Urbani (7 km) in January 2021 and Urbani-Dalmau (14 km) in February 2021 were completed, thus completing the project.

3.4.5.4    Jakhal - Dhuri - Ludhiana (123 km): During the year, total 71 km project length was completed. Dhuri-Sunam (31 km) and Jhakal-Gurney (6 km) in May-20 were completed, thus completing the project.

3.4.5.5    Raninagar-Jalpaiguri-New Bongaigaon (221 km): During the year, total 148 km project length was completed. Jalpaiguri Road-New Domahani (7.5 km) in May-20, Betgara-Salbari (In patches) (32.5 km) in May-20 & June-20, Falakata-Sajepar (27 km) in June 2020, Sajepar-Samuktala Road (52 km) in July 2020, Samuktala Road-Jorai (19 km) in September 2020 and Jorai-Shrirampur Assam (10 km) in October 2020 were completed.

3.4.5.6    New Bongaigaon-Guwahati (160 km):

During the year, total 132 km project length was completed. Bongaigaon-Pathshala (91 km) in May-20, Pathshala-Gograpar (34 km) in June 2020 and Gograpar-Rangiya (7 km) in September 2020 were completed.

3.4.5.7    Rani - Palanpur (166 km): During the year, total 87 km project length was completed. Keshavganj-Swroopganj (31 km) in May-20, Swroopganj- Kiverli (37 km) in June 2020, Kiverli-Morthala (6 km) in July 2020 and Morthala- Mawal (13 km) in September 2020 were completed, thus completing the project.

3.4.5.8    Palanpur-Samakhiali (247 km): During the year, total 52 km project length was completed. Palanpur-Bhiladi (18 km) in November 2020, Chandisar- Disa (12 km) in December 2020, Bhildi-Jaisali (11 km) in January 2021 and Disha-Lorwada (11 km) in February 2021 were completed.

3.4.5.9    Vijaywada-Gudivada-Bhimavaram-NDD & GDV-MTM & BVRT-NS (220 km): During the year, total 82 km project length was completed. Vijaywada-Gudivada (41 km) in July 2020, Moturu-Akividu (31 km) in May-20, September 2020 & November 2020 (in patches) and Gudivada-Kavutaram (10 km) in January 2021 were completed.

3.4.5.10    Falaknuma - Umdanagar (13 km) RE:

During the year, total 09 km project length i.e. Falaknuma-Umdanagar (09 km) was completed in May 2020.

3.4.5.11    Villupuram - Cuddalore Port -Mayiladuturai - Thanjavur & Mayiladuturai -Thiruvarur (228 km): During the year, total 71 km project length was completed. Mayiladutarai-Kuttalam (7 km) in May-20, Kuttalam-Aduturai (6 km) in June 2020, Aduturai-Kombakonam (16 km) in July 2020 Kombakonam-Pandavaradai (28 km)

 

in August 2020 and Pandavaradai-Thanjavarur (14 km) in September 2020 were completed, thus completing the project.

3.4.5.12    Hospet- Huballi- Vascodegama (346 km): During the year, 87 km project length was completed. Koppal-Ginigera (17 km) in May-20, June 2020 & July 2020, Ginigera-Munirabad (10 km) in August 2020, Koppal-Bhanapur (10 km) in September 2020, Bhanapur-Bannikoppa (19 km) in October 2020, Kyarkop-Mugad (4 km) in November 2020, Bannikoppa-Sompur Roaad (7 km), Dharwad-Kyarkop( 13 km) in December 2020, Sompur Road-Harlapur(10 km) in January 2021, Hubali TsS- East cabin (4 km) in February 2021.

3.4.5.13    Chikjajur - Bellary (184 km): During the year, Rayadurga- Thalaku (48 km) in June 2020 was completed.

3.4.5.14    Banglore-Omalur (196 km): During the year 70 km project length was completed. Baiyyappanahalli -Hosur (51 km) was completed in ‘May- August 2020’, Hosur-Periyanaga (29 km) was completed during October 2020 & February 2021.

3.4.5.15    Guna-Gwalior (227 km): During the year, 117 km project length was completed. Shivpuri-Mohana (55 km) in May-20, Mohana-Ghatigaon (28 km) in June 2020 and Ghatigaon- Gwalior (34 km) in September 2020 were completed, thus completing

the project.

3.5    Workshop project completed: During the year, 2 Workshop project were completed, the details of which are as under:

3.5.1    Latur- Setting up of coach manufacturing factory (CR): Latur - Setting up of coach manufacturing factory known as Marathwada Rail Coach Factory was completed on 25.12.2020.

3.5.2    Kanpur - Construction of MEMU Car shed (NCR): Kanpur- Construction of MEMU Car shed was completed on 16.02.2021.

3.6    MTP Plan Head Projects: During the year, Noapara-Dakshineswar 4.14 km section was completed with two new Metro Stations at Baranagar and Dakshineswar. The project involves contraction of viaduct and track taking off from existing Nopara Metro Station till Dakshineswar. The train operation started on 22.02.2021.

3.7    Projects Fully Commissioned and Handed Over to Railways:

Out of 101 projects completed so far, 100 projects have been fully commissioned and handed over to Railways for operations and maintenance.

 

3.9 Signalling and Telecommunication

Signalling & Telecommunication (S&T) is the nerve centre for efficient and safe operation of trains on Indian Railways. There has been a significant evolution of technology in this stream, leading to the adoption of most modern Automatic Train Protection (ATP) system in the present times.

The technology driven advancement is focused to ensure 100% safety in train operations and enable enhanced train speeds. The objective is to optimize overall efficiency of train services and increase line capacity of rail sections.

S&T systems rely on technical inputs from Original Equipments Manufacturers (OEMs) and different system providers, on the strength of close coordination between the design teams of RVNL/ Railways and the contracting agencies. RVNL has accorded highest priority to S&T works under its spread, thus leading to commissioning of state of the art signalling system and best in class facilities. The nationwide impact of pandemic has been overcome with sheer grit and determination by RVNL with commendable success. Team S&T has played a pivotal role in attaining the objectives set, commissioning targeted signalling works associated with doubling, tripling, Intermediate block signalling,

Rail Electrification, Interlocking of mid-section level crossings and Yard remodelling.

The result oriented approach of RVNL has exemplified a very significant outcome in terms of the works executed during 2020-21 in the domain of Signalling and Telecommunication. RVNL has executed 182 Nos. of Non-interlocking of stations for commissioning of various works during the year. 66 New Electronic interlocking; 04 New Panel interlocking; and alterations in existing 51 electronic interlocking; 54 panel interlocking and 07 Mechanical signalling stations of doubling/ tripling projects has been completed. 118 Stations of Railway Electrification Projects; Interlocking of 18 mid-section level crossing gates and 23 IBS/Auto signals have been commissioned. Crowning these achievements, is the commissioning of Telecom work comprising optic fibre cable and 6 Squad cable to a length of 1450 km on IR during the year.

Tech excellence has been the hallmark of S&T system in vogue. Signal design to international standards has rendered performance par excellence on Indian Railways, the result of job delegated to RVNL. This excellent performance of RVNL’s S&T team has borne its impact in terms of approval to signal design documents by RVNL for Stations upto 50 routes for doubling and electrification works, earning acknowledgment from the Railway Board

which has put the onus on RVNL to undertake the task upto 75 route stations on West Central and Western Railway. This will expedite the design approval of signalling documents considerably.

The Signal & Telecom infra includes indigenously built state of art electronic interlocking with centralized architecture installed at crossing stations; tech induced dual visual display units for centralized operations of signals and points in Station Master’s rooms; fully air-conditioned aesthetically designed electronic signal maintainers rooms in new station building to signify the best of work environment. Micro processer based digital data loggers have been installed at stations to monitor and record the status of rail signal control and interlocking relays, which detects maintenance issues for immediate redress. SMPS based integrated power supply system is installed to act as single power solution for all signalling equipment and installations at stations. Programmable vital logic controllers have been installed to ensure seamless network interlocking in entire signalling operations.

The cutting edge factors which have been the core to S&T infra of RVNL include advanced axle counters which detect train movement in automatic signalling sections; universal fail safe block interface

equipments in Station Master’s console for interfacing digital transmission of signalling information from one end of a block section to the other. IP based Multi Protocol Label Communication System has been put to use in tracking train operations. Value based inputs include integrated LED lighting system for signals; Video surveillance of prime Railway areas; Highly sensitive fire detection system; OFC based communication system linked to Railway Stations and levelling crossing gates; advanced GPS based integrated auto public address system; dedicated 24 fibre OFC and 6 Q cables for reliability in signalling and communication; A - class lighting protection system and electrically operated levelling crossing gates with energy efficient features.

Signalling and Telecommunication is sure to play a critical role in leading Indian Railways forward on the tracks of progress, to equal the best Rail systems around the world.

3.10 Projects under implementation:

There are 86 projects under various stages of implementation by RVNL.

3.10.1 The details of 82 projects assigned to RVNL till March 2020 and which are under implementation

3.11    Projects yet to be Sanctioned (included in Pink Book):

(i)    Bhadrak-Vizianagaram 3rd Line (385 km)

(ii)    Khijadiya-Visavadar GC (91.27 km)

(iii)    Junagarh-Visavadar GC (42.28 km)

(iv)    Veraval-Talala-Visavadar GC (71.95 km)

(v)    New Bongaigaon-Agthori Via Rangia 2nd Line RE (143 km)

Total 733.5 km project length is yet to be sanctioned.

3.12    Kolkata Metro Projects

3.12.1    Indian Railway transferred the works of four major projects for extension of Kolkata Metro to RVNL in March 2010 viz.

•    Joka-BBD Bag via Majerhat (16.72 km)

•    Dum Dum Airport-New Garia via Rajarhat (32 km)

•    Baranagar - Barrackpore & Dakshineswar (14.5 km)

•    Noapara (Ex.)-Baranagar (2.6 km)

3.12.2    As such RVNL was entrusted to build Metro corridors of about 65 km in Kolkata without any survey of underground utilities and without any DPR (Detailed Project Report). DPR is a pre-requisite for planning of Metro corridors in urban areas. RVNL first engaged RITES for preparation of DPR. Late arrival of metro extension work in the congested and unplanned city was a challenge and required a lot of meticulous planning for identification and removal of encroachments and other impediments to start construction activity of Metro. The land acquisition in Kolkata/West Bengal poses a big problem causing delayed construction of Metro corridors and other infrastructural projects. The issues like removal of encroachments and relocation of utilities along with

traffic diversion have affected the execution. RVNL has taken all possible action for implementation and early commissioning of Metro projects for larger interest of people of Kolkata.

3.12.3    The foundation stone for Joka-BBD Bag project was laid by Her Excellency, President of India on 22.01.2010. Subsequently, 2 packages for viaduct and 2 packages for stations were awarded in December 2010 and April 2012 respectively. This entire Metro corridor has been planned in 2 phases i.e. in 1st phase from Joka to Majerhat elevated section and in the 2nd phase from Mominpur to BBD Bag as underground section. Originally sanctioned as elevated Material Modification is now sanctioned by Ministry of Railways for underground system. For construction of Mominpur station, permission from Army HQ has been received only on 19.04.2017.

Joka - Majerhat (Phase-I) Metro Corridor

3.12.4    The Metro corridor from Joka to Majerhat (Phase-I) has made substantial progress. In fact, from Joka Depot to Taratala (8.80 km), there is no discontinuity and stations are almost ready. The major impediments beyond Taratala, namely, Rehabilitation India building has been dismantled, and the long pending permission from Mint has been received from Ministry of Finance and the viaduct work on that stretch is completed. The next hurdle was construction of Majerhat station. Due to collapse of old ROB at Majerhat on 4th Sept 2018, the construction of Majerhat station came to a halt as State Government did to give permission for the construction work. After the commissioning of new ROB at Majerhat in Nov 2020, NOC has since been received from State Government, and construction of Majerhat Metro station has started in full swing, and is expected to be completed in FY year 202122. Beyond Majerhat, the Joka to Majerhat Metro Corridor will be extended up to Esplanade with an underground section from Mominpur ramp. The GC-cum-PMC contract for the underground section has been awarded recently and the underground construction tender for tunnelling by TBM will be called and finalized in next 9 months’ time so that the underground work can start in full swing.

Since this Metro stretch is a standalone system, a

Maintenance Depot is a pre-requisite. However, due to non-availability of land (24.48 hectare), the tender for the depot was discharged twice, once in February 2013 and again on October 2017. At present, land to the extent of 94%, in Kolkata city has been acquired and land development with boundary wall is in advance stage. Contract for construction of maintenance depot has also been awarded and is in progress.

New Garia-Airport Metro Corridor

3.12.5. In the section of New Garia to Rabindra Tirtha of Dum Dum Airport-New Garia project, initially 4 packages of Viaduct were awarded on 21.10.2011. About 17 km viaduct has been completed. The contracts for 21 stations (3 packages) were awarded on 05.03.2014. Out of 21 stations, station land for one (Technopolis Metro station) is yet to be handed over due to stay Order by the Court. For construction of stations, 6481 piles, 813 pile caps, 789 piers & 677 pier cap have been cast. The project got delayed because of issues relating to land acquisition, traffic diversion, utility diversion and other permission

over busy EM Bypass road. Further, change of alignment proposed by State Government where unauthorized buildings were constructed even after the Gazette Notification for Metro construction, and other impediments like shifting of markets, traffic guard, raising of 220 KV overhead line, removal of encroachments, etc. slowed down the progress of work. Substantial part of these impediments have been either removed and the balance are on the way of being removed. The alignment from City Centre-II to Airport is now approved by State Government after long persuasion and contract for construction of Metro beyond Titumir to Airport has been awarded on 18.01.2021, The work is under progress.

from Baranagar-Barrackpore. The first phase, i.e. from Noapara to Dakshineswar, the Metro corridor has been commissioned and inaugurated by Hon’ble Prime Minister on 22.02.2021, and dedicated to the Nation for public use.

 

Noapara - Baranaaar - Dakshineswar Metro

3.12.6 For Baranagar-Barrackpore & Dakshineswar and Noapara-Baranagar, the work was planned in 2 phases i.e. the first phase being Noapara-Baranagar-Dakshineswar and in the second phase,

For the second phase of this Metro corridor, i.e. Baranagar-Barrackpore, an MoU was signed between State Government, Metro Railway and RVNL in October 2011 where it was decided that RVNL shall commence the work of Metro viaduct construction on BT Road after commissioning of 64” pipeline under the BT Road with the closure of 60” and 42” diameter pipelines. The work of new pipeline has been commissioned but RVNL has not been able to start the work due to non-compliance of provisions of tripartite MoU by the State Government. State Government in their letter

of 03.05.2018 had proposed for change of alignment i.e. through Kalyani Expressway. Ministry of Railways (CRB) had responded this proposal by writing to Chief Secretary, GoWB that under such a situation, it will become a new project requiring fresh sanction. RVNL, on its part, had requested State Government vide letter dated 19.11.2018 to lay a new pipeline through another alignment for which RVNL would bear the cost. However, State Government is to yet examine the proposal and give their consent. As a result, work on this phase of the Metro corridor could not be initiated.

(i)    Noarpara - Baranagar - Dakshineswar:

With sustained efforts at progressing with the work while eliminating all impediments such as encroachments, shifting of utilities by the State Government etc. the state of art Metro Corridor was completed, commissioned and inaugurated by Hon'ble Prime Minister on 22.02.2021. The project has been commissioned inspite of the prevailing COVID 19 Pandemic situation.

(ii)    Joka-Taratala: 8.80 km of viaduct in a continuous stretch from Joka Depot has been completed. Major structures and stations have been substantially completed at Joka, Thakurpukur, Sakher Bazar, Behala Chowrasta, Behala Bazaar, Taratala. It is expected to complete the first phase i.e. Joka to Taratala by March'2022.

(iii)    New Garia-Hemanta Mukheriee in Airport corridor: 5.75 km viaduct including stations portions are now in final stage except a gap before Kavi Sukanta stations where the work is going in full swing after obtaining NOC recently by State Government. The track laying and other system works are in progress. It is expected to complete this first phase by March' 2022.

3.13    Accidents

During 2020-21, no accident was reported from any of the project sites of RVNL.

3.14    ADB funded projects:

The first ADB loan (IND-1981) sanctioned for “Railway Sector Improvement” was closed on 31.12.2011. A 2nd aDb Loan has been sanctioned for funding of 5 projects, namely:

•    Raipur-Titlagarh doubling

•    Sambalpur-Titlagarh doubling

•    Hospet-Tinaighat doubling

•    Daund-Gulbarga doubling

•    Pune-Guntakal Railway Electrification

The funding by ADB requires compliance of various loan covenants on resettlement and rehabilitation of project affected persons, procurement of works and stores following international competitive bidding and implementation of plans for mitigation of social and environmental impact norms. A Multi Tranche Financing Facility of $ 500 million has been agreed to by ADB. The loan agreement for first Tranche (Loan No. 2793-IND) of this MFF for an amount of $ 150 million was signed in July 2012 and the loan agreement for second Tranche (Loan No. 3108-IND) of this MFF for an amount of $ 130 million was signed in February 2014, the loan was closed on 20.12.2019 Project Agreement & Loan Agreement against ADB loan No. 3623-IND (Railway Sector Investment Program- Tranche III) for an amount of $ 130 million have been signed on 16.3.2018.

During 2020-21, an amount of Rs 318.67 crore equivalent to $ 43.15 million has been disbursed by ADB under Loan 3623-IND.

3.15 Contracting:

As the size of projects being executed by RVNL is quite large, to ensure fast award and execution of projects, RVNL invites tenders consisting of multiple packages. Each tender may consist of up to 3 contract packages. This approach has a number of advantages such as:

a)    Multiple contracts can be awarded through one tender which saves time and effort in invitation and finalization of tenders.

b)    Both small and large agencies can compete

for any contract package which increases competition.

c)    Large agencies who are capable of executing big contracts can quote for multiple packages to achieve economy of scale and pass on the benefit to RVNL by quoting discounts in case of award of more than one package.

d)    Smaller agencies, which would not be eligible to quote if the tender for the project was floated in a single package, are now able to compete in any of the contract packages individually as they may meet the qualification requirements of individual packages which are of comparatively smaller value.

During 2020-21,    contracts worth approximately

Rs 22076.83 Crores were awarded.

The following contracts were awarded by the

Company during the year:

•    “Construction    of Tunnels,    Formation,

Construction Shaft and Other Ancillary Works From Chainage 47+360 To 63+117 Km (Fls) With TBM    And NATM under    Package-4

in connection with New BG Line between Rishikesh And Karanprayag (125km) in the State of Uttarakhand, India.” (Rs 3337.60 crore)

•    Construction of Tunnels, Bridges, Yards and

Formation Works from chainage 101+310 to 117+365 (FLS) under Package-8 in connection with new    BG Line between    Rishikesh

and Karanprayag (125km) in the State of Uttarakhand, India.” (Rs 2761.37 crore)

•    “Construction Of Tunnels, Bridges and Formation Works From Chainage 6+015 to 18+444, under Package-1 in connection With New BG Line between Rishikesh And Karanprayag (125km) in State of Uttarakhand, India (Rs 2138.12 crore)

•    Construction of Tunnels, Bridges and Formation works from Chainage 33+097 TO 47+360 under PACKAGE-3 in connection with New BG LINE between Rishikesh AND Karanprayag (125km) in State of Uttarakhand, India” (Rs 2072.41 crore)

•    Construction Of Tunnels, Bridges and Formation Works From Chainage 91+228 To 101+339(Fls) Under Package-7b In Connection With New BG Line Between Rishikesh And Karanprayag(125km) In State Of Uttarakhand, India (Rs 1745.55 crore)

•    Construction of single line BG tunnel no. 11 (9050 m), major & minor bridges, formation works and their ancillary works from chainage 73+489 km to 83+899 km (fls) under package-6 in connection with new single BG Line between Rishikesh and Karanprayag (125km) in state of Uttarakhand, India (Rs 1660.58 crore)

•    “Construction of Tunnels, Bridges and Formation Works From Chainage 117+365 To 125+320 (Fls) Under Package-9 In Connection With New BG Line Between Rishikesh And Karanprayag (125km) In State Of Uttarakhand, India (Rs 1334.95 crore)

•    Construction of Tunnels and Bridges works from chainage 83+899 to 91+228 under package-7a in connection with new BG line between Rishikesh and Karanprayag (125km) in the State of Uttarakhand, India (Rs 1194.16 crore)

•    Construction of National Rail & Transportation Institute at Vadodara (Rs 725.10 crore)

•    Package ANVS : Construction of Viaduct, Ramp & Underground RCC box (cut & cover, box pushing) including related works for 3.520 km length from ch. 25891.527 to ch. 29410.989 between existing pier CP-760 (near City Centre-II) to merging point with Metro Railway at Bimanbandar Station yard including two stations (Rabindratirtha & VIP Road) with all allied works (Architectural, Electrical, Mechanical, Heating, Ventilation, Air Conditioning, Hire Detection, Fire Suppression System & Public Health Engineering works) in Newgaria-Bimanbandar Metro Corridor of Kolkata Metro Railway Line, West Bengal (Rs 532.65 crore)

•    Construction of 24x76.20 M Span Important Bridge over River Gange at Allahabad between Jusi and Daraganj Station on NER in the state of Uttar Pradesh, India” (Rs 495.02 crore)

•    Package-1 i.e. Construction of Road bed, Major bridges, minor bridges, ROBs & RUBs including road approaches, Station Buildings, Staff Quarters, Other Service Buildings, HL Platforms, COPs, FOBs, General Electrification & other Works related to Construction of New BG Line From km 78 (Excluding Yavatmal Station) to km 110 of Central Railway in Maharashtra State, India. (Rs 486.83 crore)

•    Package-2 i.e. “Construction of Road bed, Major bridges, minor bridges, ROBs & RUBs including road approaches, Station Buildings, Staff Quarters, Other Service Buildings, HL

Platforms, COPs, FOBs, General Electrification & other Works related to Construction of New BG Line From km 110 to km 157 (Near Digras Station) of Central Railway in Maharashtra State, India.” (Rs 448.63 crore)

•    Construction of PEB sheds, structures, buildings, P-way and utilities, general electrical works and supply, installation and commissioning of machinery and plant for setting up of Metro Car Depot at Joka in connection with Joka-Esplanade Metro Project in Kolkata, West Bengal, India. (Rs 350.89 crore)

•    Construction of PEB sheds, structures, buildings, boundary wall, water supply arrangement, drainage, sewerage, road works, track works, power supply and general electrical works, telecommunication works and supply, installation and commissioning of machinery and plant in connection with setting up of Rail Coach Naveenikaran Karkhana at Jhansi, Uttar Pradesh (India). (Rs 339.04 crore)

•    Package ANS-3/1 : Construction of 7 Stations from Sub-CBDI to TITUMIR including all related works (Architectural, Electrical & Mechanical (E&M), Heating, Ventilation and Air Conditioning (HVAC), Fire Detection & Fire Suppression System and Public Health Engineering (PHE) Works” on New Garia-Airport Metro Project in Kolkata, West Bengal (India) (Rs 292.62 crore)

•    Construction of roadbed, Minor Bridges, Platforms, Buildings, Switchyards, FOB etc. and Electrical (General) works in Total 46.79 Kms (Package-2) in connection with Doubling of Phaphamau-Janghai Station on Lucknow Division of Northern Railway in the State of Uttar Pradesh. (Rs 207.27 crore)

•    Construction of Metro Railway Viaduct from P276 to P314 including Mominpur Station and Majerhat Station (Excluding PD Building and OCC building side) and Ramp at Joka Depot and in connection with Joka-Esplanade Metro Railway Project in Kolkata, West Bengal. (Rs196.30 crore)

•    PAMBAN BRIDGE: Construction of New Bridge parallel to the existing Br.No.346 at km 655/000 - 657/200 including vertical lift steel span between Mandapam and Pamban stations in Madurai Division of Southern Railway in the State of Tamil Nadu, India - construction

of Substructure from Abutment No.1 to Pier No.76, Approach embankment and Retaining wall at A1 (Rs 153.73 crore)

•    Construction of track linking (excluding supply of rails and sleepers, thick web switches ), supply of ballast, S&T, OHE/RE and General Electrical works in between Badmal - Titlagarh section (20 kms) in connection with Sambalpur

-    Titlagarh doubling project in Sambalpur Division of East Coast Railway in the State of Odisha, India. (Rs 95.27 crore)

•    Package 5 B “Construction of Major Bridges and ROBs/RUBs in connection with 3rd line of track between Gotlam (km 461.252) - Vizianagaram (Inc.) (km 818.65 on HWH-VSKP Main Line) and in connection with Construction of New Single Line BG Track in connection with Bye pass Line between Gotlam (Excl.) (km 461.252)

-    Nellimaria Junction Cabin (km 812/6-8 on HWH - VSKP Main Line) in connection with Titlagarh -Vizianagram 3rd Line Project in Waltair Division of East Coast Railway, Andhra Pradesh State, India. (Rs 89.84 crore)

•    Package 5B “Construction of Roadbed, bridges and general electrifcation works for 3rd line of track between Gotlam (Inc.) (km 459.840)-Vizianagramn (inc.) (km 818.65 on HWH-vSkP Main Line) for a length of 6km and Construction of New Single Line BG Track, Bye pass Line between Gotlam and Nellimaria (8.035 km) involving Construction of Roadbed, bridges and general electrification works between Gotlam (Excl.)(km 461.252)-Nellimaria Junction Cabin (km 812/6-8 on HWH-VSKP Main Line) in Waltair Division of East Coast Railway, Andhra Pradesh State, India (Rs 77.60 crore)

•    Ground Improvement of bad formation location between Machavaram-Nidubrolu stations (Km.367/12-372/0) of BZA-GDR section by Construction of stone columns including supply of stone material for the proposed 3rd line in Vijayawada Division - Issue of Notification of Award - Reg. (Rs 69.54 crore)

•    Ground Improvement of bad formation location between Appikatla and Machavaram stations (Km.363/10-367/12) of BZA-GDR section by Construction of stone columns including supply of stone material for the proposed 3rd line in Vijayawada Division - Issue of Notification of

Award - Reg. (Rs 69.01 crore)

•    Engineering, Supply, Erection, Testing and Commissioning of Electrical & Mechanical works of 7 stations in Airport-New Garia Corridor (from Barun Sengupta to Bidhannagar) and 4 stations in Joka-Majerhat Corridor (from Behala Bazar - Mominpur) of Metro Railway Kolkata, West Bengal, India. (Rs 68.84 crore)

•    Ground Improvement of bad formation location between Bapatla and Appikatla stations (Km.359/8-363/10) of BZA-GDR section by Construction of stone columns including supply of stone material for the proposed 3rd line in Vijayawada Division - Issue of Notification of Award - Reg. (Rs 68.20 crore)

•    Package 2 - Construction of Roadbed, bridges, service building, Quarters, FOB, LC work including associated S & T works for shifting of cables and General Electrical work in connection with Railway doubling line between SANKVAL TO VASCO-DA-GAM A OF HOSAPETE -VASCO-DA-GAMA doubling project in the State of Goa, INDIA. (Rs 65.79 crore)

•    Package 1 - Construction of Roadbed, bridges, service building, Quarters, FOB, LC work including associated S & T works for shifting of cables and General Electrical work in connection with Railway doubling line between Majorda to Sankval of Hosapete - Vasco-da-Gama doubling project in the State of Goa, INDIA. (Rs 64.93 crore)

•    Balance works at Narsapur, Chintaparu & Lankalakoderu stations, LC gate diversion and other left over works of doubling of Bhimavaram-Narsapur section in connection with doubling of BVRM-NS section on Vijayawada Division of South Central Railway in Andhra Pradesh State, India - Issue of Notification of Award -Reg. (Rs 56.03 crore)

•    Supply, Erection, Testing & Commissioning of 25 Kv, 50HZ Single Phase Traction Overhead Equipment and Switching stations between Sections Fakiragram - New Bongaigaon (excluding) in Alipurduar Division (35km/90 Tkm) in the state of Assam, India (Rs 51.60 crore)

•    Balance Misc. Civil works of Earthwork, Blanketing, Bridges, Drains in cuttings, LCs etc. between Piprai Gaon & Orr (including Yards)

including widening of Formation of ASKN-Pipraigaon, Extension of FOB at Ashoknagar, Passenger Platform and COP at Pipraigaon & Rehatwas, including Leftover Works of Staff Quarters at Ashoknagar Shahdoragaon and Piraigaon of ASKN (Km 1049.575) - PIA (Km 1023.406) Section, Total 26.169 kms, of BINA - KoTa Doubling Package III work (Rs 45.87crore)

•    Package 2: Manufacture and supply of curved switches with ZU-1-60 thick web tongue rail and UIC 60 kg/m (Grade 880, Class A/B) stock rails conforming to Indian Railway Specifications IRS-T-10-2000 (read along with latest amendments) for various railroad projects in different regions of India - in Two Packages (Rs 45.62 crore)

•    Package 1: Manufacture and supply of curved switches with ZU-1-60 thick web tongue rail and UIC 60 kg/m (Grade 880, Class A/B) stock rails conforming to Indian Railway Specifications IRS-T-10-2000 (read along with latest amendments) for various railroad projects in different regions of India - in Two Packages (Rs 39.78 crore)

•    “Construction of road bed. balance work of minor bridges. P way Supply & Track linking (excl. welding) works from Section Salpura (Incl. km 108.650) to Bhulon (excl. km 135.704) = total 27.054 km in connection with doubling between Kota and Bina (282576 Kms) on Kota division of West Central ‘Railway in the state of Rajasthan & Madhya Pradesh, India (Rs 38.40 crore)

•    Balance work for Behala Bazar and Taratala Metro Stations and OCC building side of Majerhat Metro Station of Joka-Esplanade Metro Project in Kolkata in the state of West Bengal. (Rs 37.86 crore)

•    Balance doubling works (Civil) between Bhimavaram and Veeravasaram Stations of Bhimavaram-Narsapur Section in connection with doubling of BVRM-NS Section of Vijayawada Division of South Central Railway in Andhra Pradesh -Issue of Notification of Award - Reg. (Rs 35.01 crore)

•    Construction of Limited Height Subways including RCC Npx (by cast-in-situ method), retaining wall, covered road on approaches,

drainage arrangement with provisions of recharge pit with bores, installation of height gauges and other ancillary works for elimination of Level Crossing No.159, 162, 164A, 169, 172 (total 06 nos) in Mailani Jn to Shahgarh Section in connection with gauge conversion work in Mailani-Pillibhit Section on Izzatnagar Division of North Eastern Railway, in Pillibhit District of Uttar Pradesh, being executed under CPM-I/ RVNL/Lucknow (Rs 28.26 crore)

•    Execution of supply of track ballast for construction of 3rd rail line between Garhwa Road and Patratu in connection with Third line between Sonnagar and Patratu under Dhanbad Division of East Central Railway in Jharkhand State, India (Rs 26.85 crore)

•    Construction of Bridge No.287/A[Ch. 103.825] on NH 566& ROB No.289/A[Ch.104.975] on State Highway 366 for Doubling of Majorda to Vasco section of HPT-VSG in the State of Goa (Rs 24.94 crore)

•    Construction of Limited Height Subways including RCC Npx (by cast-in-situ method), retaining wall, covered road on approaches, drainage arrangement with provisions of recharge pit with bores, installation of height gauges and other ancillary works for elimination of Level Crossing No.175, 178, 183, 183C, 184 and 186 (total 06 nos) in Mailani Jn to Shahgarh Section in connection with gauge conversion work in Mailani-Pillibhit Section on Izzatnagar Division of North Eastern Railway, in Pillibhit District of Uttar Pradesh, being executed under CPM-I/ RVNL/Lucknow (Rs 23.19 crore)

•    Design, Supply, Erection, Testing & Commissioning of SCADA FOR 33 KV Power Distribution, Traction substations, Auxiliary Substations and 750 V DC Third Rail Traction System for Joka-Majerhat and Airport - New Garia corridors of Metro Railway Kolkata, West Bengal, India (Rs 19.48 crore)

•    Execution of balance works for construction of minor bridges between Jaroli and Porjanpur in connection with doubling between Jaroli (Incl.) snf Jakhapura (Incl.) (170.903) on Khurda Road division of East Coast Railway and Chakradharpur Division of South Eastern Railway in the State of Odisha, India (Rs 18.89 crore)

•    Supply & Execution of S&T works for ‘R-RVH’ doubling with replacement of East & West cabin panel by provision of distributed EI with centralized operation by dual VDU of Raipur yard and phase working of RVH with alteration in existing EI in the Raipur Division of South East Central Railway In Chhattisgarh State, India (Rs 17.94 crore)

•    Construction of Assistant Officers and In-charge subordinate offices along with other associated allied works at various stations of Palanput-Samakhiyali Section to cater requirement of enhanced maintenance cadre of officers and supervisors in connection with Palanpur-Samakhiyali Doubling Project in Ahmedabad Division of Western Railway, Gujarat, India (Rs 17.54 crore)

•    Supply, Installation, Testing and commissioning of Indoor and Outdoor Signalling works for provision of New PI installation at Bondanar, Taroli and alteration of existing PI at Antagarh station, and supply, installation, Testing and Commissioning of Indoor and Outdoor Telecom works (i.e. from 58.80 km to 78.45 km, Total Length 27.65 km) in connection with DRZ-ROW New Line Project in Raipur division of SECR in Chhattisgarh State, India (Rs 17.53 crore)

•    Construction of LHS/RUB by pushing method at 02 Nos. Level crossings situated in yards (LCNo-127 & 142) along with covered shed in approaches and other ancillary works between RBL-AME section under Lucknow Division of Northern Railway (Rs 16.05 crore)

•    Work of railway track linking, Supply of GLUED insulated joints, CMS crossing (Excluding supply of rails, sleepers and Ballast) including supply of special sleepers and SEJs etc. for Antagarh - Taroki section (60.6 km to 78 km) in connection with a new rail link between Dallirajhara and Rowghat in Raipur Division of South East Central Railway in the state of Chhattisgarh, India - Reg. Notification of Award (Rs 16.03 crore)

•    Execution of Signal & Telecommunication Works in connection with provision of MSDAC at BHIMAVARAM Station in Vijaywada Division of South Central Railway, Andhra Pradesh State, India -Reg (Rs 15.58 crore)

•    Package-ANS-2/1:    Balance Work of

Gudur Jn & Vijayawada Jn (Krishna Canal Jn) in Vijayawada Division of S.C.Railway, in the State of Andhra Pradesh, India (Rs 10.99 crore)

•    Proposed Doubling between Bhimavaram Jn. (Excluding) - Narsapur “Supply, execution and commissioning of outdoor signalling and telecommunication works between BVRM-NS section of Vijayawada division in South Central Railway (Rs 10.98 crore)

•    Proposed Track works in connection with Remodelling of Krishna Canal Junction yard of Vijayawada division of South Central Railway. - Issue of Notification of Award- Reg (Rs 10.97 crore)

•    • Execution of Miscellaneous Civil Works in Hospet-Harlapyr Section (Package 1) and Harlapur-Hebsur Section & Dharwad - Hubli (Package 2) pertaining to Railway Electrification in Hubli Division of South Western Railway (Rs 9.57 crore)

•    Construction of FOBs at Chandisar, Disa and Lorwada stations along with various miscellaneous works requried to facilitate and complete their construction in connection with PALANPUR-SAMAKHIYALI doubling project in Ahmedabad Division of Western Railway in Gujarat, India (Rs 9.35 crore)

•    Providing essential facilities for disposal of storm water at Limited Height Subways and balance miscellaneous safety work of the Major Bridges in Pkg - II (in light of the concluded monsoon effect) for completing the Last Mile Activities for commissioning Ahmedabad -Botad Gauge Conversion Section in Bhavnagar Division of Western Railway, Gujarat, India (Rs 9.32 crore)

•    Proposed    3rd line    between    Gudur -

Vijayawada: Gudur - Bitragunta Section : Execution of Addition/Alteration in existing Electronic Interlocking (EI) system of “Medha Make” including Design, Supply, Erection, Testing and Commissioning of Signalling and Telecommunication works in connection with proposed byepass line at Venkatachalam Road Junction of BZA Division of SC Railway in State of Andhra Pradesh, India. (Rs 8.92 crore)

•    Execution of P.Way Works o Tinaighat-Castlerock section (Rs 8.71crore)

 

Architectural Finishing (other than Structural Concrete and Structural Steel Work) of Barun Sengupta Station for Kavi Subhas - Biman Bandar Metro Corridor. (Rs 15.37 crore)

•    Balance P.Way Works and ancillary Civil works required for commissioning of Ahmedabad-Botad Gauge conversion Section in Bhavnagar Division of Western Railway, Gujarat, India (Rs14.98 crore)

•    Construction of New Control Office and Tunnel Control Centre in the campus of DRM Office in Moradabad. (Rs 14.05 crore)

•    Execution of Signal & Telecommunication Works in connection with provision of MSDAC at NIDADAVOLU Station in Vijaywada Division of South Central Railway, Andhra Pradesh State, India -Reg (Rs 14.o0 crore)

•    “Design, Supply, Erection, Testing and Commissioning of Indoor & Outdoor Signalling Works At Belgavi Station In Connection With Yard Remodeling/ Doubling Work At Belgavi Yard Of Hubbali Division Of South Western Railway In Belgavi District Of Karnataka State, India” (Rs 13.17 crore)

•    Provision of Passenger amenities work at Gandhigram station including fagade works, pedestrian pathway, Duty bunk at LCs, S&T earth pit and other miscellaneous works required for commissioning of EI at stations of Package 1 & II and other miscellaneous works for commissioning of Ahmedabad-Botad Gauge Conversion section in Bhavnagar Division of Western Railway, Gujarat, India (Rs 12.94 crore)

•    Execution of    blanketing    work    with

mechanical compaction in formation between Doodhiyakhurd (ex) - Puranpur (ex) and Puranpur (ex) - Shahgarh (ex) block sections in connection with Mallani-Pilliphit Gauge conversion work on Izzatnagar Division of North Eastern Railway, in Pillibhit District of Uttar Pradesh, being executed under CPM-I/ RVNL/Lucknow (Rs 12.82 crore)

•    Design,    Supply, Erection,    Testing &

Commissioning of 25 KV a.c., 50 Hz, Single Phase, Traction Over Head Equipment (Tkm:8.02) and associated yard modification works at Krishna Canal Junction in connection with 3rd BG Line with Electrification between

•    Execution of Toe Protection work, Trolley refuge repair, cess repair and other Misc.work of formation from Kendrapara (Km 42,040) to Dumuka (Km 57.060) in connection with HDS-PRDP New BG Rail Link Project in jurisdiction of Khurda Division of E.Co.Railway in the State of Odisha. (Rs5.99crore)

•    Construction of Station Buildings, Service Buildings and other miscellaneous works at Jaroli and Nayagarh Stations in connection with Jaroli - Jakhapura doubling project under Khurda Road Division of East Coast Railway and Chakradharpur Division of South Eastern Railway in the State of Odisha, India. (Rs5.15crore)

•    Construction of Staff Quarters at Mancheswar Station, Extension of Existing FOB and construction of New FOB at Vani Vihar Station in connection with Construction of Third Line between Barang and Khurda of East Coast Railway in Odisha State, India (Rs5.09crore)

•    Installation of balance Turnouts, Derailing Switches, Manual Packing and surfacing for Track Machine, providing of guard rails, Check rails and completing other urgent and essential last mile P.way works in the Ahmedabad City area (From CH:0.00 to 23.40 Kms) in Package - 1 for Commissioning of Ahmedabad Botad Gauge Conversion Section in Bhavnagar Division of Western Railway, Gujarat, India (Rs 4.98crore)

•    Execution of Safety as well as CRS Inspection related urgent works like inspection steps, Bridge tab, CC Pitching etc. on bridges, Commissioning of Level Crossings as per BG Standard, Installation of hectometre & Railway land boundary Post, Slope Correction and cess repairing and completing other urgent and essential last mile miscellaneous work related to CRS Inspection in Sarkhej-Kothgangad (Package - 1) Section for Commissioning of Ahmedabad - Botad Gauge conversion Section in Bhavnagar Division of Western Railway, Gujarat, India (Rs 4.80crore)

•    Construction of Br-97, Earthwork/Blanketing on approach of Br. 94, 96, 98 and balance retaining wall upto 200m on approach of Br.98 between

 

•    Balance S&T outdoor & indoor work for Construction of 2nd Railway Line from existing take off point within HDC KOPT’s limit to G cabin at Bulk Handling Yard, Haldia Dock Complex on Kharagpur Divison of South Eastern Railway in West Bengal, India (Rs 8.61 crore)

•    Construction of various Service Buildings like ADEN office, SSE/Bridge office & Store, SSE/P. WAY office & store & goomties etc., Colony Roads and other ancillary works related to Service buildings including General Electrification works at various stations in between TIG-THV of Sambalpur Division, East Coast Railway in connection with 3rd line project works. (Rs 8.49 crore)

•    Supply, Installation, Testing & commissioning and Integration of Automatic Fare collection (AFC) system in connection with existing Kolkata Metro Extension work between Naopara-Dakshineshwar Metro Station of Kolkata Metro Railway in West Bengal, India (Rs 7.99 crore)

•    Construction of Service Buildings at Narsapur Station and any other works in connection with doubling of bVrM-NS section on Vijayawada Division of Southern Railway in Andhra Pradesh State, India - Issue of Notification of Award -Reg. (Rs7.37crore)

•    Execution of work for Formation Cutting between Ch:6560 to Ch.6920 & Ch.21200 to Ch.21480 including drains and other misc. works between Ch.6400 to Ch.6920 and Ch.21200 to Ch.21480 at JRLI to PRNR section in connection with Jaroli Jakhapura doubling project under Khurda Road Division of East Coast Railway and Chakradharpur Division of South Eastern Railway in the State of Odisha, India. (Rs7.28crore)

•    Execution of P-way work in SGAC Kota & BON-BAZ Section of Pkg 1 in c/w Bina-Kota Doubling railway project (Rs7.19crore)

•    Execution of Signal and Telecommunication works in connection with revised SIP at Kaldhari Station on Vijaywada Division of South Central Railway, Andhra Pradesh State. India (Rs7.03crore)

•    Notification of Award for “Construction of Bridge no- 100, 123A Ext, 124 Ext, 125 Ext,138, 142, 143 Ext, 144 ,147, 1081/1 between SYL-RTA

•    Balance Earthwork & Blanketing work from Sundlak to Baran in C/W Bina—Kota doubling Railway Project. (Rs 4.24crore)

•    Construction of Borewells, Sump with Pump house, RCC Overhead water tanks at Disa and Chandisar Stations, with water supply and sanitary installations, level crossings circulating area development with water supply arrangements, repair and painting of existing buildings and platforms along with various miscellaneous petty leftover works in staff colonies of Palanpur - Bhildi section a part of Palanpur-Samakhiyali doubling project in Ahemedabad Division of Western Railway Gujarat, India. (Rs 3.91crore)

•    Construction of Sports Ground & other ancillary works at Srikot (Srinagar) in lieu of existing GNTI Ground at Srinagar in connection with Rishikesh - Karanprayag New Rail link Project. (Rs 3.83crore)

•    Proposed doubling of track between Vanchi Maniyachchi and Nagercoil Stations - Construction of service / residential buildings, modification of existing structurers, augmentation of existing circulating area etc. in various stations situated in the Vanchi Maniyachchi and Nagercoil section (Rs 3.49crore)

•    Construction of Platform and Passenger Amenities Work, Water Booth & shelter at Pagara station in c/w Kota-Bina Doubling Project (Rs 3.46crore)

•    Construction of FOB at BRAG station, and provision of wind tie at BBSN station in connection with construction of third line between Barang and Khurda Road Division of East Coast Railway (Rs3.45crore)

•    Manufacture & Supplying of PSC turnout sleepers at work site as per Drg. No.T-6068, T-4218, T-4865, T-4149, T-5691 for Belgaum & Castlerock (Rs 3.27crore)

•    Laying, Linking and Renewal of BG Track including supply and dumping of Ramavarapadu yard track relaying in connection with doubling between BZA-UPL of South Central Railway Vijayawada Division, Andhra Pradesh State, India (Rs 3.24crore)

 

•    Additional works of construction for provision of additional passenger loop line track and remodelling of RMV & NDM yard layouts for doubling works - Issue of Notification of Award - Reg. (Rs 3.06crore)

•    Design, Installation, Supply, Testing and Commissioning for modification in existing Electronic Interlocking system (Kyosan make) at Kota station in West Central Railway for Kota-Bina Doubling Project. (Rs 2.91crore)

•    Execution of Toe protection work, trolley refuge repair, cess repair and other Misc. works of formation from Lalitgiri Yard (excluding) to Bajipada yard (excluding) in connection with hDs-PrDp New BG Rail Link Project in jurisdiction of Khurda Division of E. Co Railway in the State of Odisha (Rs 2.70crore)

•    Execution of Toe protection work, trolley refuge repair, cess repair and other Misc. works of formation from Haridaspur to Lalitgiri Yard in connection with HDS-pRdP New BG Rail Link Project in jurisdiction of Khurda Division of East Coast Railway in the State of Odisha (Rs 2.66crore)

•    Execution of Toe Protection work trolley refuge repair, cess repair and other misc., works of formation from Bajipada yard (including) to Km 42.04 i/c/w HDS-PRDP New BG Rail Link Project in jurisdiction of Khurda Divison of E.Co. Railway in the State of Odisha (Rs 2.66crore)

•    Development of Unkal Railway Station with facility of Circulating Area, retaining wall and platform in Hubali Division of South Western Railway in the State of Karnataka. (Rs 2.64crore)

•    Manufacture and supply of CMS Crossings for Tinaighat-Vasco-da-Gama Doubling Section (Rs2.46crore)

•    SKV welding of 60 Kg, 52 kg rails as per RDSO Manuals for Salpura-Ruthiyai, Guna - PIGT & Ashoknagar -Bina Section in connection with Kota-Bina doubling Project (Rs2.46crore)

•    Development of Navalur Railway Station with facility of Circulating Area, retaining wall and platform in Hubali Division of South Western Railway in the State of Karnataka. (Rs2.40crore)

•    Manufacture and supplying PSC turnout sleepers and approach sleepers for fan shaped layout of 60 Kg 1 in 12 turnouts for BG for Tinaighat-Vasco-da-Gama Doubling Section (Rs2.39crore)

•    Additional works of construction for new FCI siding line track at Gudivada Junction yard including remodelling of yard layouts for doubling works - Issue of Notification of Award - Reg. (Rs2.39crore)

•    Construction of TM siding platform, toilet on TM siding platform, approach road to TM sidings and other miscellaneous works at Sitabinj, Harichandanpur, Sagadapata and Baghapal station of Jaroli-Jakhapura doubling project of East Coast Railway in the State of Odisha, India (Rs2.13crore)

•    Fabrication and supply of O.R.curved fan shaped switches for 1 in 12 & 1 in 8.5 Turnouts for BG 60 Kg on PSC Sleepers to RDSO Drawings with latest alterations if any complete with Stock Rail of 60 Kg (Grade 880) Conforming to Indian Railways Specifications IRS-T-10-2000 (READ ALONG WITH LATEST AMENDMENTS) and all parts including check rails as listed in the drawing, but excluding, Grooved Rubber Sole Plates, Insulating liners, Elastic Rail Clips, Plate screws, Fish Plates and Fish Bolts for RPJ-BTI Doubling Project in Package 1,2 & 3 in Ambala Division of Northern Railway, Punjab, India (Rs2.04crore)

•    Fabrication, Erection and Launching of 3m wide New Foot Over Bridge at Kunuwadi Station between proposed PF 1 & 2 including staircase, connection with existing and new FOB, launching and dismantling of old FOB in connection with doubling of Daund-Kalaburagi Section, Solapur Division, Central Railway, Maharashtra (Rs1.85crore)

•    Supply, Installation, Testing & commissioning of Electronic Interlocking System at New Shirsai Block Cabin Station in connection with material modification for Daund-Baramati Section in Pune Division of Central Railway in State of Maharashtra, India (Rs1.53crore)

•    Execution of Construction of Platform flooring concrete and miscellaneous work from Chandikhole to Bajipapda in connection with HDS-PRDP New BG Rail Link Project in jurisdiction of Khurda Division of E.Co.Railway in the State of Odisha (Rs1.46crore)

•    Supply of 10000 cum Ballast from Km 30 to 37 Km in c/w Bina-Kota Doubling Railway Project (Rs1.43crore)

•    Supply of 10000 cum Ballast from Km 33 to 54 Km in c/w Bina-Kota Doubling Railway Project (Rs1.40crore)

•    Provision of Rail Fencing and disposal of Building Rubbish/Malba/similar unserviceable, dismantled or waste materials by mechanical means in Ahmedabad City area and additional finishing work on RCC Box segment joints of precast, RCC Box segment of Minor bridges and LHS by providing Polymer based Cement mortar paste for commissioning of Ahmedabad -Botad Gauge Conversion Section in Bhavnagar Division of Western Railway, Gujarat, India (Rs 1.39 crore)

•    Proposed Repairs to bank and bridges protective works between Hubali and Gadag Section in Hubali Division of South Western Railway in the State of Karnataka. (Rs 1.34 crore)

•    Manufacture and supplying of fish plates for Tinaighat-Vasco-da-Gama doubling section (Rs 1.20 crore)

•    Supply of 5000 cum Ballast from Km 30 to 37 Km in c/w Bina-Kota Doubling Railway Project (Rs 0.71 crore)

•    Supply of 5000 cum Ballast from Km 48 to 54 Km in c/w Bina-Kota Doubling Railway Project (Rs 0.65 crore)

•    Manufacture and supply of CMS Crossings for Tinaighat-Vasco-da-Gama Doubling Section (Rs 0.34 crore)

•    Besides these works contract, FLS, DDE & PMC contracts of Rs 153.54 crores have also been awarded during 2020-21.

1. PROJECT PLANNING & DEVELOPMENT

1.1. PUBLIC PRIVATE PARTNERSHIP (PPP) in Indian Railway Connectivity Projects Detailed Status of SPVs

As a part of the mandate of Rail Vikas Nigam Limited (RVNL) to undertake project development, mobilization of financial resources and to implement projects pertaining to strengthening of Golden Quadrilateral and better connectivity to various ports, six Special Purpose Vehicles (SPVs) as Joint Ventures (JVs) have been created. RVNL has a minimum equity participation of 26 percent in each one of these SPVs.

Through these SPVs, RVNL has been able to mobilize a cumulative investment of Rs 7762.82 crore out of which Rs 2996.18 crore is equity and Rs 4766.64 crore is debt. RVNL itself has invested a total of Rs 1074.42 crore as equity in these 6 SPVs, which is approximately 13.84% of their Gross total investment

New Rail Connectivity from Pachwara Coal Blocks to Nagarnabi (48 Kms)

•    In Pachwara coal block of Rajmahal coal belt, Ministry of Coal had allotted coal blocks to the West Bengal Power Development Corporation, Punjab State Power Corporation Ltd. And Neyveli Uttar Pradesh Power Ltd.. These coal blocks are about 50 Kms from Pakur and at present not connected with rail.

•    Rail connectivity will facilitate movement of Coal from Pachwara Coal Blocks to Power plants of Punjab, UP and WB. Projected peak traffic would be (30.4 MTPA) 23 rakes per day in FY-2030.

New Rail Connectivity from Sardega to Pelma under Participative Policy of MoR.

• Sardega to Pelma rail connectivity is essential for evacuation of coal of MCL (Basundhara), WCL (New block of RGB Project:- Rampiya, Goghapalli, Bijhari) and SECL (Mand-Raigarh). Coal from Basundhara Area of MCL to northern and Western part of India will move from Sardega to Pendra via Jharsuguda & Bilaspur. It will decongest saturated Jharsuguda to Bilaspur (Howrah-Mumbai Trunk route) and

Bilaspur to Pendra route. Further, it will provide alternate route with reduction of travel distance by about 75 Km.

•    Projections of coal from Mand-Raigarh coalfields (CIL) - 7 MT (2029-30).

•    Projections of Coal from Basundhara coalfields (CIL Blocks) - 97 MT (2029-30).

•    Techno-feasibility study is under progress by MCL due to cancellation of 3 coal blocks of CIL.

4. PERSONNEL DEVELOPMENT

RVNL recognises the importance of having a pool of committed and motivated employees as they are the most important asset of RVNL. RVNL envisages a lean organization with need-based deployment of staff. As RVNL is mandated to execute only Railway projects on behalf of Ministry of Railways, the requirement of personnel with requisite experience and domain knowledge in railway working is largely met by drafting employees from Railways and other Government Departments on deputation basis. RVNL has also a small cadre of its own created by absorbing willing employees from Railways and PSUs. As on 31.03.2021, the on-roll strength of the company stood at 208 regular employees and 360 deputationists. RVNL possesses one of the finest pool of technical manpower for creation of rail infrastructure.

RVNL has attractive and employee-friendly policies to boost the morale and motivate the employees to perform to the best of their abilities. The main thrust of the HR policy is to ensure that the manpower resources is able to adapt to the changing business priorities and to play a role as a strategic business partner in the growth of the organization. This has been made possible by hiring of employees with relevant experience and capabilities and further development through intensive training programmes. As a part of this philosophy, employees are nominated to various training programmes and seminars not only relevant to their job requirements but also to enhance their overall capabilities. In line with the Government instructions on Covid-19, the training programmes were arranged through Webinar and VC.

RVNL recognises the services of meritorious employees through individual/group Awards by presenting shields and cash awards. Besides awarding 19 individual employees and 11 Group Awards during the year 2019-20, 09 shields/cash awards were presented to the following Project Implementation Units for their excellent performance: -

i)	Special Project Shield (for fastest commissioning)	- PIU, Chennai
ii)	Best PIU in Workshop Project	- WAT-1 (Vadlapudi)
iii)	Best PIU in Signalling Work	- Secunderabad/S&T
iv)	Best PIU in RE Project	- Lucknow RE
v)	Best PIU for Commissioning Projects	- Bangalore
vi)	Best Project	- IRIFM/Secunderabad
vii)	Maximum Expenditure Award	- PIU,Ahmedabad
viii)	Runners up PIU	- Ahmedabad
ix)	Best PIU	- Secunderabad

Welfare:

In the wake of Covid-19 pandemic and nationwide lockdown, RVNL conducted many welfare programmes, such as, Covid Testing camp, Vaccination Camp, Emergency Control room,First-aid facility equipped with medical beds, oxygen concentrators, covid medicines, etc. at Corporate Office and PIUs for the welfare of employees. As a welfare measure, the Company provides free consultation services of Doctors in Allopathy and Homeopathy systems of treatment in the Corporate Office premises to cater to the medical needs of the employees and their families.

5.1    INDUSTRIAL RELATIONS

During the year, Industrial Relations remained cordial and harmonious . All efforts were made to keep employees and family safe by complying with the extensive safety protocols in Corporate Office and across all Project Implementations Units(PIUs) in the wake of outbreak of COVID-19. As a welfare measure to the employees , services of Allopathic and Homeo Physician are made available in the Corporate Office.

5.2    Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013.

The RVNL Conduct and Discipline Rules are in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. An Internal Complaints Committee called “Vishaka Committee” has been set up in RVNL to redress complaints received regarding sexual harassment . All employees are

covered under this policy. The following is a summary of sexual harassment complaints received and disposed off during the calendar year:-

i)    No. of complaints received    :    Nil

ii)    No. of complaints disposed of    :    Nil

5.3    Right to Information Act

Right to Information Act, 2005 has been implemented in RVNL as per the Government guidelines. The provisions of the Right to Information Act are followed diligently in letter and spirit and timely responses are given to all queries The Company has nominated Appellate Authority, Central Public Information Officer and Asstt. Public Information Officer at the Corporate Office and Asstt.Public Information Officer for each PIU. During the year 2020-21, 242 applications were received. Out of which, 227 applications were disposed off and 15 has been rejected.

5.4    Rajbhasha (Official Language)

The Company has been making concerted efforts to implement the directives of the Government of India on use of Rajbhasha (Official Language). The Rajbhasha Department of the Company has a parttime Mukhya and Up-Mukhya Rajbhasha Adhikari and a regular Deputy General Manager (Rajbhasha). All the computers in the Corporate Office have been provided with Unicode compliant software and fonts to facilitate access to common templates in Devnagari. To encourage use of Rajbhasha, officials who use Rajbhasha in drafting notes and letters are identified from each department and given Shankar Dayal Singh Smriti Puraskar. A competition on Hindi essay writing, Hindi noting and drafting, Hindi Shabd

Gyan and Quiz Competition was organised on the occasion of Hindi Divas Pakhwara in the month of September, 2020. Cash awards of Rs. 70,100/-were distributed to 54 successful participants. The Company has also set up a reading room-cum-library in the Corporate Office with a good collection of books, newspapers and periodicals in Hindi. During 2020-21, 4 meetings of the Rajabhasha Implementation Committee of RVNL were held with the representatives of Rajbhasha Directorate of Railway Board. Parliamentary Committee on Official Language inspected the working of Hindi in RVNL’s Corporate Office on 11.12.2020 and expressed satisfaction regarding usage of Rajbhasha in Official working.

5.5 Presidential Directives:

In response to a proposal for introduction of RVNL Employees’ Contributory Pension Scheme, 2017, Ministry of Railways communicated Presidential sanction vide letter No. 2020/PL/52/11 dated 25-03-2021.

6. Vigilance

During the year 2020-21, the Vigilance Department in RVNL was manned by a Chief Vigilance Officer, GGM/Vigilance (Part time), three Sr. DGMs/Vigilance and one Sr. Manager /Vigilance. In the month of March, 2021, in place of GGM/Vigilance who was repatriated after completion of deputation tenure, an ED level officer was posted in his place and given additional charge of Vigilance work.

RVNL Vigilance functions with a dominant focus on preventive approach towards strengthening transparency in the systems, work procedures and accountability. Besides examining the allegations in the complaints received, it also carries out preventive checks and inspections. The findings of these investigations/inspections are communicated to the Management for suitable action including system improvements, wherever required. The corrective actions for deficiencies/lapses noticed during the inspections/preventive checks are also ensured.

During the year 2020-21, focus was made to finalise/ conclude the pending observations by vigorously pursuing the concerned authorities/RVNL field units for their comments/action taken. Moreover, observations made during earlier CTE/CTE Type inspections were followed up and replies on paras pertaining to various CTE inspections were sent to CTE/CVC.

System Improvements:

Based on the observations during various inspections / checks, RVNL Vigilance makes certain recommendations for system improvements. Based on Vigilance’s recommendations, following action for System Improvements were taken:

•    Management was recommended to make some penalty provision besides recovery of the premium saved for not taking mandatory insurance policies for any period of time. Project Department has made changes in the provisions of SBD with respect to general requirements for insurances. These provisions, inter-alia, mention if the insuring party fails to effect and keep in force any of the mandatory insurances under the contract, the other party may effect insurance for the relevant coverage and pay the premiums due. In lieu of this, the insuring party shall pay double the amount of these premiums to the other party.

•    RVNL Vigilance recommended for issuing the instructions that in case of any change in the deployment of equipment vis-a-vis contract agreement, the records about the same shall be maintained properly while following scrupulously provisions in the contract agreement. Amendment has been made in the SBD incorporating the changes in this regard and instructions have been issued to all the PlUs.

•    Instructions were issued to all concerned that for doing work on areas which are continuously used by passengers like platforms, circulating area, work should be done under block segregating the area and the same should only be lifted after proper curing and gaining of sufficient strength to withstand movement of passengers.

•    Instructions were reiterated to all concerned to consider all aspects while framing the tender schedules for proper estimation

•    All the field units of RVNL were advised for timely recovery of repayable amount of interest on mobilisation advance from the contractor.

•    Instructions were issued to all Project Implementation Units of RVNL to check mandatory insurance policies before passing of bills. It has also been advised to ensure proper upkeep of all documents and reports.

•    Instructions were issued to all concerned for

 

doing extension of Bank Guarantees (BGs) well before the expiry of validity period and the custodians of BGs have been given responsibility in this regard.

•    Instructions were reiterated for maintainig log booka sheets for vehicles on day to day basics and following other relevant instructions in this regard.

•    Instructions were issued to all concerned for taking timely action for payment to the contractor so that progress of work is not hampered.

•    Instructions were issued for timely signing of the contract agreement. It has also been advised to check thoroughly the contractual conditions especially having direct financial implications.

Investigations:

The complaints received by Vigilance from time to time were dealt with as per prescribed procedure by CVC & DOPT. During the year, twelve complaints were taken up for investigation. Vigilance sent their observations/recommendations to the concerned departments for further clarification/action taken.

Disciplinary Action:

During the period, Major Penalty Proceedings’ advice against a gazetted and a non-gazetted Railway officials on deputation to RVNL in two different cases was received from Railway Board Vigilance. The cases are relating to their working in Zonal Railways and were investigated by the Railways. HR Department was advised to take further action in the matter. Further, Administrative action was taken against four officers in six different cases on the advice of CVC/Railway Board Vigilance. Four of these cases (two each) pertain to two officers. The cases are pertaining to their working in Zonal Railways. Three officials in three different PlUs were given counselling on the recommendations of RVNL Vigilance.

An appeal was made by an officer who had been imposed Minor Penalty of ‘Censure’ in accordance with CVC’s advice. The appeal was rejected by the Appellate Authority.

In addition to the above, a Major Penalty case against an officer is under inquiry. Further, there are also two Major Penalty Proceedings cases against an officer in two (CVC) vigilance cases. Both these cases pertain to his previous working in Zonal Railway. The matter was returned to Zonal Railway for further action as RVNL was not competent to

issue charge memorandum to the officer. Railway Board has since decided that the officer may be continued in RVNL on non-sensitive post and major penalty proceedings be initiated by the concerned Zonal Railway. Further progress in the matter is awaited.

Periodic Reports to CVC/Railway Board:

The status of various matters namely inspections, complaints, disciplinary cases and miscellaneous matters was regularly apprised to CVC/Railway Board through periodic quarterly and annual reports. The progress of Vigilance work from October, 2019 to March, 2020 and from April, 2020 to September, 2020 was also reviewed by Board of Directors.

Vigilance Awareness Week:

During ‘Vigilance Awareness Week-2020’ which was celebrated from 27th October 2020 to 2nd November 2020, RVNL Vigilance conducted various activities like taking of Integrity Pledge, workshop on vigilance aspects, a quiz for generating awareness, an inhouse Vigilance Bulletin in digital form (e-bulletin) etc. There was wide participation through on-line mode in all these activities.

7. MEMORANDUM OF UNDERSTANDING

The Company is expecting to secure a rating of “Excellent” by Department of Public Enterprises for the year 2019-20 on the basis of the achievement of the committed targets fixed in the Memorandum of Understanding signed between RVNL and Ministry of Railways. This will be the tenth consecutive year for which the Company would be rated as “Excellent”.

In 2020-21, the Company has been able to achieve the targets set in the MoU and even surpassed them. RVNL completed Gauge Conversion of 181.57 km and Doubling of 636.08 km, totalling to 817.65 km against a target of 800 km for “Excellent” under “Completion of Doubling/New Line/Gauge Conversion parameter. Under “Completion of doubling of 60 km railway line by Kutch Railway Company Limited”, 65.66 km doubling of Railway line under the project Palanpur-Samakhiali was completed. Under “Capacity Utilization” parameter, completion of 1340 km Railway Electrification was achieved against a target of 1300 km for “Excellent”. Under “Completion of Client Order milestone without time overrun”, 78.94 km project length was completed in Sambalpur-Titlagarh Dl (26.05 km), Bina - Kota DL (26.34 km) and Varanasi-Madhosingh-Allahabad DL (26.55 km) before the timeline target of 31.12.2020

 

and Latur- Setting up of coach manufacturing factory known as Marathwada Rail Coach Factory under Central Railway was completed on 25.12.2020. ahead of schedule. The Company was also able to meet the targets for all financial, enterprise specific and other parameters set in the MoU for 2020-21. Accordingly, the Company is expecting to achieve an “Excellent” rating for 2020-21 as well.

8. PARTICULARS RELATING TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO ETC.

8.1 Conservation of Energy and Technology Absorption

RVNL is conscious of the limited nature of conventional sources and the importance of using

our energy resources wisely. The Company has been consistently laying emphasis on utilizing energy efficient equipment in its office premises and in various projects so as to minimally affect on the ecology and environment . Initiatives taken to create awareness about conservation of energy among employees has resulted in a steady reduction in energy consumption at Corporate Office. Various environment friendly technology has been adopted in the Corporate Office building. Solar panels are installed at all Railway Stations and level crossings. LED lighting system also installed and wherever feasible, automatic sensor based lightings are installed.

8.2 Foreign Exchange Earnings and Outgo

The Foreign Exchange outgo during the year in terms of actual outflows as compared to previous year are mentioned below:

(' in crores)
Particulars	2020-21	2019-20
Import of Material	37.09	-
Foreign Exchange on foreign travel of Company’s officials	.09	0.37
Project Management Consultancy	-	0.17
Membership Fee	0.07	-

9. RISK MANAGEMENT

RVNL has a formal Risk Management Policy duly approved by the Board of Directors. The Policy aims to review the exposure of RVNL to various risks and the mitigation measures to be taken periodically. It also strives to increase awareness among its employees and other stakeholders about possible risks and measures to control the same.

The Company has a Risk Management Committee under the chairmanship of Director (Projects) with all functional Directors as members and executive directors as special invitees.

The committee deliberated on the key challenges/ critical area of potential risk to the company and the following challenges/risks were identified:

a)    Delay in approval of drawings and changes in drawings/scope of work during the execution.

b)    Delay in land acquisition.

c)    Aggressive bidding by contractors leading to potential non performing contractors.

d)    Limited contractors for S&T and Electrical portion of projects is a risk in enhancement of

turnover.

e)    Shortage of Funds specially in the 2nd half of Financial Year.

f)    Rates in SBOQ in some schedules specially Electrical and S&T are not as per market conditions resulting in consistently receiving higher rates in tenders.

g)    With increasing workload of RVNL and non releasing of competent officers by Zonal Railway on deputations, risk of inadequate manpower with RVNL is increasing which may affect progress of projects and quality enforcement issues in project execution.

Following initiatives have been taken based on

the suggestions made by the Risk Management

Committee to overcome the above challenges on

pilot basis:

a)    A portal for online approval of drawings has been developed, which has been started.

b)    Instructions have been issued to Project Implementation Units that direct negotiations with land owners should be resorted to in case small quantity of land involving a few owners is

REGULATIONS, 2015 AND SECRETARIAL STANDARDS ISSUED BY ICSI

All the provisions of the Companies Act, 2013 and the Rules made thereunder, Secretarial Standards issued by ICSI and SEBI (LODR) Regulations, 2015 to the extent possible and applicable to the Company as well as all relevant notifications thereon issued by the Government of India, are being strictly complied with.

12.    COMPLIANCE OF DPE GUIDELINES AND POLICIES

All the guidelines and policies including guidelines having financial implications issued by Department of Public Enterprises from time to time are duly complied with by the Company.

13.    COMPLIANCE OF THE PUBLIC PROCUREMENT POLICY FOR MICRO AND SMALL ENTERPRISES (MSEs) ORDER, 2012

The Government of India has notified Public Procurement Policy for Micro and Small Enterprises (MSEs) Order, 2012 with effect from 1st April, 2012. As per the mandate of the Public Procurement Policy for Micro and Small Enterprises (MSEs) Order 2012, every Central Ministries/PSUs is required to set an annual target of minimum 25% procurement of goods & services from MSE Sector. Out of 25% annual procurement, a sub-target of 4% & 3% should be from MSEs owned by SC/ST and Women entrepreneurs, respectively.

Rail Vikas Nigam Ltd. (RVNL) has taken several steps for effective implementation of MSE policy. The benefits of waiver of cost of tender documents and deposit of earnest money, prescribed under the Policy, are incorporated in the tenders for stores procurement and obtaining services, etc.

Mrs. Anupam Ban, Executive Director/HR/CO is working as Nodal Officer and Shri Vivek Kumar, General Manager/P&CC/CO has been nominated as the Grievance Officer for seamless implementation of the MSE policy in RVNL. Contact details of these officers are uploaded on RVNL website.

Annual Procurement Plan for purchases from MSEs during the year 2020-21 was made available on RVNL website for information of MSEs and to help them participate in procurement of goods and services.

In the year 2020-21, RVNL procured goods and services amounting to a total of Rs. 22.13 crores. Out of this, the total value of goods and services

 

likely to become a bottleneck in commissioning of the section.

c)    Provision for submission of additional BG by the contractor has been introduced in standard bidding documents of RVNL to discourage the contractors quoting abnormally low rates and later on failing to execute the project.

d)    Qualification Criteria for S&T and OHE partners has been relaxed to develop more contractors

e)    Railway Board is being persuaded to allot more funds to RVNL.

f)    Revision of Standard Bill of Quantities to take into account the market rates and requirement of new items considering changes in technology has been initiated.

g)    The pay packages of contract employees has been improved to make it more attractive to aspirants and to retain talented and experienced staff.

h)    Timely termination and single execution agency should be done wherever feasible.

i)    Laying of pole foundation- with buried abutments, an initiative should taken recently, should be replicated.

j)    e-tendering has been started in order to improve transparency and expeditious decision making.

10.    CORPORATE SOCIAL RESPONSIBILITY (CSR)

The key philosophy of CSR, as enshrined in the policy, is to meet the following broad objectives:

1.    Implementation in project/programme mode

2.    Focus on periphery of project areas of RVNL

3.    Thrust areas of education and healthcare

4.    Inclusive growth of society with emphasis on development of weaker sections of society and in the backward districts of the country.

The Company has constituted Corporate Social Responsibility Committee (CSR) in line with the requirments of the Companies Act, 2013 and DPE Guidelines.The details with respects to composition, CSR Policy and CSR activities undertaken by the Company during F. Y 2020-21 are placed as Annexure C to this report.

11.    COMPLIANCE    OF PROVISIONS OF

COMPANIES ACT,    2013, SEBI (LODR) purchased from MSEs (including MSEs owned by SC/ST and Women entrepreneurs) was to the tune of Rs. 11.28 crores i.e 50.98% of the total procurement. Thus, RVNL has fully complied with the Public Procurement Policy for Micro and Small Enterprises (MSEs) Order, 2012.

14. RESEARCH AND DEVELOPMENT

Implementation of an Integrated IT Solution for RVNL

RVNL is utilizing a number of IT initiatives in order to automate the business processes of the organisation across employee services, office procedures, project management and vendor billings. Among the latest systems implemented, below are noteworthy accomplishments:

RVNL has now tied up Make My Trip (MMT) and Yatra for providing online travel bookings for RVNL employees. It provides employees a hassle free cashless booking facility at low and fixed rates, with priority check in, special rates for hotels etc.

RVNL Corporate Office and all Project Units have migrated to the e-Office developed by National Informatics Centre (NIC) under the National E-Governance Plan, furthering the paperless e-Office online file management for RVNL business and moving towards seamless coordination with Ministry in future. Alongside, an e-NoticeBoard has been provided to employees on the eOffice for publishing and discovery of Official Announcements, Office Notes, Procedure Orders, Office Orders and Circulars.

In order to tide over the lockdown and social distancing norms during the pandemic, RVNL has on-boarded Microsoft Office365 for remote collaboration, including video conferencing (through MS Teams). This helped the organisation keep its business on track despite difficult times.

e-APAR/IPR portal has been launched for completing automating performance appraisal and IPR declaration of all categories of RVNL employees, doing away with the previously partially manual system.

Sampark RVNL service - an employee engagement platform with mobile-first approach, was launched for employee grievance resolution, with special focus on enabling field staff to conveniently log their issues over mobile devices. The pilot was welcome by employees and the system was further upgraded

to allow internal workflows for resolution and user request status tracking.

The corporate website of RVNL has been completely revamped. Along with new branding experience, a host of user-friendly features has been made available to all stakeholders. The website is brand aligned, to help increase recall value of the company. Special focus has been given to Projects, ongoing as well as completed.

RVNL also in-house developed a digital toolset CDMMS (Construction Drawing Management and Monitoring System) for management of drawings and monitoring the status of work execution, by engineers and construction professionals. The system was successfully piloted for Noapara-Dakshineswar corridor of Kolkata Metro and presented to CCRS/ NR and further advancement in the system is being carried out.

15. DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the Directors confirm that -

a)    in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b)    the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

c)    the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d)    the Directors have prepared the annual accounts on a going concern basis.

e)    The Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively.

f)    the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

16. DIRECTORS AND KEY MANAGERIAL PERSONNEL

RVNL being a Government Company, the appointment of directors on its Board are done by the Ministry of Railways, Govt. of India from time to time.

On the date of report, the strength of the Board of the Company comprises of eight (8) Directors, out of which Five (5) are whole-time Directors (including Chairman and Managing Director), two

 

(2) are Government Nominees from Administrative Ministry i.e. Ministry of Railways (MoR) as (Parttime) (official) Directors and one (1) Independent Director. Six (6) Position of Independent Directors are vacant including Women Independent Director. The Company has requested Ministry of Railways for appointment of Independent Directors in order to comply with the requirements under Regulation 17 of SEBI (LODR) Regulations.

The following Directors held office during the year and till the date of this report-
S. No.	Name & DIN of Directors	Designation	Date of Appointment
Whole Time Directors/Functional Directors
1.	Mr. Pradeep Gaur (07243986)	Chairman & Managing Director	from 01.09.2018 onwards
2.	Mr. Vinay Singh (03324677)	Director (Projects)	From 01.08.2019 onwards
3.	Mr. Rajesh Prasad (08585975)	Director (Operations)	From 03.03.2020 onwards
4.	Mr. Ajay Kumar (08249293)	Director (Personnel)	from 24.10.2018 onwards
5.	Mr. Sanjeeb Kumar (03383641)	Director (Finance)	From 06.05.2020 onwards
Government Nominee Directors/Part time Official Directors
6.	Mr. Hari Mohan Gupta (08453476)	Government Nominee Director	from 17.05.2019 upto 11.11.2020
7.	Mr. Vinay Srivastava (08638850)	Government Nominee Director	from 20.12.2019 onwards
8.	Mr. Dhananjaya Singh (08955500)	Government Nominee Director	From 11.11.2020
Inde	pendent Directors/ Part time non- Official Directors
9.	Mr. Rajen Habib Khwaja (00101884)	Independent Director	from 13.10.2017 onwards up to 18.09.2020
10.	Dr. Sabita Pradhan (07977780)	Independent Director	from 17.10.2017 onwards up to 18.09.2020
11.	Dr. L. V. M. Reddy (03316871)	Independent Director	from 15.03.2018 onwards upto 14.03.2021
12.	Dr. Anil Kumar (00961397)	Independent Director	from 21.05.2018 onwards up to 20.05.2021
13.	Major General (Retd.) Cyrus A Pithawalla (06507764)	Independent Director	from 11.07.2019 onwards

 

The Company has received declarations from the Independent Directors confirming that they meet the criteria of independence as prescribed under the Companies Act, 2013 and SEBI (LODR) Regulations, 2015 as amended from time to time.

 

Woman Director

In terms of the provisions of Section 149 of the Companies Act, 2013 read with the Companies (Appointment and Qualification of Directors) Rules, 2014, a Company shall have at least one Woman Director on the Board of the Company. Further, as per SEBI (LODR) (Amendment) Regulations, 2018, a Company shall have at least one Indpendent Women Director. Your Company had Mrs. Sabita Pradhan as Independent Director on the Board of the Company since October 2017 upto 18.09.2020. The Company has requested Ministry of Railways for appointment

of Women Independent Directors in order to comply with the requirements under Regulation 17 of SEBI (LODR) Regulations and Companies Act, 2013.

Appointment/Resignations of Key Managerial Personnels

The Board of Directors of the Company has designated all the whole-time Directors, Company Secretary, Chief Financial Officer (CFO) as the Key Managerial Personnel (KMP) of the Company; and Chairman & Managing Director (CMD) and Director (Finance) have been designated as CEO and CFO, respectively.

Changes (Appointment / Cessation) in Key Management Personnels (KMP) during the year and till the date of this report.

Name	Designation	Date of change	Reasons
Mr. Sanjeeb Kumar (03383641)	Director (Finance ) & CFO	From 06.05.2020 onwards	Appointed and Designated as KMP
Mr. Rajen Habib Khwaja (00101884)	Independent Director	Upto 18.09.2020	Cessation
Dr. Sabita Pradhan (07977780)	Independent Director	Upto 18.09.2020	Cessation
Mr. Hari Mohan Gupta (08453476)	Government Nominee Director	Upto 11.11.2020	Cessation
Mr. Dhananjaya Singh (08955500)	Government Nominee Director	From 11.11.2020 onwards	Appointment
Dr. L.V.M Reddy (03316871)	Independent Director	Upto14.03.2021	Cessation

Annual evaluation by the Board of its own performance and that of its Committees and Individual Directors-

RVNL being a Government Company is exempted vide notification No. F.No.1/2/2014-CL. V dated 5.6.2015 issued by Ministry of Corporate Affairs, to comply with the provisions of Sec 134(3)(e ) and Sec 134(3)(p) with respect to Annual evaluation by the Board of its own performance and that of its Committees and Individual Directors. Ministry of Corporate Affairs (MCA) vide General Circular dated 5th June, 2015 has exempted Government Companies from the provisions of Section 178 (2) which requires performance evaluation of every director by the Nomination & Remuneration Committee.

In case of RVNL, the performance evaluation of Directors is done by the Ministry of Railways as per

their laid down procedure. Further, DPE, through our Administrative Ministry (MOR) has started the exercise of performance evaluation/ assessment of non-official (Independent) Directors on the Board of the Company.

RETIREMENT OF DIRECTORS BY ROTATION

The Companies Act, 2013 provides that the provisions in respect of retirement of Directors by rotation will not be applicable to Independent Directors. In view of this, no Independent Director is considered to be retiring by rotation, however, all other directors are considered to be retiring by rotation. Accordingly, as per provisions of section 152 of Companies Act, 2013, one third among all other directors namely Mr. Vinay Singh, Director (Projects) and Mr. Vinay Srivastava, Govt. Nominee Director, being longest in office, are liable to retire by rotation and being eligible, offer themselves for re-appointment. The

b) Secretarial Auditor

The Board of Directors has appointed M/s. Kumar Naresh Sinha & Associates, Practicing Company Secretary to conduct the Secretarial Audit for financial year 2020-21. The Secretarial Audit Report is annexed and forms part of this Annual Report in Annexure E.

18.    COMMENTS OF COMPTROLLER & AUDITOR GENERAL (C&AG) OF INDIA

The Comptroller & Auditor General of India has undertaken supplementary audit on the accounts of the Company for the year ended 31st March, 2021 under Section 139(5) of the Companies Act, 2013. The comments of the C & AG on the Annual Accounts of the Company for the year ended 31st March, 2021 alongwith management reply also forms part of this report.

19.    DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY’S OPERATIONS IN FUTURE.

No Significant and Material Orders Passed by The Regulators or Courts or Tribunals impacting the Going Concern Status and Company’s Operations in Future during the year under Review

20.    MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF THE FINANCIAL YEAR AND DATE OF REPORT

There are no material changes and commitments affecting financial position of the Company between the end of the financial year and date of this Report.

21.    COST RECORDS

The provisions of section 148 of the Companies Act, 2013 was not applicable during period under review.

22.    ACKNOWLEDGEMENTS

Your Directors take this opportunity to gratefully acknowledge the co-operation, guidance and support in effective management of company’s affairs and resources provided by Government of India, in particular Ministry of Railways (MoR), Ministry of Finance, Department of Public Enterprises, various banks, Asian Development Bank, the Zonal Railways, IRFC and our equity partners in Joint Venture SPVs for their continued interest and support to the Company. Your Directors would like to express their

 

details of Director seeking re-appointment at the ensuing AGM are contained in the Notice convening the ensuing AGM of the Company.

MEETINGS OF THE BOARD OF DIRECTORS AND OTHER COMMITTEES OF THE BOARD AND THEIR COMPOSITION

Pursuant to the Companies Act, 2013 and Rules framed there under, eight (8) Board Meetings were held in the F.Y.2020-21. The details of the Meetings are in the Corporate Governance Report forming part of this report. Your Company has Audit Committee, CSR Committee, and other Committees of the Board in place in compliance to Companies Act, 2013 and SEBI (LODR) Regulations. The Composition and scope of the Committees are provided in the report of Corporate Governance, forming part of this report in Annexure-B. Further, there has been no instance where the Board of Directors have not accepted the recommendation of Audit Committee.

A STATEMENT REGARDING OPINION OF THE BOARD WITH REGARD TO INTEGRITY, EXPERTISE AND EXPERIENCE (INCLUDING THE PROFICIENCY) OF THE INDEPENDENT DIRECTORS APPOINTED DURING THE YEAR

The Independent directors appointed on the Board of the Company are eminent personalities drawn from fields like Science, Finance, Management, Industry etc. having wide experience. Upon induction on the Board of the Company, the Independent directors are familiarized with profile of the Company, its business, industry scenario, operations, organizational structure, statutory & regulatory responsibilities through familiarization programme. During the year 2020-21, no Independent Director was appointed/re-appointed on the Board of the Company. However, the present Independent Director has wide experience in his field and has contributed towards the growth of the Company. In the opinion of the Board, the Independent Director fulfil the conditions specified in the Listing Regulations and are independent of the management.

17. AUDITORS

a) Statutory Auditor

The Comptroller & Auditor General of India has appointed M/s Raj Har Gopal & Co. Chartered Accountants as Statutory Auditors of the Company for the year ended 31st March, 2021. The Board would like to thank them for their valuable support and guidance during the audit of accounts under review.

thanks for the devotion, commitment and dedication of each and every employee of the Company due to which your Company could face the new challenges and opportunities and create a niche for itself as a major provider of rail infrastructure in the country. Your Directors also acknowledge the support and guidance received from officials of Comptroller & Auditor General of India, Statutory Auditors, and

Secretarial Auditors for their suggestions. Last but not the least, the Directors would like to express their deep appreciation and gratitude towards all their predecessors who have been associated with RVNL, for their valuable contribution to the growth and development of the Company in attainment of the Company’s aim and goals in all the spheres.

---

Mar 31, 2018

DIRECTORS' REPORT

Dear Shareholders,

The Directors are pleased to present the 15th Annual Report and Audited Financial Statements for the Financial Year ended 31st March, 2018 together with the reports of Statutory Auditors and Comptroller & Auditor General of India heron. Integral Reports

The “Management Discussion and Analysis Report”, “Corporate Governance Report”, “Corporate Social Responsibility (CSR) Report”, “Secretarial Auditor Report”, Extract of Annual Return and “Form AOC-2” with relevant sub appendices form an integral part of this Directors’ Report and have been placed as Annexure “A”, “B”, “C”, “D”, “Eland “F” respectively.

The Management Discussion and Analysis Report provides an overview of the affairs of the Company, its business environment, mission and objectives, outlook, operational performance, its resources and systems, strengths, opportunities, constraints, risks and concerns, strategies, prospects, etc.

The Corporate Governance Report highlights the Company’s philosophy on Corporate Governance and Key Values, composition of Board of Directors and its Committees, attendance and remuneration of Directors etc. other relevant disclosures, CEO/CFO Certification and general information for shareholders. It is supplemented by the following compliance certificates.

(I) A Certificate signed by the Chairman and Managing Director affirming receipt of compliance with the Code of Conduct from all Board members and Senior Management personnel during the year 2017-18 (placed at Annexure “B-1”) as per guidelines of Department of Public Enterprises on Corporate Governance;

(ii)    A Certificate from the Chairman and Managing Director and Chief Financial Officer (CFO)with regard to the authenticity of financial statements (placed at Annexure “B-2”); and

(iii)    A Certificate of compliance of Corporate Governance signed by a practicing Company Secretary (placed at Annexure “B-3”) as per guidelines of Department of Public Enterprises on Corporate Governance.

The Corporate Social Responsibility (CSR) Report reflects RVNL’s plans, policy, budget, expenditure, evaluation process for projects and CSR activities undertaken during the year.

Pursuant to provisions of Section 204 of Companies Act, 2013 and Companies (Appointment and Remuneration of Managerial personnel) Rules 2014, the Company has appointed M/s PC. Jain & Co., Practicing Company Secretary, to undertake the Secretarial Audit of the Company. The Secretarial Audit Report is placed at Annexure “D”.

Pursuant to section 134 (3) (a) of the Companies Act, 2013 read with Rule 12 (1) of the Companies (Management and Administration) Rules 2014, the “Extract of Annual Return” is placed at Annexure “E”.

The disclosure of Related Party Transactions, as required under section 134 (3) (h) of Companies Act, 2013 and Rule 8 (2) of the Companies

(Accounts) Rules, 2014 in Form “AOC-2” is placed at Annexure“F”.

1. FINANCIAL PERFORMANCE HIGHLIGHTS

The key highlights of the financial performance of the company during F.Y. 2017-18 along with the corresponding performance in F.Y. 2016-17 are mentioned below (rounded to nearest Rupees/corer):

                                                                                                 (Rs, in Cores)

Particulars	2017-18	2016-17	% increase/(Decrease)
Turnover	7556.56	5919.62	27.65
Total Income	7781.36	6167.18	26.17
Operating Income	573.39	444.41	29.02
PBT(excluding other income, extraordinary and exceptional items)	377.65	269.27	40.25
Reserves & Surplus	1266.46	1001.77	26.42
Profit Before Tax	564.15	481.38	17.19
Profit After Tax	469.66	381.61	23.07
Net worth	3351.48	3083.38	8.70
Appropriations	Â	Â	Â
Proposed Final Dividend	167.57	154.50	8.46

2. PHYSICAL PERFORMANCE

Your Directors are delighted to inform that the F.Y. 2017-18 has been a year of excellence and growth for the Company. Your Company surpassed all previous achievements. project execution from Rs, 269.27 corer in previous year to Rs, 377.65 corer in 2017-18. While there has been an increase in Dividend income from SPVs to Rs, 10.00 corer in comparison to Rs,5.50 corer in previous year, the balance increase is on account of interest income.

Profit After Tax increased from Rs, 381.61 corer in F.Y. 2016-17 to Rs,469.66 corer in F. Y. 2017-18 showing an increase of 23.07%.

Net Worth

The Net Worth of your Company has increased over the previous year on account of transfer of profits (after payment of Dividend) amounting to Rs, 268.66 corer and on account of OCI Rs, (0.56) Core to Reserves and Surplus. Accordingly, the Net Worth of the Company has increased from Rs, 3083.38 corer at the end of previous year to Rs,3351.48 corer at the end of the current year. Reserves

After taking into account, payment of Interim Dividend of Rs, 154.50 corer (total dividend of Rs, 154.50 for F.Y. 2016-17) and Dividend Distribution Tax of Rs, 31.45 corer, the balance under Reserves & Surplus at the end of 2017-18 stands at Rs, 1266.46 corer in comparison toRs, 1001.77 corer in 2016-17. Dividend Interim Dividend

In FY 2017-18, the Board of Directors declared an Interim Dividend of Rs, 154.50 Core in compliance with Guidelines on Capital Restructuring issued by the Department of Public Asset and Investment Management(DIPAM).

Final Dividend

As a result of the improved financial performance of the Company and in compliance of directions of the Ministry of Railways, and Capital restructuring guidelines issued by DIPAM, the Board of Directors

- Total project Length completed during the F. Y. 2017-18 was 885.5 km (315.2 km of Doubling, 17 km of New Line, 86.3 km of Gauge Conversion, 425 km of Railway Electrification) and 42.0km of Metropolitan Transport Project of project length have been physically completed.

Capital Structure

With an authorized share capital of the Company of Rs,3000 corer, there has been no change in the Capital Structure of the Company, with the paid-up share capital of the Company remaining at Rs, 2085.02 corer. Ministry of Railways, Government of India holds the entire share capital of the Company.

Turnover

Your Company has achieved a highest ever turnover of Rs, 7556.56 crone in 2017-18 as compared to Rs,5919.62 corer in 2016-17, i.e. an increase of 27.65%.

This became achievable mainly due to the assured availability of funds for project expenditure during the year by the Ministry of Railways, which accounts for 80.66% of the Turnover. In addition, over the years the Company has also put a large number of large value contracts in place to speed up the process of project execution. At the same time, there has also been an increase in the level of expenditure on works undertaken for SPVs and other deposit works to Rs, 1356.35 crone during 2017-18 in comparison to Rs, 1025.29 crone in the previous year.

Profit

Profit Before Tax increased from Rs, 481.38 crone in 2016-17 to Rs, 564.15 crone in 2017-18. The major increase is on account of higher gross margin from Railways (Moor) as a pass through entry in the books of RVNL. During the year an amount of Rs,241.32 crone was paid to IRFC on this account, leaving an outstanding loan balance of Rs, 2037.95 crone.

CONSOLIDATED FINANCIAL STATEMENTS

In compliance with the requirements of Companies Act, 2013 the consolidated Financial Statements of RVNL have been prepared for the Financial Year 2017-18, which are presented in the Report. The accounts have been consolidated based on the performance and activities of the SPVs and the share of RVNL in those entities as an equity partner and its wholly owned subsidiary HSRC. The related entries appearing in the Stand Alone Accounts of RVNL have been adjusted accordingly in consonance with the relevant Indian Accounting Standards (In AS 110 & 28). The salient features of differences in the significant entries between the Stand Alone Accounts of RVNL and the Consolidated Accounts are as under:

(Rs, in Corers)

have recommended a Final Dividend of Rs, 13.07 cores. Therefore, the total Dividend payable for F. Y. 2017-18 amounts to Rs, 167.57 cores subject to the approval of shareholders in the ensuing Annual General Meeting of the Company. The cumulative Dividend paid to Ministry of Railways by RVNL up to F.Y. 2017-18 shall amount to Rs, 588 crone.

Fixed Deposits

No deposits from the public have been accepted by the Company during the year under review. Reimbursement of Expenditure RVNL received an amount of Rs, 5812.62 crone (approx..), for project expenditure during the current year, from Ministry of Railways (Moor) for execution of various works.

Loans from IRFC

During the year, an additional amount of Rs, 92.50 crone was received as borrowings from IRFC. With this, the total amount received from IRFC is Rs,3281.43 crone. The principal and interest on the borrowings from IRFC are repaid by Ministry of

Item	Figures as on 31.3.2018 Stand Alone	Figures as on 31.3.2018 Consolidated
Turn Over	7556.56	7597.36
Other Income	224.80	224.93
Direct Expenses	6983.17	7023.97
Indirect Expenses	240.40	240.45
PBT	564.15	664.03*
PAT	469.66	569.52
Reserve & Surplus	1266.46	1839.00
Net Worth	3351.48	3924.02

* PBT includes Rs, 99.81 core as proportionate share of RVNL in the profit/loss of Joint Ventures.

In-Principle approval for listing from Stock Exchanges was obtained from National Stock Exchange of India Limited (NSE) and BSE Limited on 20.04.2018 and 25.04.2018 respectively. Domestic and International Road Shows were conducted in the month of May and June,2018.

In High Level Committee (HLC) Meeting of officers constituted by DIPAM held on 11.06.2018, it was decided to reschedule the launch of RVNL IPO.

Operational Performance

3. Projects Execution

3.1 Physical Size of the Projects:

Since its establishment in 2003, Ministry of Railways has transferred 159 projects to RVNL for execution, which may be broadly classified under the following heads:

-    Doubling    67

-    Gauge Conversion    11

-    New Lines    12

-    MTP    06

-    Railway Electrification    28

-    Workshops    15

-    Others    20

-    Unsanctioned    05 (1 Doubling,

3 GC, 1 RE)

SUBSIDIARY, JOINT VENTURE AND ASSOCIATE COMPANIES

A report on the performance and financial position of subsidiary, associates and joint venture Company as per Companies Act, 2013 is provided in Note-51 to the Consolidated Financial Statements.

PROPOSED INTIAL PUBLIC OFFER (IPO):

Cabinet Committee on Economic Affairs (CCEA) approved the Disinvestment of Government of India shareholding in the Company in the month of April,2017. Thereafter, Department of Investment and Public Asset Management (DIPAM) appointed the Book Running Lead Managers (BRLMs), Legal advisors, Registrar to the issue and Ad-Agency.

In compliance with the SEBI (ICDR) Regulations, 2009 and Depositories Act, 1996, RVNL has signed agreements with both the Depositories (CDSL & NSDL). Further the physical shares held by President of India and its nominees were also dematerialized.

The Memorandum and Articles of Association of the Company were amended in accordance with the provisions of Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

The Company filed the Draft Red Herring Prospectus (DRHP) with SEBI for seeking approval of listing (IPO) on 28.03.2018. SEBI approval was received on 17.05.2018 on the DRHP.

3.1.1 Details of Projects Where Progress is affected:

S. No	Factors affecting Progress of Projects	No. of Projects	Length (km)	Cost (Rs, core)
(I)	Projects adversely affected/held up due to land acquisition, forest clearance, law and order & other issues	10	459.80	24517.22
(ii)	Projects adversely affected/held up due to clearances awaited from Central & State Governments (Metro projects)/ shifting of utilities etc.	1+2 (partly)	26.14	5719.00
(iii)	Projects under review	5	0.00	397.8
(iv)	Under Planning & Development	12	257.4	4191.38
Â	Total	28+2 (partly)	743.34	34825.4

3.1.2 Up to 2012, the RE works being executed by RVNL were only those where electrification was a part of some other work such as doubling, gauge conversion, etc. However, in the last 5 years, pure RE projects have also been transferred for execution.

With the transfer of projects involving construction of Workshops, Metro Projects, construction of Cable Stayed Bridge etc., RVNL has diversified the nature of projects being executed by it.

These projects are spread all over the country and for efficient implementation of projects, 37 Project Implementation Units (PIUs) have been established at 22 locations to execute projects in their geographical hinterland. They are located at

New Delhi, Mumbai, Kolkata (4 Units), Chennai, Secunderabad (2 Units), Bhubaneswar (3 Units), Bhopal (3 Units), Jhansi, Kota, Jodhpur, Walt air (2 Units), Bangalore, Pane, Raipur (3 Units), Luck now (2 Units), Rishikesh, Ahmadabad (2 Units), Kanpur, Varanasi (2 Units), Mughalsarai, Chandigarh, Tambala & Guwahati. The PIUs are established and closed as per requirement.

3.2 Status of physical progress of projects The status of the 159 projects assigned to RVNL for execution is as under: -

Projects completed up to March 2018 : 65 Projects under implementation    : 94

(includes 30 projects at Para 3.1.1)

Projects yet to be sanctioned    : 05

3.2.1 RVNL has so far completed 65 projects.

The list of 57 projects fully completed up to March, 2017 is as under:

S. No.	Railway	Project Name	Type of Project	Length (km)
1.	Central Railway (CR)	Diva - Kalian 5th & 6th Line	Doubling	11
2.	Central Railway	Penki - Mohole Doubling	Doubling	17
3.	Central Railway	Panel - Asia JNPT Doubling	Doubling	28.5
4.	Central Railway	Penki - Sholapur Doubling	Doubling	16.28
5.	Eastern Railway (ER)	Guru - Saktigarh Exton of 3rd Line	Doubling	26
6.	East Central Railway (ECR)	Bahraini - Titrate Bypass Doubling	Doubling	8.3
7.	East Coast Railway (Ector)	Talc her-Cuttack-Para deep Doubling with 2nd Bridge on Rivers Birwa & Mahanadi	Doubling	3
8.	East Coast Railway	Jakhapura- Haridaspur3rd Line	Doubling	23.3
9.	East Coast Railway	Cuttack - Baring Doubling	Doubling	14.3
10.	East Coast Railway	Rajatgarh-Barang Doubling	Doubling	31.3
11.	North Central Railway (NCR)	Pawl - Bhuteswar 3rd Line	doubling	81
12.	North Central Railway	Aligarh - Ghaziabad 3rd Line	Doubling	106.1

 

s. No.	Railway	Project Name	Type of Project	Length (km)
13.	North Western Railway (NWR)	Braga Kit Kathy - Luna Doubling	Doubling	30.3
14.	North Western Railway	Kermode - Palanpur Doubling	Doubling	5.4
15.	North Western Railway	Reward- Maneroo Doubling	Doubling	69.02
16.	North Western Railway	Rani-Keshav Ganja Doubling	Doubling	59.5
17.	Southern Railway (SR)	Attipattu - Korukkupet 3rd Line	Doubling	18
18.	Southern Railway	Pattabiram - Tiruvallur 4th Line & Tiruvallur - Arakkonam 3rd Line	Doubling	41.89
19.	Southern Railway	Tiruvallur - Arakkonam 4th Line	Doubling	28
20.	Southern Railway	Villipuram-Dindigul Doubling	Doubling	273
21.	Southern Railway	Thanjavur-Ponmalai - Doubling	Doubling	46.96
22.	South Central Railway (SCR)	Pullampet - Balapalle Ph I of Gouty - Renigunta Doubling	Doubling	41
23.	South Central Railway	Krishnapatnam - Venkatachalam Doubling with RE	Doubling	16.5
24.	South Central Railway	Gouty - Renigunta Patch Doubling	Doubling	151
25.	South Eastern Railway (SER)	Tikiapara - Santragachi Doubling	Doubling	5.6
26.	South Eastern Railway	Pascua - Kharagpur 3rd Line	Doubling	45
27.	South Eastern Railway	Pascua - Halide Ph 1 Doubling	Doubling	14
28.	South Eastern Railway	Pagoda - Talmud (Jn. Cabin) Doubling	Doubling	13.5
29.	South Eastern Railway	Talmud Jn. Cabin - Basely Stamata Doubling	Doubling	24.23
30.	South East Central Railway (SECR)	Ballarpur - Ursula 3rd Line Doubling	Doubling	105
31.	South East Central Railway	Salk Road- Khongsara Patch Doubling	Doubling	26
32.	South Western Railway (SWR)	Hoped - Guntakal Doubling	Doubling	115
33.	North Western Railway (NWR)	Delhi - Reward Gauge Conversion	GC	94.2
34.	North Western Railway	Ajmer - Cholera - Rings -Reward Gauge Conversion	GC	295
35.	North Western Railway	Bhili - Samara Gauge Conversion	GC	223

 

s. No.	Railway	Project Name	Type of Project	Length (km)
36.	Southern Railway (SR)	Thanjavur - Villupuram Gauge Conversion	GC	192
37.	Southern Railway	Cuddlier - Salem Gauge Conversion	GC	193
38.	South Western Railway (SWR)	Arasikere-Hassan-Mangalore Gauge Conversion	GC	230
39.	Western Railway (WR)	Bharuch - Samna - Dame Gauge Conversion	GC	62
40.	Western Railway	Gandhi ham - Palanpur Gauge Conversion	GC	301
41.	East Coast Railway (Ector)	Datary - Bonsai New Line	NL	155
42.	Southern Railway (SR)	Vallarpadam - Ideally New Line	NL	9
43.	Railway Electrification (RE)	Tonka -Bonsai - RE	RE	144
44.	Railway Electrification	Kharagpur (Impure) -Bhubaneswar Including Branch Line of Talc her - Cuttack - Para deep	RE	581
45.	Railway Electrification	Bhubaneswar - Kottavalasa	RE	417
46.	Railway Electrification	Daund-Manmad Incl. Puntamba-Shirdi - RE	RE	255
47.	Railway Electrification	Reningunta - Guntakal RE	RE	308
48.	Railway Electrification	Yelahanka - Dharmavaram -Gouty RE	RE	306
49.	Railway Electrification	Barouche - Samna - Dame RE	RE	64
50.	Railway Electrification	Maneroo- Hisser RE	RE	74
51.	Eastern Railway (ER)	Civil Engineering Works In Connection With Diesel Loco Component Factory, Dancing	WKSP	Â
52.	Eastern Railway	Dancing - Setting Up of Electric Loco Assembly And Ancillary Unit of CLW	WKSP	Â

 

S. No.	Railway	Project Name	Type of Project	Length (km)
53.	South Eastern Railway (SER)	Setting Up of Diesel Multiple Unit (DMU) Manufacturing Factory at Sank rail / Halide	WKSP	-
54.	DLW	Varanasi - Augmentation of Production Capacity from 200 To 250 High HP Locos Per Year	WKSP	Â
55.	South Central Railway (SCR)	Workshop for Manufacture of Flat Bogies for LHB Design Coaches, Badger	WKSP	Â
56.	Eastern Railway	Bardhhaman Yard - 4-lane road over bridge in lieu of 2-lane road over bridge No. 213	ROB	Â
57.	North Western Railway (NWR)	IOC Siding At Scalawags (Deposit Work)	Others	2.82

The list of 8 projects completed in 2017-18 is as under:

S. No.	Railway	Project Name	Type of Project	Length (km)
1.	East Coast Railway	Khurda-Barang - 3rd line (35 km)	Doubling	32.324
2.	South Central Railway	Richer - Guntakal Doubling	Doubling	81.0
3.	South Eastern Railway	Goelkera-Monoharpur 3rd line (40 km)	Doubling	27.5
4.	West Central Railway	Bhopal-Binna - 3rd line (143 km)	Doubling	144.3
5.	Railway Electrification	Jackal - Hisser (79 km)	RE	80.0
6.	East Central Railway	Bahraini - 250 High Horse Power Loco Shed	WKSP	-
7.	Southern Railway	Srirangam-Tiruchchirapalli Town - 4-lane road over bridge in lieu of 2- lane bridge No.380-A	ROB	Â
8.	South Central Railway	Secunderabad- Up gradation of facilities at Centralized Training Academy for Railway Accounts	TRG	Â

of which 29.42 km was completed against the Moue time line target of 27 km. During the year, Madha-Wadsinghe (7.68 km) was completed in April 2017, Akkalkot Road-Nagansur (5.15 km) in June 2017, Wadsinghe-Kurduwadi (8.11 km) in October 2017 and Dallas - Kim (8.48 km) in December 2017, totaling to 29.42 km under the time line target of Moue 2017-18. In addition, Nagansur-Boroti (8.98 km) was completed in July 2017.

3.4.3.2    Hospet-Tinaighat Doubling: During the year, 37.24 km of project length was completed, out of which 23.48 km was completed against the Moue time line target of 22 km. During the year, Ginigera-Munirabad (10.75 km) was completed in November 2017 and Munirabad-Hospet (5.93 km) & Devarayi-Nagargalli (6.8 km) in December 2017, totaling to 23.48 km under the time line target of Moue 2017-18. In addition, Gadag-Kanginhal (8.32 km) was completed in May 2017 and Nagargalli-Tavargatti (5.44 km) in January 2018.

3.4.3.3    Binna - Kota Doubling with RE: During the year, 51.5 km of project length was completed, out of which 25.42 km was completed against the Moa time line target of 24 km. During the year, Shadoragaon-Pilighata (9.1 km) was completed in May 2017, Chandresal-Digod (8.16 km) and Shadoragoan - Ratikhera (8.16 km) in November

2017, totaling to 25.42 km under the time line target of Moa 2017-18. In addition, Kota-Solaria (2.71 km) was completed in June 2017, Bhulon-Motipura Chowki (9.78 km) in August 2017, Railhead-Ashok Nagar (7.73 km) in December 2017 and Diode - Kalyanpura (5.86 km) in February 2018.

3.4.3.4    Khurda-Barang - 3rd line: During the year, Mancheswar-Bhubaneswar (6.61 km) was completed in March 2018, thus completing the project.

3.4.3.5    Sambalpur-Titlagarh Doubling: During the year, Dungripalli-Khalliapalli (12.77 km) was completed in July 2017.

3.3    Total project length completed:

Cumulatively, RVNL has completed a total of 2668.52 km of doubling, 1676.30 km of gauge conversion, 230.82 km of new lines, 3262.07 km of pure Railway Electrification, 1909 km RE as part of NL/GC/DL and 42.0 km of Metropolitan Transport Project (MTP). Thus, as on 31.3.2018,7879.71 km project length out of a total length of 16043 km of 159 sanctioned projects (5 projects of 733.5 km of length are yet to be sanctioned) assigned to RVNL, have been completed.

3.4    Project length completed during 2017-18:

During 2017-18, 885.5 km (315.2 km of Doubling,

17 km of New Line, 86.3 km of Gauge Conversation, 425 km of Railway Electrification and 42.0 km of Metropolitan Transport Project) of project length have been physically completed. In addition, Railway Electrification of 153.87 km was also carried out, in other than specific Railway Electrification projects, as part of Doubling.

3.4.1    Sections completed under New Line Plan Head: During the year, 17 km of New Line project was completed, the details are given below:

3.4.1.1    Dallirajhara-Rowghat New Line: During the year, Gudum-Bhanu Pratappur (17 km) was completed in December 2017.

3.4.2    Sections completed under Gauge Conversation Plan Head: During the year, 86.3 km of Gauge Conversation was completed, the details are given below:

3.4.2.1    Lucknow-Pilibhit Gauge Conversion:

During the year, Aishbab-Sitapur (86.3 km) was completed in November 2017.

3.4.3    Sections completed under Doubling Plan Head:

During the year, 315.2 km of Doubling was completed, the details are given below:

3.4.3.1    Daunt - Gulbarga Doubling: During the year, 38.4 km of project length was completed, out completed in March 2018.

3.4.3.16 Budni-ltarsi 3rd line: During the year, Itarsi-Powarkhera (10.30 km) was completed in March 2018.

3.4.4 Sections completed under Pure Railway Electrification Works:

During the year, 425 km of Railway Electrification was completed, details are given below:

3.4.4.1    Chakra - Ballia - Ghazipur - Varanasi -Allahabad RE: During the year, 138 km of project length was completed. Raja Talab-Katla (25 km) was completed in April 2017, Katla-Madhosingh (9 km), Raja Talab-Haridattapur (6 km) and Shahbajkuli-Yusufpur (15 km) in August 2017, Ghazipur City-Shahbajkuli (12 km) and Kadipur-Sarnath (8 km) in November 2017, Aunrihar-Rajwadi (11 km) and Yusufpur-Dondadih (9 km) in December 2017, Sagarpalli-Dondadih (28 km) and Kadipur-Sarnath (6 km) in February 2018 and Ballia-Jhusi (9 km) in March 2018.

3.4.4.2    Utraitia-Janghai RE: During the year, 46 km of project length was completed. Badshahpur-Dandupur (13 km) was completed in July 2017 and Janghai-Bashahpur&Gauriganj-Prithiganj (33 km) in November 2017.

3.4.4.3    Jakhal-Hisar RE: During the year, 81 km of project length was completed. Hisar-Dhansu (20 km) was completed in May-17, Dhansu-Barwala (20 km) in June 2017, Baraka- Gujuwala (20 km) in September 2017, Gujuwla-Kudni Halt (16 km) in December 2017 and Kind Halt- Jackal (5 km) in February 2018.

3.4.4.4    Jakhal-Dhuri-Ludhiana RE: During the year, 53 km of project length was completed. Ludhiana-Ahmedgarh (26 km) was completed in December 2017 and Rochelle-Gallup-KUP (10 km), Kup-Malerkotla (10 km) & Malerkotla-Himtana (7 km) in March 2018.

3.4.4.5    Rani-Palanpur RE: During the year, 47 km of project length was completed. Palanpur-Sarotra

3.4.3.6    Banspani-Daitari-Tomka-Jakhapura Doubling: During the year, 20.97 km of project length was completed. Naranpur-Basantpur (9.02 km) was completed in December 2017 and Sitabinj-Basantpur (11.95 km) in March 2018.

3.4.3.7    Bison - Jhansi Doubling with RE:

During the year, 29.44 km of project length was completed. Parauna-Ait (10.94 km) was completed in April 2017, PTSC-Chignon (6.83 km) in December 2017 and Bhua-Orai (11.67 km) in March 2018.

3.4.3.8    Swaroopganj-Abu Road-Patch doubling:

During the year, Kivarli-Morthala (5.87 km) was completed in November 2017.

3.4.3.9    Raichur-Guntakal Doubling: During the year, Manthralayam Road-Mammary (10.15 km) was completed in May 2017, thus completing the project.

3.4.3.10    Vijaywada-Gudivada-Bhimavaram-Narasapur, Gudivada-Machlipatnam and Bhimavaram-Nidadavolu (221 km)-Doubling with electrification: During the year, Mandavalli-Kaikaluru (7.11 km) was completed in April 2017.

3.4.3.11    Goelkera-Monoharpur-3rd line: During the year, Goelkera-Posoita (15.9 km) was completed in March 2018, thus completing the project.

3.4.3.12    Raipur-Titlagarh Doubling: During the year, Bagbahara-Komaikhan (11.0 km) was completed in September 2017.

3.4.3.13    Palanpur-Samakhiali: During the year, 45.86 km of project length was completed. Bhildi-Jasali-Dhankawada-Deodhar (28.1 km) and Kidiyanagar-Chitrod-Shivlakha (17.76 km) were completed in February 2018.

3.4.3.14    Bhopal-Binna 3rd Line: During the year, Habibganj-Bhopal (5.93 km) was completed in March 2018, thus completing the project.

3.4.3.15    Habibganj-Barkhera (3rd line): During the year, Habibganj-Misrod (6.11 km) was

March 2018.

3.6.2 Secunderabad- Up gradation of facilities at Centralized Training Academy for Railway Accounts: Up gradation of facilities at Centralized Training Academy for Railway Accounts (C-TARA) was completed in March

2018.

3.7    Project Completed under MTP Plan Head:

To strengthen the MMTS Services in Twin cities of Hyderabad - Secunderabad, different works of extension, doubling, quadrupling, electrification etc., covering total 84 km has been sanctioned in 2012-13 at a cost of Rs, 816.55 core, to be shared with the Government of Telangana at a ratio 1:2 (Margot’s).

During the year, 42 km of Metropolitan Transport Project was completed, details are given below:

3.7.1 Hyderabad-Secunderabad - Multi modal transport system (Phase-ll): During the year, Telapur-Ramachandrapuram (5.25 km) was completed in January 2018, Bollarum-Medchal (12.35 km) and Molalla 'C'-Ghatkesar (Quadrupling)- 24.4 km were completed in February 2018, thus completing 42 km of project length.

3.8    Projects Fully Commissioned and Handed Over to Railways:

Out of 65 projects completed so far, 60 projects have been fully commissioned and handed over to Railways for operations and maintenance.

Road (24 km) was completed in April 2017, Sartre Road-Naval (10 km) in May 2017, Maval-Amirgarh (5 km) in August 2017 and Abu Road-Naval (8 km) in December2017.

3.4.4.6    Guntakal-Kalluru RE: During the year, 18 km of project length was completed. Guntakal-Gulpalayamu (11 km) was completed in September 2017 and Kalluru-Khaderpet (7 km) in Feburary2018.

3.4.4.7    MMTS Phase -II RE: During the year, 42 km of project length was completed. Ramchandra-Telapur (6 km) was completed in May 2017, Malkagiri-Bolaram (14 km) in June17, Boalram-Gundala Pochampalli (10 km) in August 2017, Gundala Pochampalli-Medchal (5 km) in October 2017 and Cherelapally-Ghatkesar (7 km) in January 2018.

3.5    Workshop projects completed: During the year, 1 workshops project was completed, the details of which are as under:

3.5.1    Bahraini - 250 High Horse Power Loco Shed: Bahraini - 250 High Horse Power Loco Shed was completed on 31.10.2017.

3.6    Other projects completed: During the year, 2 projects under Plan Head RSW & TRG were completed, the details of which areas under:

3.6.1    Srirangam-Tiruchchirapalli Town-4-lane road over bridge in lieu of 2- lane bridge No. 380-A: A 4-lane Road Over Bridge between Srirangam-Tiruchchirapalli Town was completed in

The list of 49 projects commissioned till March 2017 is as under:

S. No.	Railway	Project Name	Type of Project	Length (km)
1.	Central Railway (CR)	Diva - Kalian 5th & 6th Line	Doubling	11
2.	Central Railway	Penki - Mohole Doubling	Doubling	17
3.	Central Railway	Panel - Asia JNPT Doubling	Doubling	28.5
4.	Central Railway	Penki - Sholapur Doubling	Doubling	16.28
5.	Eastern Railway (ER)	Guru - Saktigarh Exton of 3rd Line	Doubling	26

 

s. No.	Railway	Project Name	Type of Project	Length (km)
6.	East Central Railway (ECR)	Bahraini -Titrate Bypass Doubling	Doubling	8.3
7.	East Coast Railway (Ector)	Talc her-Cuttack-Para deep Doubling with 2nd Bridge on Rivers Birwa & Mahanadi	Doubling	3
8.	East Coast Railway	Cuttack - Baring Doubling	Doubling	14.3
9.	East Coast Railway	Jakhapura- Haridaspur 3rd Line	Doubling	23.3
10.	North Central Railway (NCR)	Pawl - Bhuteswar 3rd Line	Doubling	81
11.	North Central Railway (NCR)	Aligarh - Ghaziabad 3rd Line	Doubling	106.1
12.	North Western Railway (NWR)	Banat Kit Kathy - Luna Doubling	Doubling	30.3
13.	Southern Railway (SR)	Attipattu - Korukkupet 3rd Line	Doubling	18
14.	Southern Railway	Pattabiram - Tiruvallur 4th Line & Tiruvallur - Arakkonam 3rd Line	Doubling	41.89
15.	Southern Railway	Tiruvallur - Arakkonam 4th Line	Doubling	28
16.	South Central Railway(SCR)	Pullampet - Balapalle Ph I of Gouty - Renigunta Doubling	Doubling	41
17.	South Central Railway	Krishnapatnam - Venkatachalam Doubling With RE	Doubling	16.5
18.	South Central Railway	Gouty - Renigunta Patch Doubling	Doubling	151
19.	South Eastern Railway (SER)	Pascua - Kharagpur 3rd Line	Doubling	45
20.	South Eastern Railway	Pascua - Halide Ph 1 Doubling	Doubling	14
21.	South Eastern Railway	Rajgoda-Tamluk (Jn. Cabin) Doubling	Doubling	13.5
22.	South Eastern Railway	Tikiapara - Santragachi Doubling	Doubling	5.6
23.	South Eastern Railway	Talmud Jn. Cabin - Basely Stamata Doubling	Doubling	24.23
24.	South East Central Railway (SECR)	Ballarpur - Ursula 3rd Line Doubling	Doubling	105
25.	South Western Railway (SWR)	Hope - Guntakal Doubling	Doubling	115
26.	North Western Railway (NWR)	Delhi - Reward Gauge Conversion	GC	94.2
27.	North Western Railway	Ajmer - Cholera - Rings -Reward Gauge Conversion	GC	295
28.	North Western Railway	Bhili - Samara Gauge Conversion	GC	223
29.	Southern Railway (SR)	Thanjavur - Villupuram Gauge Conversion	GC	192
30.	Southern Railway	Cuddlier-Salem Gauge Conversion	GC	193

 

s. No.	Railway	Project Name	Type of Project	Length (km)
31.	South Western Railway (SWR)	Arasikere-Hassan-Mangalore Gauge Conversion	GC	230
32.	Western Railway (WR)	Bharuch - Samni - Dahej Gauge Conversion	GC	62
33.	Western Railway	Gandhidham - Palanpur Gauge Conversion	GC	301
34.	East Coast Railway	Daitari - Banspani New Line	NL	155
35.	Southern Railway (SR)	Vallarpadam - Idapally New Line	NL	9
36.	Railway Electrification (RE)	Tomka -Banspani - RE	RE	144
37.	Railway Electrification	Kharagpur (Nimpura) - Bhubaneswar Including Branch Line ofTalcher - Cuttack - Paradeep	RE	581
38.	Railway Electrification	Bhubaneswar - Kottavalasa	RE	417
39.	Railway Electrification	Reningunta - Guntakal RE	RE	308
40.	Railway Electrification	Bharuch - Samni - Dahej RE	RE	64
41.	Railway Electrification	Daund-Manmad Incl. Puntamba- Shirdi - RE	RE	255
42.	Railway Electrification	Yelahanka - Dharmavaram - Gooty RE	RE	306
43.	Eastern Railway (ER)	Civil Engineering Works In Connection With Diesel Loco Component Factory, Dankuni	WKSP	Â
44.	Eastern Railway	Dankuni - Setting Up of Electric Loco Assembly And Ancillary Unit of CLW	WKSP	-
45.	South Eastern Railway (SER)	Setting Up of Diesel Multiple Unit (DMU) Manufacturing Factory at Sankrail / Haldia	WKSP	Â
46.	DLW	Varanasi - Augmentation of Production Capacity from 200 To 250 HighHP Locos Per Year	WKSP	Â
47.	South Central Railway (SCR)	Workshop for Manufacture of Flat Bogies for LHB Design Coaches, Yadgir	WKSP	-
48.	Eastern Railway (ER)	Barddhaman Yard - 4-lane road over bridge in lieu of 2-lane road over bridge No. 213	ROB	Â
49.	NWR	IOC Siding At Salawas (Deposit Work)	Others	2.82

The list of 11 projects commissioned in 2017-18 is as under.

S. No.	Railway	Project Name	Type of Project	Length (km)
1.	East Coast Railway	Rajatgarh-Barang - 3rd line	Doubling	31.3
2.	North Western Railway	Rani-Keshav Ganj Doubling	Doubling	59.5
3.	Southern Railway	Villipuram-Dindigul Doubling	Doubling	273
4.	Southern Railway	Thanjavur-Ponmalai - Doubling	Doubling	46.96
5.	South Central Railway	Raichur - Guntakal Doubling	Doubling	81.0
6.	South East Central Railway	Salka Road- Khongsara Patch Doubling	Doubling	26
7.	Railway Electrification	Manheru- Hisar (74 km)	RE	74.0
8.	Railway Electrification	Jakhal - Hisar (79 km)	RE	80.0
9.	East Central Railway	Barauni - 250 High Horse Power Loco Shed	WKSP	-
10.	Southern Railway	Srirangam-Tiruchchirapalli Town -4-lane road over bridge in lieu of 2 - lane bridge No.380-A	ROB	Â
11.	South Central Railway	Secunderabad- Upgradation of facilities at Centralised Training Academy for Railway Accounts	OSW	Â

Doubling and 604.97 km of Railway Electrification

and handed over to Zonal Railways for operations, the details are given below:

3.9 Sections of Projects Commissioned and handed over to Railways in 2017-18:

In 2017-18,1022 km sections were commissioned consisting of 17 km of New Line, 400.03 km of

S. No.	Name of the Project	Block Section	Length (km)	Total (km)	Zonal Railway
Plan Head: New Line
1.	Dallirajhara-Rowghat (90 km) {Part of Dallirajhara-Jagdalpur (235 km)}	Gudum- Bhanupratapur	17	17	SECR

 

s. No.	Name of the Project	Block Section	Length (km)	Total (km)	Zonal Railway
Plan Head: Doubling
2.	Daund-Gulbarga - Doubling (224.9 km)	Tilati-Akalkot Road	13.88	13.88	CR
3.	Khurda-Barang - 3rd line	Bhubaneswar New -Mancheswar	6.63	6.63	ECoR
4.	Rajatgarh-Barang	Chudanga Garh Block Cabin -Bhubaneswar New	6.04	6.04	ECoR
5.	Sambalpur-Titlagarh (182 km)	Hirakud-Godbhaga	9.52	24.74	ECoR
		Godbhaga-Attabira- Suktapalli	15.22
6.	Banspani-Daitari-Tomka-Jakhapura (180 km)	Projanpur-Goaldih- Keonjhar-Naranpur	25.83	57.92	ECoR
		Sitabinj- Nilakantheswar- Harichandanpur- Chilikidara	32.09
7.	Raipur-Titlagarh (203 km)	Titlagarh-Kantabanji	31.67	49.67	ECoR
		Arand-Mahasamund- Belsonda	18
8.	Swaroopganj-Abu Road -Patch doubling (25.36 km)	Swaroopganj -Bhimana	8.59	8.59	NWR
9.	Rani-Keshav Ganj (59.5 km)	Rani-Khimel-Mori Bera	40.16	40.16	NWR
10.	Rewari-Manheru (69.02 km) with RE	Kosli-Jharli	14.5	14.5	NWR
11.	Villupuram-Dindigul Doubling	Tamaraipadi- Kalpattichatram	25.44	68.46	SR
		Kalpattichatram- Manaparai	22.47
		Valadi-Ponmalai	17.71
		Ponmalai- Tiruchchirappalli	2.84

 

s. No.	Name of the Project	Block Section	Length (km)	Total (km)	Zonal Railway
Plan Head: Doubling
12.	Thanjavur-Ponmalai doubling	GOC-Solgampatti	18	46.75	SR
Â	Â	Solgampatti-Thanjavur	28.75	Â	Â
13.	Salka Road-Anuppur	Tenganmada- Khongsara	8.30	8.30	SECR
14.	Hospet-Hubli-Londa-Tinaighat-Vasco da Gama (352.28 km)	Shivthan-Londa- Tinaigaht	16.45	45.25	SWR
Â	Â	Bhanapur-Koppal	12.23	Â	Â
Â	Â	Hebsur-Navalgund- Annigeri	16.57	Â	Â
15.	Bhopal-Bina - 3rd line (143 km)	Sanchi-Vidisha	9.14	9.14	WCR
Â	Total:	Â	400.03	400.03	Â
Plan Head: Railway Electrification
16.	Chhapra - Ballia - Ghazipur -Varanasi - Allahabad RE	Ballia (in.)-Sarnath (in.)	131.3	131.3	NER
17.	Pune-Wadi-Guntakal RE	Gulbarga (Incl.)-Wadi (Excl.)	36.38	171.96	CR& SCR
Â	Â	Guntakal-Raichur- Chiksugur	135.58	Â	Â
18.	Amla-Chindawara-Kalumna RE	Parasia (Incl.)-Chhindwada (Excl.)	30	63.34	SECR
Â	Â	Chhindawada -Bhandarkund	33.34	Â	Â
19.	Jakhal - Hisar (79 km)	Jakhal - Hisar	79.86	79.86	NR
20.	Manheru - Hissar (74 rkm)	Manheru - Hissar	74	74	NWR
21.	Rewari-Manheru (69.02 km) with RE	Rewari-Manheru	27.2	27.2	NWR
22.	Raipur-Titlagarh RE	Titlagarh-Kantabanji-Turekela Road	44.62	44.62	ECOR
23.	MMTS Phase-ll	MMTS	12.69	12.69	SCR
Â	Total:		604.97	604.97	Â

3.10 Signaling and Telecommunication

The Company has achieved commendable success in commissioning of Signaling work associated with doubling, 3rd line, Intermediate block signaling, Railway Electrification, interlocking of mid-section Level crossings and yard re-modeling. The Company has executed 100 Nos. of no interlocking of stations for commissioning of works, which is the highest till date. During 2017-18, RVNL has commissioned 56 new Electronic Interlocking & 3 new Panel Interlocking & executed alterations in existing 20 Ells, and 21 existing panel interlocked stations. Project wise 60 stations

of 3rd line/ doubling projects, 25 stations of Railway Electrification projects, 30 Midsection Interlocking of level crossing gates and 15 IBS/Auto signals were commissioned. Company has also been able to successfully commission Telecom work involving laying of Optical Fiber cable and 6 quad cable of a total of 520 km.

3.11 Projects under implementation:

There are 94 projects under various stages of implementation by RVNL.

3.11.1 The details of 84 projects assigned to RVNL till March 2017 and which are under implementation areas under:

S. No.	Railway	Name of Project	Plan Head
1.	CR & SCR	Daunt-Gulbarga - Doubling (224.9 km) and Pune-Guntakal -Electrification (641.37 km)	Doubling
2.	ER	Nabadwipghat-Nabadwipdham up to BB loop (9.58 km) {Part of Kalinarayanpur-Krishnanagarwith Krishnanagar-Shantipur Nabadwipghat- GC, Krishnanagar-Chartala, MM for Krishnan agar Chakra-NL, Naihati-Ranaghat-3rd line, Nabadwipghat-Nabadwipdham up to BB loop (9.58 km), Ranaghat-Lalgolastrengthening (bridge No.2)}	Doubling
3.	ECR	Patratu-Sonnagar 3rd Line	Doubling
4.	EMCOR	Sambalpur-Titlagarh (182 km)	Doubling
5.	EMCOR	Raipur-Titlagarh (203 km), inch new line Mandir Hasaud-Naya Raipur (20 km) and new MM for conversion of Raipur (Kendri)-Dhamtari &Abhanpur-Rajim branch (67.20 km)	Doubling
6.	EMCOR	Banspani-Daitari-Tomka-Jakhapura (180 km)	Doubling
7.	EMCOR	Vizianagaram-Sambhalpur (Titlagarh) 3rd line	Doubling
8.	NR	New Delhi-Tikal Bridge - 5th & 6th line (2.65 km)	Doubling
9.	NR	Utraitia-Raebareli (65.6 km)	Doubling
10.	NR	Raebareli-Amethi (60.1 km)	Doubling
11.	NCR	Bison-Jhansi (206 km) with RE	Doubling
12.	NCR	Mathura-Jhansi 3rd line	Doubling

 

S. No.	Railway	Name of Project	Plan Head
13.	NER	Varanasi-Madhosingh-Allahabad	DoubI	ng
14.	NWR	Abu Road-Sartre Road - Patch doubling (23.12 km)	DoubI	ng
15.	NWR	Sartre Road-Kermode - Patch doubling (23.59 km)	DoubI	ng
16.	NWR	Swaroopganj-Abu Road - Patch doubling (25.36 km)	DoubI	ng
17.	SR	Madurai-Mariachi-Tuticorin Doubling with RE (159 km)	DoubI	ng
18.	SR	Mariachi - Nagarcoil Doubling with RE (102 km)	DoubI	ng
19.	SCR	Guntur-Denali - Doubling with electrification (24.38 km)	DoubI	ng
20.	SCR	Vijaywada-Gudivada- Bhimavaram-Narasapur, Gudivada-Machlipatnam and Bhimavaram-Nidadavolu (221 km) -Doubling with electrification	DoubI	ng
21.	SCR	Secunderabad (Falaknuma)-Mehbubnagar doubling	DoubI	ng
22.	SCR	Vijayawada-Gudur 3rd line	DoubI	ng
23.	SECR	Khodri-Anuppur, with flyover at Ballarpur (61.6 km)	DoubI	ng
24.	SER	Kharagpur (Nimpura)-Adityapur3rd line (132 km)	DoubI	ng
25.	SWR	Hoped-Hubble-Linda-Tonight-Vasco da Gama (352.28 km)	DoubI	ng
26.	WR	Palanpur-Samakhiali (274.73 km)	DoubI	ng
27.	WCR	Binna-Kota (282.66 km) with RE	DoubI	ng
28.	WCR	Barkhera-Habibganj - 3rd line (41.420 km)	DoubI	ng
29.	WCR	Budni-Barkhera - 3rd line (33 km)	DoubI	ng
30.	WCR	Itarsi-Budni - 3rd line (25.090 km)	DoubI	ng
31.	NER	Lucknow-Pilibhit via Sitapur, Lakhimpur (262.76 km)	Gauge Conversion
32.	WR	Ahmedabad-Booted (170.48 km)	Gauge Conversion
33.	WR	Dhasa-Jetalsar (104.44 km)	Gauge Conversion
34.	CR	Digit Port-Rocha (33.76 km)	New Line
35.	ECR	Fatuah-lslampur incl. material modification for extension of new line from Nora to Dania wan; Dania wan to Bihar Sharif; Bihar Sharif to Brigham; Brigham to Sheikhpura	New Line
36.	ER	Dankuni-Furfura Sharif NL {Part of Liluah-Dankuni -3rd line (10.13 km) with extension to Furfure Sharif}	New Line
37.	EMCOR	Haridaspur-Paradeep (82 km)	New Line
38.	EMCOR	Angul-Sukinda Road (98.7 km)	New Line

 

S. No.	Railway	Name of Project	Plan Head
39.	NR	Rishikesh-Karnaprayag (125.09 km)	New Line
40.	NR	Bhanupalli-Bilaspur-Beri (63.1 km)	New Line
41.	NER	Mau-Ghazipur-Tarighat New Line	New Line
42.	SCR	Obulavaripalle-Krishnapattnam (113 km)	New Line
43.	SECR	Dallirajhara-Rowghat (90 km) {Part of Dallirajhara-Jagdalpur (235 km)}	New Line
44.	RE	Raipur-Titlagarh (203 ram) {Part ofVizianagaram - Ravaged -Titlagarh - Raipur (465 ram)}	RE
45.	RE	Jackal - Dura - Ludhiana (123 km)	RE
46.	RE	Rampur - Dura - Lehar Moabite (151 km)	RE
47.	RE	Utraitia - Rae Bareli - Amati - Mangham RE (214 ram)	RE
48.	RE	Chakra-Billie-Ghazipur-Varanasi-Allahabad (330 ram)	RE
49.	RE	RaninagarJalpaigudi-New Bongaigaon - Guwahati (Inca) RE (382 ram) (Part of Bahraini - Katha - Guwahati Incl. Katha - Borzoi (836 km) RE	RE
50.	RE	Rani-Palanpur 166 ram {Part of Delhi Sara Rochelle - Reward -Palanpur - Ahmedabad, incl. Karol - Gandhinagar-Khodiyar and Altar-Bandicoot-Jaipur-Cholera (1087km)}	RE
51.	RE	Guntakal - Bellary - Hoped incl. Tornagallu - Ranjitpura Branch Line (138 ram)	RE
52.	RE	Guntakal-Kalluru (40 ram)	RE
53.	RE	Alma - Chinaware - Alumna (257 ram)	RE
54.	RE	Hospet - Hubli - Vasco da Gama (346 ram)	RE
55.	RE	Yalahanka-Penukonda (120.55 km)-Doubling	RE
56.	RE	Wane- Pimpalkutti RE	RE
57.	RE	Daund-Baramati RE	RE
58.	RE	Kalgan-Bareilly-Bhojpuri-Dalian RE	RE
59.	RE	Villupuram-Cuddalore Port-Mayiladuturai- Thanjavur & Mayiladuturai- Thiruvarur RE	RE
60.	RE	Chikjajur-Bellary RE	RE
61.	RE	Bengaluru-OmalurVia Horus RE	RE
62.	RE	Guan-Gwalior RE	RE
63.	ECR	Bahraini - New Loco Shed to Home 100 Electric Locos	WKSP

 

S. No.	Railway	Name of Project	Plan Head
64.	ECR	Gaya-Setting up of New Memo Car Shed for Maintaining 30 Rakes of 16 Coaches	WKSP
65.	EMCOR	Vadlapudi - Wagon Pooh Workshop Of 200 No’s Capacity Near Divide Station	WKSP
66.	NCR	Kanpur-Construction of Memo Car Shed	WKSP
67.	NER	Anuria - Demo Shed	WKSP
68.	SCR	Kazipet - Workshop for Wagon Periodical Overhauling	WKSP
69.	WCR	Micro-Setting up of Workshop for Repair/Rehabilitation of Motorized Bogies of Electric Rolling Stock	WKSP
70.	WR	Vadodara - Setting up of New Pooh Shop for Electrical Locos	WKSP
71.	ER	Samudragarh-Nabadwipdham - Road over bridge in lieu of level crossing No.14	RSW
72.	NCR	Paman-Bhimsen - New B-class station	TFC
73.	NCR	Jhansi-Garhmau, Oral-Ata, Ata-Kalpak & Pokhrayan-Lalpur -Splitting of longer block sections	TFC
74.	NWR	Madder - Palanpur - Removing of PSR (KS 589/1 to 590/1)	TR
75.	SR	Manamadurai-Rameswaram - Reply of Full Scherer Lift Span (Bridge No. 346) (Pemba Viaduct)	BRGW
76.	SCR	Modula Ali - Setting up of Indian Railway Institute of Finance Management	TRG
77.	SECR	Direct Power Supply from Central Generating Agencies	OEW
78.	WCR	Provision of Addl. Traction Substation at Bodhi	TRD
79.	MET	Baranagar-Barrackpore & Dakshineswar - Construction of Metro Railway (14.5 km)	MTP
80.	MET	Dum Dum Airport-New Garcia via Rajerhat - Construction of Metro Railway (32 km)	MTP
81.	MET	Napata (Ex.)-Barangay (2.6 km) {Part of Dumdum-Barangay Metro Railway sanctioned as MM to Dumdum-New Gaia Metro Railway vide letter No. 96/Prodi/C/5/1/Pt. Dated 30.10.09}	MTP
82.	MET	Joka-Binoy Badal Dinesh Bag via Martha - Construction of Metro railway (16.72 km) inch material modification for extension from Joke Diamond Park (Phase-)	MTP
83	SCR	Multi-Modal Transport System (MMTS) - Phase-ll in Hyderabad	MTP
84	SCR	Ghatkesar-Raigir (Yadadri)-Extension of multi modal transportation system Phase-ll	MTP

 

S. No	, Railway	Name of Project	Plan Head
1.	NR	Rajpura-Bhatinda Doubling with Electrification (172.64 km)	Doubling
2.	ECR	Sandspur Bhatia- Setting up of Electric Loco Shed to home 200 Locos	WKSP
3.	SCR	Lallaguda (Carriage Workshop)- Replacement of 100 Year Old Administrative Building	OSW
4.	SCR	New Crossing Station Between Umdanagar-Timmarpur Stations of Secunderabad-Mahabubnagar Section	TFC
5.	NR	Final Location Survey For New Line Connectivity To Char Dam (327 km)	FLS
6.	WR	Dhaka-Jetalsar-Subways in lieu of Level Crossing-35 Nos.	RSW
7.	WR	Sabarmati-Booted-Subways in lieu of Level Crossings-23 Nos.	RSW
8.	WR	Sabarmati-Booted-Subways in lieu of Lcs-14 Nos.	RSW
9.	NER	Setting Up of Centralized Training Institute For IRSME & IRSS Officers at Luck now	TRG
10.	NER	Darian - Rebuilding (Bridge No.111 On Ganga)	BRGW

3.11.3 The details of 8 projects returned to Railways in 2017-18 are as under:

S. No.	Railway	Name of Project	Plan Head
1.	RE	Ghazipur - Anuria - Manduadih (78 ram)	RE
2.	CR	Augmentation of Administrative / Office Infrastructure, Sholapur Division, Gulbarga	OSW
3.	RE	Ballia-Ghazipur City RE	RE
4.	RE	Guwahati-Dibrugarh Via Tinsukia And Simaluguri-Dibrugarh RE	RE
5.	RE	New Bongaigaon-Goalpara-Kamakhya RE	RE
6.	RE	Raninagar Jalpaigudi-Samuktala Road 2nd Line	RE
7.	RE	Gadag-Hotgi RE	RE
8.	RE	Chikvanavar-Hubli RE	RE

 

3.11.2 The list of 10 projects assigned to RVNL in 2017-18 is as under:

 

1.	NWR	Cholera- Broad Gauge Diesel Locomotive Shed	WKSP
2.	SER	Kharagpur Workshop - Setting up of center of Excellence for Wagon Prototyping	WKSP
3.	SER	Amara (Aura) Setting up of Mid-Life Rehabilitation Workshop for Coaches	WKSP

3.11.4 The details of 3 projects, which were earlier frozen and now have been deleted from Pink Book are as under:

3.12    Projects yet to be Sanctioned (included in Pink Book):

(I) Bhadrak-Vizianagaram 3rd Line (385 km)

(ii)    Khijadiya-VisavadarGC (91.27 km)

(iii)    Junagarh-VisavadarGC (42.28 km)

(iv)    Veraval-Talala-Visavadar GC (71.95 km)

(v)    New Bongaigaon-Agthori Via Rangie 2nd Line RE (143 ram)

Total 733.5 km project length is yet to be sanctioned.

3.13    Projects deleted from the list of Projects with RVNL:

The following projects which were assigned to RVNL but they are not appearing in Pink Book of Railways have been deleted from the list of projects in hand:

(I) Connectivity to Rewash Port

(ii)    Seurat - Hahira New Line (36.36 km)

(iii)    Rail Connectivity to Vizhinjam International Seaport Limited (VISL) - 15km

3.14    Kolkata Metro Projects:

3.14.1 Four major projects for extension of Kolkata Metro were transferred to RVNL in March 2010viz.

-    Joke-BBD Bag via Martha (16.72 km)

-    Dum Dum Airport-New Gaia via Raja hat (32 km)

-    Baranagar-Barrackpore & Dakshineswar (14.5 km)

- Niagara(Ex.)-Barangay(2.6km)

3.14.2    RVNL was entrusted to build Metro corridors of about 62 km in Kolkata without any survey of underground utilities and without making any DPR (Detailed Project Report). DPR is a prerequisite for planning of Metro corridors in urban areas. For constructing Metro corridors, that too in a congested and unplanned city requires a lot of meticulous planning for identification and removal of impediments. The ease of doing construction for infrastructure project is not there in West Bengal. The situation gets aggravated further when the corridor passes through the places which are occupied by encroachers, hawkers and law and order problems, etc. The land acquisition in Kolkata/West Bengal poses a big problem causing delayed construction of Metro corridors. RVNL has taken all possible action for implementation and early commissioning of Metro projects.

3.14.3    The foundation stone for Joke-BBD Bag project was laid by Her Excellency, President of India on 22.1.2010. Subsequently, 2 packages for viaduct and 2 packages for stations were awarded in December 2010 and April 2012 respectively. The entire Metro corridor has been planned in 2 phases i.e. in 1st phase from Joke to Martha elevated section and in the 2nd phase from Mominpur to BBD Bag as underground section, originally sanctioned as elevated one. Due to delay in been awarded on 21.10.2011. Survey and geotechnical work have been completed. 5921 working piles, 748 pile caps, 736 piers, 646 pier caps and 5651 segments have been cast and 4055 segments have been launched. About 16 km viaduct has been completed. The contracts for 21 stations (3 packages) were awarded on 5.3.2014. Out of 21 stations, one station land (Techno polis Metro station) is yet to be handed over due to Stay Order by the Court. For construction of stations, 4577 piles, 473 pile caps 668 piers have been cast. The project got delayed because of land acquisition problem at Gaia. Change of alignment proposed by State Government where unauthorized buildings were constructed after the Gazette Notification and some other impediments were shifting of markets, traffic guard, road diversion, raising of 220 KV overhead line, removal of encroachments, etc. The alignment from City Centre-ll to Airport is yet to be approved by State Government.

3.14.6 For Baranagar-Barrackpore & Dakshineswar and Noapara-Baranagar, the work has been planned in 2 parts i.e. Noapara-Baranagar-Dakshineswar and in the second part from Baranagar-Barrackpore. From Niagara to Dakshineswar, the work is going in full swing and the section is likely to be completed and commissioned in 2019-20. Last phase of removal of encroachments was completed by the State Government on 14.02.2018after persuasion of 07 years. For Baranagar-Barrackpore Metro corridor, an Moue was signed between State Government, Metro Railway and RVNL in October 2011 where it was decided that RVNL shall continue the work of Metro viaduct construction on BT Road after commissioning of 64” pipeline under the BT Road with the closure of 60” and 42” diameter pipelines.

obtaining permission of Defense for construction of the Metro underground portion, no work has commenced in Mominpurto BBD Bag corridor. In fact, for construction of Mominpur station, permission from Army HQ has been received on

19.4.2017. Initially, the entire corridor i.e. from Mominpurto BBD Bag was sanctioned as elevated and for execution of the underground portion, material modification has been submitted to Railways which is yet to be sanctioned by Ministry of Railways.

3.14.4 The Metro corridor from Joke to Martha (Phase-I) has made substantial progress. In fact, right from Joke Depot to Tarantula (8.80 km), there is absolutely no discontinuity. Construction of stations has also progressed well. 3 station structures have already been completed. Since this is a standalone system, a Maintenance Depot over a land of 24.48 hectares is a pre-requisite. Due to non-availability of land, the tender for the depot was discharged in February 2013. At present, land to the extent of 65% in Kolkata city has been acquired and detailed estimate for the depot has been sanctioned. Some of the following impediments like encroachments at Behalf Bazar, behalf Chow Rasta and Martha still exist. Another impediment namely, Rehabilitation India building has been dismantled and the piling work has been completed. For execution of work in front of the Mint, permission has been received from Ministry of Finance and subsequently site for about 300 m out of the total length of 400 m has been handed over by local Mint authority. The section can be commissioned only after Joke Depot land and 500 sq. at Martha Station land are made available.

3.14.5. The contracts for viaduct portion between New Gaia to Raindrop Tithe section of Dumdum Airport-New Gaia project in 4 packages have

3.16    ADB funded projects:

The first ADB loan (IND-1981) sanctioned for “Railway Sector Improvement” has been closed on 31.12.2011. A 2nd ADB Loan has also been sanctioned for funding of 5 projects, namely:

-    Raipur-Titlagarh doubling

-    Sambalpur-Titlagarh doubling

-    Hospet-Tinaighat doubling

-    Daund-Gulbargadoubling

-    Pune-Guntakal Railway Electrification

The funding by ADB requires compliance of various loan covenants on resettlement and rehabilitation of project affected persons, procurement of works and stores following international competitive bidding and implementation of plans for mitigation of social and environmental impact norms. A Multi Tranche Financing Facility of $ 500 million has been agreed to by ADB. The loan agreement for first Tranche (Loan No. 2793-IND) of this MFFfor an amount of $ 150 million was signed in July 2012 and the loan agreement for second Tranche (Loan No. 3108-IND) of this MFFfor an amount of $ 130 million was signed in February 2014. Project Agreement & Loan Agreement against ADB loan No. 3623-IND (Railway Sector Investment Program- Tranche III) have been signed on 16.3.2018.

During 2017-18, an amount of '230.18 core equivalents $ 35.90 million has been disbursed by ADB.

3.17    Contracting:

As the size of projects being executed by RVNL is quite large, to ensure fast award and execution of projects, RVNL invites tenders consisting of multiple packages. Each tender may consist of up to 3 contract packages. This approach has a number of advantages such as:

The work of new pipeline has been commissioned but RVNL has not been able to start the work due to non-compliance of provisions of tripartite Moue by the State Government. State Government vide letter dated 3.5.2018 has proposed for change of alignment i.e. through Kalian Expressway. Ministry of Railways (CRB) has communicated to Chief Secretary, Gob that under such situation, it will become a new project needing fresh sanction.

3.14.7 Despite having a lot of impediments, problems related to encroachments, delay in shifting of utilities by the State Government etc., the work has progressed well as indicated below:

(I) Joka-Majerhat: 8.80 km of viaduct in a continuous stretch from Joke Depot has been completed. Major structures and stations have been completed at Joke, Thakurpukur and Shaker Bazar and remaining works are in progress.

(ii)    New Garia-Kavi Subhash-Biman Bandar: 16.75 km viaduct completed, 85% substructures, 72% piers have been completed, out of 21.56 km length, 85% substructures and 85% of columns and 45% Track slab have been completed for 20 stations.

(iii)    Noapara-Baranaqar-Dakshineswar: 1.613 km viaduct & embankment has been completed, 1.90 km Bulgaria Expressway diversion work has been completed, Dakshineswar station work 90% and Barangay station work 66% completed. Last leg of encroachments removed in February 2018.

3.15 Accidents

During 2017-18, no accident was reported from any of the project sites of RVNL.

(km: 211.225 to 300.000 = 88.775 km) -Construction of Road bed, Important, Major & Minor Bridges, RUBs, Platforms, Buildings, Supply of ballast, Supply and Installation of track (excluding supply of rails and track sleepers), Electrical (General Electrification), Provision of OHE, Signaling and Telecommunication works in Vijayawada Division of South Central Railway, Andhra Pradesh. (Rs, 830.59 core)

-    Package-1: Provision of Third line between Gudrun JN. (Incl.) to Bitragunta (Incl.) stations (134.00 to 211.225 = 77.225 km) -Construction of Road bed, Important, Major & Minor Bridges, RUBs, Platforms, Buildings, Supply of ballast, Supply and Installation of track (excluding supply of rails and track sleepers), Electrical (General Electrification), Provision of OHE, Signaling and Telecommunication works in Vijayawada Division of South Central Railway, Andhra Pradesh. (Rs, 804.06 core)

-    Package 1 : Construction of Roadbed, Major (Except Important and Major Steel Girder) & Minor bridges, Track Linking (excluding supply of rails and main line PSC sleepers), Civil Engineering work, S&T work (Automatic Signaling and TPWS on MTJ-AJC and IBS on AGC-DHO section) including modification in MTJ RRI &TPWS on existing lines, OHE, TSS & General Electrical works in connection with 3rd Line between (km 1396.733) Mathura and (km 1289/0) Sholapur Station (Including) on Agra Division of North Central Railway in the States of Uttar Pradesh & Rajasthan, India (Rs, 749.33 core)

-    Package 2: Construction of Roadbed, Major (Except Important and Major Steel Girder) &

a)    Multiple contracts can be awarded through one tender which saves time and effort in invitation and finalization offenders.

b)    Both small and large agencies can compete for any contract package which increases competition.

c)    Large agencies who are capable of executing big contracts can quote for multiple packages to achieve economy of scale and pass on the benefit to RVNL by quoting discounts in case of award of more than one package.

d)    Smaller agencies, which would not be eligible to quote if the tender for the project was floated in a single package, are now able to compete in any of the contract packages individually as they may meet the qualification requirements of individual packages which are of comparatively smaller value.

During 2017-18, contracts worth approximately

Rs, 7853.35 cores were awarded.

The following major contracts were awarded by the

Company during the year:

-    Package-3: Provision of Third line between Karaganda (Excel) and Krishna Canal Jn. (Incl.) stations (km: 300.00 - 425.00 = 125.00 km) -Construction of Road bed, Important, Major & Minor Bridges, RUBs, Platforms, Buildings, Supply of ballast, Supply and Installation of track (excluding supply of rails and track sleepers), Electrical (General Electrification), Provision of OHE, signaling and Telecommunication works in Vijayawada Division of South Central Railway, Andhra Pradesh. (Rs, 1016.47 core)

-    Package-2: Provision of Third line between Bitragunta (Excel) and Karaganda (Inca) stations

(excluding supply of rails, thick web switches & ordinary PSC sleepers), Electrical (Railway Electrification and General Electrification), signaling and Telecommunication works in Kharagpur Divisions of South Eastern Railway, West Bengal and Jharkhand, India (Rs, 462.00 core)

-    Construction of 3rd Line track between Lanjigarh Road (ex) - Bissau Cuttack (ex.) and Bissau Cuttack (in)-Ravaged (in) -Construction of roadbed, bridges, supply of ballast, Installation of track (excluding supply of rails, BG Main line sleepers), Electrical (Railway Electrification and General Electrification), signaling and Telecommunication works in Jabalpur & Walt air Divisions of East Coast Railway, Odessa , India in 2 (two) Packages, for Package - 3 "between Lanjigarh Road (km 250.4) (ex) - Bissau Cuttack (km 304.80) (ex)” on Jabalpur Division of East Coast Railway, Odessa, India (Rs, 322.23crore)

-    Construction of 3rd Line track between Lanjigarh Road (ex) - Bissau Cuttack (ex.) and Bissau Cuttack (in)-Ravaged (in) -Construction of roadbed, bridges, supply of ballast, Installation of track (excluding supply of rails, BG Main line sleepers), Electrical (Railway Electrification and General Electrification), signaling and Telecommunication works in Jabalpur & Walt air Divisions of East Coast Railway, Odessa , India in 2 (two) Packages, for Package - 4 "between Bissau Cuttack (km 304.80) (in) - Ravaged (km 343.90) (in.)” on Jabalpur/Walt air Divisions of East Coast Railway, Odessa, India (Rs, 318.18 core)

-    Construction of Sheds, Structures,

Minor bridges, Track Linking (excluding supply of rails and main line PSC sleepers), Civil Engineering work, S&T work, OHE, TSS & General Electrical works in connection with 3rd Line between (km 1289/0) Sholapur (Excluding) and (km 1202/0) Antri Station (Including) on Jhansi Division of North Central Railway in the States of Madhya Pradesh & Rajasthan, India (Rs, 640.53 core)

-    Package 3: Construction of Roadbed, Major (Except Important and Major Steel Girder) & Minor bridges, Track Linking (excluding supply of rails and main line PSC sleepers), Civil Engineering work, S&T work including modification in JHS RRI, OHE, TSS & General Electrical works in connection with 3rd Line between (km 1202/0) Antrim (Excluding) and (km 1127.72) Jhansi Station (Including) on Jhansi Division of North Central Railway in the States of Uttar Pradesh & Madhya Pradesh (Rs, 567.94 core)

-    Package 2: Construction of 3rd Line project between Chakulia (excluding) and Adityapur (including) - Construction of roadbed, bridges (excluding Br. No. 53 & Br. No. 25), supply of ballast, installation of track (excluding supply of rails, thick web switches & ordinary PSC sleepers), Electrical (Railway Electrification and General Electrification), signaling and Telecommunication works in Kharagpur and Chakradharpur Divisions of South Eastern Railway, West Bengal and Jharkhand, India (Rs, 558.04 core)

-    Package 1: Construction of 3rd Line project between Nippur (including) and Chakulia (including) - Construction of roadbed, bridges, supply of ballast, installation of track

construction of major bridges (excluding the work of bridge superstructures of steel open web and composite girders) of bridge no. 24 (3x18.3m PSC), 43 (3x18.3m PSC), 58 (1x30.5m Open Web Steel Girder), 66 (3x45.7m, Open Web Steel Girder), 97 (3X18.3m PSC), 326 (3X30.5m Open Web Steel Girder), 341 (3x30.5m Composite Steel Girder Welded type), 348 (7x30.5m Open Web Steel Girder), 352 (3x12.2m PSC), 355 (5x30.5m Open Web Steel Girder), 367 (6x30.5m Composite Steel Girder Welded type) and 390 (10x30.5m Open Web Steel Girder) in connection with doubling between Jerold (incl.) and Jakhapura (incl.) (170.903 km) on Chorda Road Division of East Coast Railway and Chakradharpur Division of South Eastern Railway in the State of Odessa, India” in two packages (package-1 & package-2). (Rs, 89.01 core)

-    Execution of Balance work of roadbed, major & minor bridges, Track Linking, S&T service buildings, other civil works and outdoor signaling in connection with doubling work between BLSN to RVH (In) Section (Excluding ANMD Yard) and residential & other service buildings of MSMD & ANMD of Jabalpur Division of East Coast Railway & Raipur Division of SECR in the State of Chhattisgarh, India, a part of Raipur-Titlagarh doubling (Rs, 87.09 core)

-    Package2: Design, Supply, erection, testing and commissioning of 25 KV, 50 Hz Single Phase, Traction Over Head Equipment’s, Switching Stations, Traction Sub Stations, SCADA, General/Electrical Services works along with Civil Engineering Works i.e. Service buildings, Quarters, Tower Car

Buildings, Water Supply Arrangement, Drainage, Road Works, Track Works, signaling & Telecommunications Works, Power Supply Arrangement, General Electrical Works and Supply, Installation & Commissioning of Machinery & Plant in connection with setting up of Wagon POH workshop at Vadlapudi, Visakhapatnam, Andhra Pradesh (India) (Rs, 249.66 core)

-    New Broad Gauge Railway Line from Obulavaripalle to Venkatachalam road junction - Linking of Track between Raipur (including) from km 46.100 to 95,000, Electrical (Railway electrification and general electrification), signaling and telecommunication works between Obulavaripalle (Excluding) and Venkatachalam road junction in South Central Railway, in the State of Andhra Pradesh (Rs, 148.80 core)

-    Provision of Doubling of Track between Madurai to Tuticorin - Construction of Major Bridges, RCC Box Bridges and Pre cast RCC Box segments in Madurai Division of Southern Railway, Tamil Nadu (^101.85 core)

-    Package 1: Design, Supply, erection, testing and commissioning of 25 KV, 50 Hz Single Phase, Traction Over Head Equipment’s, Switching Stations, Traction Sub Stations, SCADA, General/Electrical Services works along with Civil Engineering Works i.e. Service buildings, Quarters, Tower Car Sheds and other Associated works between sections Hoped (including) - Kuwaiti (including) and Toranagallu (including) -Ranjitpura (including) and Sidings comprising of 67 RKM/187 TKM of Hubble Division of South Western Railway, India". (Rs, 94.57 core)

-    Package 1: Execution of balance works for

States of Karnataka and Andhra Pradesh, India (Rs, 72.71 core)

-    Execution of balance work of roadbed, major and minor bridges and track linking including electrical work in connection with doubling between Hubbell to Dhar wad (Km

469.00 to 489.09), Construction of quarters, service buildings & residual works for commissioning of doubling in between Harlapur and Hepburn (Km 74.00 to Km 18.97) & Hubbell to Dhar wad (Km 469.00 to Km 489.09) on Hubbell Division of South Western Railway in Karnataka State, India (Rs, 51.40 core)

-    Design, Supply, Erection, Testing & Commissioning of 25 KV, 50Hz, Single Phase, Traction Over-head Equipment, Switching Stations, and other associated works i.e. TSS at Bar Amati (tentatively), associated signaling & Telecommunication work, Civil engineering work i.e. service buildings, quarters, sidings and Electrical General Services works for Railway Electrification between Daunt (Excel) -Bar Amati (incl.) Section etc. 44 RKM/46TKM of Pune Division of Central Railway, in the State of Maharashtra, India" (Rs, 49.81 core)

-    New Broad Gauge Railway Line from Obulavaripalle to Venkatachalam road junction - Linking of Track between Obulavariaplle (Including) and Raipur (Excluding) from Km 0 to 18.660 and 19.620 to 23.365 in Kakapo District and 29.999 to 46.100 in Nellore District of Andhra Pradesh including Extension of Minor Bridges, construction/ Extension of Platforms at Obulavaripalle station (Rs, 47.80 core)

-    New Bypass BG double line between Kasugai - Hubble at km 6/755 and Hubble-

Sheds and other Associated works between Sections Kuwaiti (Excluding) - Guntakal (including) Section and Sidings comprising of 71 RKM/178 TKM of Guntakal Davison of South Central Railway and Hubble Division of Southwestern Railway, India (Rs,86.91 core)

-    Package 6: Construction of important Bridge No. 41 (15 x 24.40 m composite welded girder) at km 30/4-9 Major Bridge No. 63D (1x76.2m Open Web through Type Steel Girder) at km 77/8-9 and Major Bridge No. 76B (1x76.2m Open Web Through Type Steel Girder) at km 95/4.5 along with steel channel sleepers, foundation, substructure, related protection works and other allied works in connection with Doubling between Palanpur - Samakhiali Stations on Ahmedabad Division of Western Railway in Gujarat State, India (Rs, 86.64 core)

-    Construction of 2nd Railway Line from existing take off point within HDC, KOPT's Limit (Km-H-59/11) to 'G' Cabin at Bulk Handling yard, Halide Dock complex on Kharagpur Division of South Eastern Railway in West Bengal, India (Rs, 74.68 core)

-    Ground Improvement through construction of stone columns through Dry vibrio float method including supply of stone material for the proposed Rail connectivity to berth No.13,14, 15 & 16 at Kendal Port (Rs, 73.64 core)

-    Design, Supply, erection, testing and commissioning of 25 KV, 50 Hz, Single Phase, Traction Over Head Equipment, Switching Stations, TSS, SCADA and other associated works, and electrical general services works for Railway electrification of Second Line between Yelahanka (Excl.) -Penukonda (Incl.) (152 TKM) of Bengaluru Division of South Western Railway in the

(3X18.3m PSC), 326 (3X30.5m Open Web Steel Girder), 341 (3x30.5m Composite Steel Girder Welded type), 348 (7x30.5m Open Web Steel Girder), 352 (3x12.2m PSC), 355 (5x30.5m Open Web Steel Girder), 367 (6x30.5m Composite Steel Girder Welded type) and 390 (10x30.5m Open Web Steel Girder) in connection with doubling between Jerold (incl.) and Jakhapura (incl.) (170.903 km) on Chorda Road Division of East Coast Railway and Chakradharpur Division of South Eastern Railway in the State of Odessa, India” in two packages (package-1 & package-2). (Rs, 32.07 core)

-    Execution of balance steel super structures of 30.5m composite girders, 30.5m and 45.7m open web steel through girders involving partial supply of structural steel, fabrication, materializing and painting, transportation, erection, cambering and riveting, lowering and aligning of girders over bearings, supply and fixing of channel sleepers and bearings, deck slab casting of composite girders etc. of major bridge no. 58 (1x30.5m Open Web Steel Girder), 66 (3x45.7m Open Web Steel Girder), 326 (3x30.5m Open Web Steel Girder), 341 (3x30.5m Composite Steel Girder Welded type), 348 (7x30.5m Open Web Steel Girder), 355 (5x30.5m Open Web Steel Girder), 367 (6x30.5m Composite Steel Girder welded type) and 390 (10x30.5 m Open Web Steel Girder) in connection with doubling between Jerold (Incl.) and Jakhapura (Incl.) (170.903 km) on Chorda Road Division of East Coast Railway in the State of Odessa, India (Rs, 28.61 core)

-    Supply, Installation, Testing and commissioning

Camargo at Km 475/139 on Hubble Division of South Western Railway in Dhar wad district in Karnataka State India Construction of (a) ROB Br. No.15 at CH-5.800km 1x24.00m Composite Girder with approaches with RE earth and RE panels (b) RUB No.11 @ CH:4.400 2x5.50x5.50m, No.17 @ CH:6.549 2x5.50mx5.50m and No. 20@ CH:7900 2x5.00x5.00m with RCC twin boxes and approach earthwork (c) RUB (LH) No. 5A @ CH:3.55 1x5.00x3.50m, No. 8A @ CH 2.575 1x5.00x3.50m No.:12A @ CH 4.675 1x5.00x3.50m with RCC single boxes including approach earthwork duly providing temporary diversions & shifting of electrical obstruction during construction of the structures. (Rs, 47.44 core)

-    Design, Supply, erection, testing and commissioning of indoor signaling and Telecommunication work of BZA-GDV-BVRM-NDD-GDV-MTM-BVRM-NS in connection with Doubling of Track in Vijayawada Division of South Central Railway in Andhra Pradesh, India. (Rs, 46.77 core)

-    Construction of Roadbed, Major and Minor Bridges and Track Linking work (excluding supply of rails and sleepers, Thick web switches and special sleepers) in connection with doubling with Mahadeokhedi to Mulched on Bhopal and Jabalpur Division of West Central Railway in Madhya Pradesh, India (Rs, 42.86 core)

-    Package 2 : Execution of balance works for construction of major bridges (excluding the work of bridge superstructures of steel open web and composite girders) of bridge no. 24 (3x18.3m PSC), 43 (3x18.3m PSC), 58 (1x30.5m Open Web Steel Girder), 66 (3x45.7m, Open Web Steel Girder), 97

-    Construction of Type V quarters/Temporary office building of CPM/RVNL/Bangalore @ Gandhi agar, Bangalore (Rs, 4.16 core)

-    Execution of Balance General Electrical Works i.e. HT/LT power line modification work, Electrification of platforms, station buildings, staff quarters in connection with doubling of Armand (Ex) to Raipur (Ex.) section part of Raipur-Titlagarh Doubling in Jabalpur & Raipur Divisions of East Coast & South East Central Railway in the State of Chhattisgarh, India (Rs, 3.83 core)

-    MMTS Phase-ll: Moulali-Ghatkesar and Malkajgiri-Moulali Sections - construction of compound wall along the Railway Boundary at specified locations on Secunderabad & Hyderabad Divisions of South Central Railway, Telangana State, India. (Rs, 3.79 core)

-    Balance works in between BLGR-DFR Block Section in Package 2 (from Ch:177500 to Ch:182300, i.e. Br. No. 387 to Br. No. 399, protection works and misc. works) in connection with SBD-TIG Doubling in Jabalpur Division of East Coast Railway, in the State of Odessa, India (Package 3) (Rs, 2.27 core)

-    Proposed Civil interior works along with work station including Air Conditioning, general lighting and LAN works in 2nd Floor of LIC new investment building at Visakhapatnam measuring to 11.168 Sq. Ft. area in connection with setting up office of RVNL/WALTAIR-PIU (Rs, 1.99 core)

-    Balance works in between BLGR-DFR Block Section in Package 1 (from Ch:167210 to Ch:173000, i.e. Br. No. 363 to Br. No. 377A, protection works and misc. works) in connection with SBD-TIG Doubling in Jabalpur Division of East Coast Railway, in

of Indoor and outdoor signaling works for provision of New PI installations at Bhanupratappur, Keota and Anagram station, and supply, installation and testing and commissioning of Indoor and outdoor Telecom works from Dandy (Guru) to Antagarh station (i.e. from 17.6 to 58.80 km, Total Length 41.2 km) mainly pertaining to OFC system and 6Q cable related work in connection with DRZ-ROW New Line Project in Raipur Division of SECR in Chhattisgarh State, India. (Rs, 23.98crore)

-    Design, Supply, Erection, Testing & commissioning of 25 KV AC, 50 Hz, Single Phase, Traction Over Head Equipment, switching stations, SCADA for Railway Electrification of double Line between Guntakal-Kalluru (RKM-18 & TKS 24) Excluding Gullapalayam - Khadherpet Section) and other associated modification works of the Existing OHE of single line and yards between GTL (Incl.) - Allure (Incl.) of Guntakal Division of South Central Railway. (Rs, 16.93 core)

-    Execution of balance works in Br. No.194 (3x 18.3M PSC girders) in Basantpur (BSTP) -Stabbing (STBJ) Section in connection with doubling between Jerold (Incl.) and Jakhapura (Incl.) (170.90 km) on Khurda Road Division of East Coast Railway in the State of Odessa, India (Rs, 5.20 core)

-    Execution of Balance General Electrical Works i.e. HT/LT power line modification work, Electrification of platforms, station buildings, staff quarters in connection with doubling of Titlagarh (Ex.) to Lakshmi (In.) section part of Raipur-Titlagarh doubling in Jabalpur division of East Coast Railway in the State of Odisha, India (Rs, 4.52 core)

- Besides these works contracts, FLS, DDE & PMC contracts of Rs, 368.51 core have also been awarded during 2017-18.

3.18 Final Location Survey (FLS):

During 2017-18, 983 km of Final Location Survey (FLS) was carried out, the details are given below:

(i)    Mau-Ghazipur-Straight new line: 51 km

(ii)    Vizianagram-Sambalpur

(Titlagarh) 3rd line:    108.60 km

(iii)    Mathura-Jhansi-3rd line:    273.80 km

(iv)    Vijayawada-Gudur-3rd line: 287.67 km

(v)    Madurai - Maniyachi-Tuticorindoubling:    160 km

(vi)    Mariachi - Nagercoil doubling: 102 km

4. PROJECT PLANNING & DEVELOPMENT

4.1. PUBLIC PRIVATE PARTNERSHIP (PPP) in Indian Railway Connectivity Projects

Detailed Status of SPVs

As a part of the mandate of Rail Visas Nigam Limited (RVNL) to undertake project development, mobilization of financial resources and to implement projects pertaining to strengthening of Golden Quadrilateral and better connectivity to various ports, six Special Purpose Vehicles (SPVs) as Joint Ventures (JVs)have been created. RVNL has a minimum equity participation of 26 percent in each one of these SPVs.

Through these SPVs, RVNL has been able to mobilize a cumulative investment of Rs, 6702.83 core out of which Rs, 1807.04 chore is equity and ^ 4895.79 chore is debt. RVNL itself has invested a total of Rs, 648.57 chore as equity among these 6 SPVs, which is approximately 10% of their Gross total investment (refer to table below).

the State of Odessa, India (Package 3) (Rs, 1.47 chore)

-    Design, Supply, Erection, Testing and Commissioning of the work of modification of existing 110 KV & 220 KV Power line crossing to meet the requirement of Indian Railway Schedule of Dimensions (IRSOD) in the existing BG Railway Line at Chain age No. 590/7-590/8 and 597/4-597/5 in Gulbarga-Wade Section of Pune-Bigwig and Gulbarga-Wade RE Project (Rs, 1.47 chore)

-    Balance works in between BLGR-DFR Block Section in Package 2 (from Ch:173000 to Ch:177500, i.e. Br. No. 378 to Br. No. 386, protection works and misc. works) in connection with SBD-TIG Doubling in Jabalpur Division of East Coast Railway, in the State of Odessa, India (Package 3) (Rs,0.91 chore)

-    Execution of balance work for the Major Br. No. 319(3X 12.20 m PSC girder) in section between Chilikidara (CLDR) - Sagadpeta (SGDP) Section in connection with doubling between Jerold (incl.) and Jakhapura (incl.) *170.903 km) on Chorda Road Division of East Coast Railway in State of Odessa, India (Rs, 0.63 chore)

-    Design, Supply, Erection, Testing and Commissioning of the work of modification of existing 110 KV to meet the requirement of Indian Railway Schedule of Dimensions (IRSOD) in the existing BG Railway Line at Chain age No. 386/9-387/0 Vakav-Wadsinge Section of Sholapur Division, Central Railway (Rs, 0.37 chore)

-    Provision of communication arrangement in MLY'C' - GT, BMO-MOB & RCPH-TLPR sections of MMTS-Ph. II, South Central Railway, Secunderabad (Rs, 0.14 chore)

Name of SPV	RVNL’s Equity		Partners’ Equity		Total Equity	Debt	Total
Â	Rs, Core	%age	Rs, Core	%age	Rs, Core	Rs, Core	Rs, Core
Kutch Railway Co Ltd.(KRC) (301 km)	100.00	50.00%	100.00	50.0%	200.00	300.00	500..00
Bharuch Dame Railway Co. Ltd. (63 km)	55.00	33.33%	100.11	64.54%	155.11	230.00	385.11
Krishnapatnam Railway Co. Ltd. (113 km)	81.00	30.00%	189.00	70.00%	270.00	933.00	1203.00
Haridaspur Para dip Railway Colt. (82 km)	223.52	37.25%	358.31	61.58%	581.83	1561.64	2143.47
Angel Lucinda Railway Ltd.(102 km)	189.00	31.50%	411.00	68.50%	600.00	1163*	1763.00
Digit Rocha Rail Limited (34 Km)	0.05	50.00%	0.05	50.00%	0.10	708.15*	786.84
Total	648.57	35.89%	1158.47	64.11%	1807.04	4895.79	6702.83

*Proposed Debt

a) Kutch Railway Company Limited (KRC)

Length	301.0 Km
Project Type	Gauge Conversion of Palanpur-Gandhidham section
Division, Railway	Ahmedabad, Western Railway
Traffic Catchment Area	Ports of Deendayal Port Trust and Mudra in Gujarat
Equity Participants	Rail Visas Nigam Limited	50%
	Deendayal Port Trust (previously Kendal Port Trust)	26%
	Adana Port & SEZ Ltd	20%
	Got, of Gujarat	4%
Commercial Operations Date (COD)	Year 2006
Turn Over 2017-18 (provisional)	Rs,695 Core (Increase from Rs, 613.30 Core in 2016-17)

* The name of Kendal Port Trust is changed to Deendayal Port Trust

Current Development:

a.    The Company is undertaking the doubling ofSamakhiali - Palanpur section (248 km) to cater to the anticipated increase in traffic flows from Mudra and Deendayal ports. The project is being executed by RVNL.

Cost: Rs, 1548.66 Core: sanctioned by Ministry of Railways

Source: Internal accruals of KRC

Progress: Contracts awarded for all five Packages

b.    Physical Progress: 34% and Financial Progress: 34% b) Krishnapatnam Railway Company Limited (KRCL)

Length	113 Km
Project Type	New line: Obulavaripalle to Krishnapatnam Port
Division, Railway	Vijayawada, South Central Railway
Traffic Catchment Area	Krishnapatnam Port in Andhra Pradesh
Equity Participants	Rail Visas Nigam Limited	30%
	Krishnapatnam Port Co. Ltd	30%
	National Mineral Development Corporation Ltd.	14.81%
	Govt. of Andhra Pradesh	12.96%
	Brahman Industries Ltd.	12.22%.
Commercial Operations Date (COD)	Phase I: 21 km line from VKT to KAPT - COD-2008 Phase-Ill: doubling of 21 km line from VKT to KAPT -COD-2014
Turn Over 2017-18 (provisional)	Rs, 36.89 Core

Current Development:

a.    For Phase II i.e. construction of new line from Obulavaripalle to Venkatachalam involving construction of a tunnel is in progress.

b.    Physical Progress: 93.00%andFinancialProgress:93.00%

c) Angel Skandia Railway Limited (ASRL)

Length	102 Km
Project Type	New line:Angul to Skandia
Division, Railway	Chorda Division, East Coast Railway

 

Traffic Catchment Area	Traffic to and from Dharma & Para dip Ports in Odessa
Equity Participants	Rail Visas Nigam Limited	31.50%
Â	Container Corporation of India	26.00%.
	Got, of Odessa	21.30%
	Odessa Mining Corporation	10.50%
	Jindal Steel Power Limited	10%
	Odessa Industrial Infrastructure Development Corporation	0.70%
Commercial Operations Date (COD)	Still under construction

Current Development:

a. Land acquisition:

(i)Private    land:

a.    1199.081 Acres (69 Villages) of private land has been acquired.

b.    11(1) notification for additional land of 24.814 acres has been done by all three District Administration in April, 2018 and under process for 19 (1) at district level / LAO.

(ii)    Government land (222.05 acres):

a.    Alienations of 110.325 acres received and balance under process.

b.    Physical possession received for 222.05 acres and work is in progress.

(iii)    Forest Land (350.566 acres):

a.    In principle Stage-1 & II clearance has been received from MOEF in Oct, 2017.

b.    Tree felling works has been completed over the entire forest land and work is in progress,

b. Physical Progress: 44.00% and Financial Progress: 43.56%

d) Haridaspur Para dip Railway Company Limited (HPRCL)

Length	82 Km
Project Type	New line: Haridaspurto Para dip Port
Division, Railway	Chorda Division, East Coast Railway
Traffic Catchment Area	Para dip Port in Odessa

 

Equity Participants	Rail Visas Nigam Limited	37.25%
	Got, of Odessa	23.80%
	Odessa Mining Corporation Ltd.	15.49%
	Para dip Port Trust	8.98%
	Easel Mining & Industries Ltd.	5.00%
	Runt Mines Ltd	5.00%
	Mudra Steel Power Limited	2.50%
	Jindal Steel Power Limited	0.83%
	Steel Authority of India Limited	0.83%
	Odessa Industrial Infrastructure Development Corporation, (Got, of Odessa)	0.32%
Commercial Operations Date (COD)	Still under construction	Â

Current Development:

a.    All the Private land of area 1444.611 Acres over the stretch of 86 villages have already been acquired. Government Land Alienation/Advance possession taken for area of 136.975 Acres. Requisition filed to Railway for Additional Land of 39 villages for Private Land of 46.982 Acres and for Government Land of4.959 acres.

b.    Physical Progress: 67.39% and Financial Progress: 61.28% respectively,

e) Bharuch Dame Railway Company Limited (BDRCL)

Length	62 Km
Project Type	Gauge Conversion
Division, Railway	Vadodara, Western Railway
Traffic Catchment Area	Dame Port in South Gujarat
Equity Participants	Rail Visas Nigam Limited	33.33%
	Dame SEZ Limited	6.45%
	Gujarat Maritime Board	11.51%
	Gujarat Industrial Development Corporation	11.51%
	Jindal Rail Infrastructure Limited	6.45%
	Hidalgo Industries Limited	8.72%
	Gujarat Narmada Valley Fertilizer Company	8.72%
	Adana Petro net (Dame) Port Private Limited	11.17%
Commercial Operations Date (COD)	Year 2012
Turn Over 2016-17	Rs, 60.43 chore (Rs, 122.79 chore in 2015-16)

 

Length	34 Km
Project Type	New line: Rocha to Digit Port
Division, Railway	Mumbai Division, Central Railway
Traffic Catchment Area	Traffic to and from Digit Port in Maharashtra
Equity Participants	Rail Visas Nigam Limited	26%
Â	Digit Port Limited	52%
Â	* Maharashtra Maritime Board	11%
Â	* Sagarmala Development Company	11%
Â	* Proposed Strategic Partners
Commercial Operations Date (COD)	Process of land acquisition initiated

f) Dighi Roha Rail Limited (DRRL)

Current Development:

a.    The Company’s Authorized Capital has been increased to Rs, 78.69 crore.

b.    Share Holder’s Agreement is under finalization.

c.    Ministry of shipping has conveyed in principle approval (dated 18.10.2016) to take 11% equity in Dighi Roha Rail Limited from Sagarmala Development Company.

5. PERSONNEL DEVELOPMENT

An organization is as good as its Human Resource. The primary focus of RVNL Management has been to have not only a team of highly motivated, skilled and experienced manpower but also retain them by facilitating a right environment, competitive perks and ample opportunities for a better career progression through training and support. The main philosophy of the Company has been to execute projects on a fast track basis with a lean and thin organization without compromising on the availability of manpower and ensuring safety and quality at the work-sites and at the same time controlling the wage bill for a sustained profitability of the Company. It is in this background that the HR Department has strived to support the Management by creating a highly effective manpower base consisting mostly of technical personnel with a judicious mix of deputationists and RVNL cadre supported ably by a pool of experienced retired personnel and fresh engineers on contract. As on 31.03.2018, the Company executed projects worth over Rs, 7556.56 crore successfully with just 541 regular employees out of which 150 were cadre officials and 391 deputationists. The productivity of per capita manpower of RVNL is Rs, 11.60 crore, which is not only the best amongst the sister CPSEs but one of the best amongst all the CPSEs.

Having belief in a transparent and employee oriented procedures and practices, the Company has developed an employee-friendly HR policy to boost the morale and motivate the employees to give their best in execution of projects. The main thrust of the HR policy is to ensure that the employees are able to adapt to the changing recommendations of the 3rd PRC for the CPSEs, the Company has revised the pay packages of the RVNL employees in accordance with the decisions of the Government and various perks/allowances, such asTA/DAon official tour, housing lease policy, special incentives for working in Left Wing affected and difficult areas etc have also been revised.

The Company celebrates its annual foundation day on 2nd Saturday of April. This year also, a befitting celebration was organized on 7th April, which was graced by the Hon’ble Minister of Railways and a large gathering of the Railway family. The meritorious services of employees were recognized and rewarded through individual/ group awards by presenting shields and cash awards. The shields for excellence in performance were presented by Chairman Railway Board and Member Engineering to the following Project Implementation Units: -

business needs and priorities and discharge their roles as a strategic business partner in the growth of the organization. The Company has given special attention to professional and personal development of employees by organizing intensive training programmes not only relevant to their functional areas but also to enhance their overall managerial capabilities. A total of 413 mandays of trainings in Project Management, Contract Management, Railway Electrification, Quality Assurances, Financial Management, Risk Management, CSR etc were provided at various levels during 2017-18. Out of thetotal 413 mandays of training, senior management i.e. DGM and above level have been imparted training for 338 mandays and 75 mandays to the Sr Managers and below. To enhance the efficiency in HR working, HR Module has been implemented through SAP Consequent upon implementation of the

S.N.	Description of Award	Awarded to
1	Best Project	Ponmalai-Thanjavur (PIU Chennai)
2	Best Workshop Project	Barauni Workshop (PIU Varanasi)
3	Maximum Expenditure Award	PIU, Chennai
4	Special Project	Obulavaripalle-Venkatachalam (PIU, Chennai)
5	Best PIU in Signalling Work	PIU, Chennai
6	Best PIU in RE Project	PIU, Varanasi (RE)
7	Best PIU for Commissioning Projects	PIU, Chennai
8	Most Difficult Project	Dallirajhara-Rowghat Project (PIU Rajpur-lll)
9	Best PIU Runners_up	PIU, Ahemdabad and PIU Raipur-ll
10.	Best PIU Winner	PIU, Chennai

regularly. All the computers in the Corporate Office have been provided with Unicode compliant software and fonts to facilitate access to common templates in Devnagari. To encourage use of Rajbhasha, officials who use Rajbhasha in drafting notes and letters are identified from each department and given Shankar Dayal Singh Smriti Puraskar. A competition on Hindi essay writing, Hindi noting and drafting, Hindi Shabd Gyan and Quiz was organized on the occasion of Hindi Divas Pakhwara in the month of September, 2017. Cash awards of Rs, 43,200/- were distributed to 63 successful participants. The Company has also set up a reading room-cum-library in the Corporate Office with a good collection of books, newspapers and periodicals in Hindi. During 2017-18, 4 meetings of the Rajabhasha Implementation Committee of RVNL were held with the representatives of Rajbhasha Directorate of Railway Board.

5.5    Presidential Directives:

Consequent upon acceptance of the recommendations of the 3rd PRC by the Government, a proposal seeking Presidential Directives for implementation of the recommendations was sought from Ministry of Railways. Ministry of Railways vide letter No. 2017/PL/52/4 dated 21-11-2017 conveyed the Presidential Directives and the same have been implemented in RVNL as per the guidelines.

5.6    Compliance of MoU Targets related to Human Resource Management for the year 2017-18

Under the MoU, signed between RVNL and Ministry of Railways, for 2017 -18, Human Resource Management (HRM) related Parameters have been fixed as under:-

5.1    INDUSTRIAL RELATIONS

During the year, the Industrial Relations remained cordial and harmonious and as in the past, there were no untoward incident of any nature. As a welfare measures to the employees, the services of Allopathic and Homeo Physicians are made available in the Corporate Office. The employees in the Company also observed ‘’Swatch Bharat Abhiyan’ and ‘International Yoga Day”.

5.2    Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013.

The Company has in place an Anti-Sexual Harassment policy in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redresssal) Act, 2013. An internal Complaints Committee called “Vishaka Committee” has been set up in RVNL to redress complaints related to sexual harassment. All employees are covered under this policy. As in the past, there had been nil incidence of any such case of harassment in the year.

5.3    Right to Information Act:

RVNL is committed to the Right to Information Act and the Company has nominated an Appellate Authority, CPIO and an APIO for Corporate Office and APIOs for each Project Implementation Unit. During the year 2017-18, 78 applications were received and disposed off in time.

5.4    Rajbhasha (Official Language)

The Company has been making concerted efforts to implement the directives of the Government of India on use of Rajbhasha (Official Language). The Rajbhasha Department of the Company has a parttime Mukhya and Up-Mukhya Rajbhasha Adhikari and a regular Manager (Rajbhasha). The website of the company is bilingual and is updated

S.No.	Parameter	Target for excellence
I	On-line submission of ACR/APAR in respect of all executives (EO & above) along with compliance of prescribed timelines w.r.t. writing of ACR/APAR	100% of number of executives
ii	On-line quarterly vigilance clearance updating for Senior Executives (E-5 & above)	100% of number of senior executives
Hi	Preparation of Succession Plan and its approval by Board of Directors Holding of DPC without delay for executive ( EO & above level)	By 30.9.2017
iv	Holding of DPC without delay for executive (EO & above level)	100%
V	Talent Management and carrier progression by imparting at least one week training in Centre of Excellence e.g. NTs, IIMs, NITs, ICAI etc. within India or technical training outside India	10% of executives

All the above items have been fully complied/ implemented as per targets mentioned in above table and the item wise details are as under: -

i. On-line submission of ACR/APAR in respect of all executives (EO & above) along with compliance of prescribed timelines w.r.t. writing of ACR/APAR

As per instructions, the Annual Performance Appraisal Report (APAR) for a Financial Year is to be recorded by 31st December of the year in the year in which the financial year ends.

To implement the MoU target of on-line submission of ACR/APAR in respect of all executives (EO & above) along with compliance of prescribed timelines w.r.t. writing of ACR/APAR, action was initiated for introduction of online submission of APAR by the employees in EO and above and its completion. Firstly, with the help of L&T Infotech, software programme has been developed as a part of integrated ERP system. With successful launch of the Performance Management System (PMS), complete digitalization of online submission of ACR/APAR in respect of all executives (EO & above in RVNL), its processing by different authorities i.e. Reporting, Reviewing, Accepting officials and its finalization along with compliance of prescribed timelines with respect to writing of ACR/APAR (for all executives EO and above) has been accomplished. Completed APARs 2016-17 have been communicated to all the employees working in EO and above grades on 29th December 2017. RVNL has completed the process before the prescribed last date for communication of completed APARS to the employee i.e. 31st December of each year.

M/s Accenture Solutions, the PMC supervising the implementation of ERP system in RVNL has certified online processing and successful completion of all APARs for 2016-17 and its communication to individual employee of RVNL on 29th December 2017.

development in area where needed.

The process of succession planning and positioning, is critical to ensure the long term growth of the Company, and goes a long way to ensure that the right candidates are available at the right moment for manning of critical and key positions in the Company.

The Board of Directors, in its 85th meeting held on 07.09.2017,    approved the Succession Plan.

The MoU target date for ‘Excellent’ rating which was 30.09.2017, has been complied with,

iv Holding of DPC without delay for executive (E0 & above level) in 100% cases.

To implement the timely completion of selection process for 2017-2018 for 100% employees who were eligible to get promoted, it was decided to have a defined schedule for holding DPC for promotion. Accordingly, a Selection Calender was prepared for the year 2017-18 with details of department wise and category wise time of holding and finalization of proceedings by the Departmental Promotion Committee for empanelment of eligible and suitable staff. The calender was discussed and duly approved by the Board of Directors in their 83rd meeting held on 19.5.2017.

The selection process included nomination of Departmental Promotion Committees, holding of written test / vivavoce, approval of the select list by the Competent Authority and issue of promotion orders. The selections held during the year for officials in E0 and above strictly followed the timeline mentioned in the calender approved by the BOD. The selection process was completed as per schedule and approved by the Competent Authority and orders issued.

Thus, it can be seen from the enclosed report that all the DPC were held without delay for Executives

Thus the MOU target of on-line submission of ACR/APAR in respect of 100% executives (E0 & above) along with compliance of prescribed timelines w.r.t. writing of ACR/APAR has been complied with.

ii    On-line quarterly vigilance clearance updating for Senior Executives (E - 5 & above)

DoPT, Government of India vide their letter issued in April, 2017, decided to put in place a web enabled online system for vigilance status of senior officials working in CPSEs to expedite appointment to Board level officials in various CPSEs. The system is operational with effect from 1.04.2017 with added security features to ensure confidentiality and security of data. As per instruction issued by DoPT, for Board level officials and officials who are one level below Board, updating of Vigilance Status will have to be carried out once every month. For officers who are second level or below, the updating of vigilance status have to be done every three months as per rule. However, in compliance of MOU targets, RVNL has uploaded the data of officials up to E 5 and regularly updates it.

It is certified that RVNL is strictly following the instructions and has been updating the vigilance status on online portal accordingly for all eligible employees at desired intervals. Thus, the MOU parameter relating to web based online monthly/quarterly updating of vigilance clerance for senior executives has been implemented for 100% employees in RVNL in eligible categories.

iii    Preparation of Succession Plan and its approval by Board of Directors

A major objective of the Succession Planning process is to ensure that each individual is given the opportunity to capitalize on his/her strengths and is given the relevant inputs for their (E-0 and above) and promotion orders of empanelled staff were issued in 100% cases,

v Talent Management and carrier progression by imparting at least one week training in Centre of Excellence e.g. NTs, IIMs, NITs, ICAI etc. within India or technical training outside India.

(Target-10% of executives to be covered)

Under Talent Management and carrier progression, the target fixed was to impart at least one-week training in Centre of Excellence to 10% of executives. RVNL imparted training in various prestigious institutions namely IIMs - Ahmedabad Campus, Luck now - Noida Campus, CSIR, National Institute of Rock Mechanics, Bangalore, Norwegian Geotechnical Institute (NGI), Norway in different subjects like Tunnelling Technology, Advances in Concrete Technology, Strategic Leadership in Uncertain Environments, Project Management, MDP on Finance for Non-Finance Executives, Norwegian Tunneling Technology etc. A total no of 76 employees, i.e. 14% of total strength of 541 RVNL employees, successfully completed training of one week or more in prestigious institutes.

The MoU target for nos. of employees to be imparted training for ‘Excellent’ rating was 10% of manpower strength and RVNL has achived the target for excellent rating by imparting one week training in Centre of Excellence to 14% staff.

6. Vigilance

The Vigilance Department in RVNL is manned by a Chief Vigilance Officer, one GGM/Vigilance (Part time), two DGM/Vigilance and one Senior Manager. Since February 2018, on completion of the tenure of the CVO, the GGM/CC who was also working as GGM/Vigilance is now working as CVO of the organization till the new incumbent is posted.

RVNL Vigilance continued its endeavor in its preventive role to aid Management in strengthening transparency and accountability. To this end, Action Plan 2017-18, envisaged combination of intensive inspections and preventive checks covering major ongoing works and miscellaneous establishment matters. Inspections in brief:

During 2017-18, intensive examination of three selected projects under execution by Project Implementation Units was conducted. The scope of the examination covered entire contract management and compliance with corporate standards & policies. Preventive Checks were also conducted with specific focus on contractor’s claims, quality issues and rotational transfer of RVNL personnel. Observations made during CTE/CTE Type Inspections were followed up and replies on paras pertaining to various CTE inspections were sent to CTE/CVC.

System Improvements:

Some major system improvements effected during 2017-18 due to preventive vigilance covered the following areas:

-    During a Preventive Check, RVNL Vigilance had detected sub-contracting of substantial portion of work by the principal contractor with the permission of the Employer and found that the same was not in keeping with the objectives of the governing clause. A system improvement was recommended for suitable modification in sub-contracting provisions in the Standard Bid Document. Instructions have been issued for limiting the scope of works to be sub-contracted with the prior approval of the Employer.

-    RVNL Vigilance also recommended for review of provisions of contracts of project amount of Rs,2.31 crore (approx.) was recovered from the contractors for deficiencies in performance.

Investigations:

The complaints received by Vigilance from time to time were dealt with as per prescribed procedure and surprise checks done as deemed fit. During the year, five complaints were taken up for investigation. Vigilance has suggested/ recommended remedial measures in the wake of the investigations to prevent incurrence of similar lapses.

A case of irregular award of temporary lighting arrangement on Quotation basis was detected by Vigilance involving one Group ‘A’, two Group ‘B’ and one Group ‘C’ employee. After obtaining the comments of the concerned GM (Railway) in the case of Group ‘A’ officer, the case with recommendation for disciplinary proceedings was forwarded to Railway Board Vigilance. Further, a Preventive Check with regard to undue drawal of Dearnes Relief on pension by some absorbed officials of RVNL is also being done.

Disciplinary Action:

During the year 2017-18, two Administrative Action cases and two Minor Penalty cases were concluded. Administrative action was taken against the officials who had irregularly drawn Dearness Relief on pension. As regards the cases wherein Minor Penalty has been imposed, both these cases had been investigated by Northern Railway Vigilance and were regarding execution of work on Northern Railway.

Periodic Reports to CVC/Railway Board:

The status of various matters namely inspections, complaints, disciplinary cases and miscellaneous matters was regularly apprised to CVC/Railway management consultancy for suitable penalty in the case of non/short deployment of safety personnel and the authority for accepting personnel below prescribed qualification/experience.

-    During investigation, it was observed that instructions for stacking of ballast were not followed by a field unit. On the advice of Vigilance, RVNL Management have directed to all concerned for ensuring proper levelling of the surface for stacking of ballast and to carry out spot checks for the same.

-    During a preventive check, it was observed that subsequent to approval and passing of amount for cash awards, there were some changes without recording the reason for such modification. It was advised to ensure that the proposals for cash award/merit certificate should duly reflect/incorporate adequate justification thereof.

-    During a preventive check, it was observed that a work on quotation was awarded to a fictitious firm at exorbitant rates bypassing corporate procedure. Based on the recommendation of Vigilance, Management have reiterated strict compliance of relevant SOP provision on calling of quotations and dispensing with tender by all field units.

-    On the advice of Vigilance, instructions have been issued to all concerned to ensure that if a contract is terminated, the copy of termination letter should be sent to all the constituents of JV in addition to the address of the JV so that all the partners know about the termination.

Recovery:

Besides, institution of corrective measures, an speech, essay writing etc. were organized in 43 schools & 4 colleges across the Country by Corporate office and its field units on anticorruption themes. In particular, 58 students of Delhi & NCR participated in poster making competition on the theme, ‘My Vision-Corruption Free India’ held in the premises of Corporate office on 30.10.2017. Twelve of these submissions were featured in a desk calendar for 2018 for wide distribution. An inter-college debate on the topic ‘Whether consumerism is leading to a moral deficit in social values’ was organized in the premises of Hindu College, Delhi where 12 competitors participated with an attendance of 120 students. As per advice of CVC, Regional Co-coordinators and Principals of Kendriya Vidyalayas who organized competition during Vigilance Awareness Week 2016 were advised to set up Integrity Clubs to which some responded positively.

During a workshop of Chief Project Managers held on 31.10.2017, 12th Issue of RVNL Vigilance Bulletin was released containing informative notes/contribution on ‘whistle-blowing policy’, role of Vigilance in Management, key system improvements etc.

Development of Integrity Index:

RVNL has been selected by CVC as one of the 25 participating organizations (Department/CPSE) in the pilot project for development of Integrity Index. CVO interacted with the IIMA, the consultant & CVC during meetings held from time to time and coordinated with the Management in submission of data inputs to the IIMA.

Online Vigilance Clearance:

As advised by DOP&T, RVNL Vigilance has started online feeding of vigilance status of senior level officials to expedite their appointment for Board Level posts.

Board through periodic monthly, quarterly and annual 2017 to September, 2017 was reviewed by the Board of Directors during 84th & 87th Meetings held on 20.07.2017 and 18.12.2017 respectively. Vigilance Awareness Week:

'Vigilance Awareness Week-2017 was observed by Corporate Office & the field units spread across the country from 30.10.2017 to 04.11.2017 with the theme "My Vision-Corruption Free India". Attractive posters (1800 in number) on anticorruption based on the drawings made by the students who participated in the competition organized by the RVNL during Vigilance Awareness Week-2016 were distributed to all the field units for display at prominent locations. A write-up on the provisions contained in the Public Interest Disclosure and Protection of Informers’ Resolution (PIDPIR), the procedure to be adopted for making a complaint under this Resolution and Whistle-blower policy of RVNL was also circulated to all the field units for wide dissemination among the staff and the related community.

Integrity Pledge was administered to the employees of the organization on 30.10.2017 in Corporate office as well as in the field offices. To facilitate ‘e’-pledge by RVNL staff & their families and others associated with RVNL works, hyperlink to the CVC website was displayed on RVNL website.

An Inter-active session/workshop on Vigilance awareness was held on 02.11.2017 with officers of RVNL in the Corporate Office on important issues highlighted during vigilance inspections pertaining to project implementation. Besides, field units across the Country conducted workshops/ sensitization programmes.

Various kinds of competitions viz. slogan writing, poem writing, poster making, group discussion, 2017-18. Accordingly, the Company is expecting to achieve an “Excellent” rating for2017-18 as well.

8. PARTICULARS RELATING TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO ETC.

8.1    Conservation of Energy and Technology Absorption

RVNL is conscious of the limited nature of conventional sources and the importance of using our energy resources wisely. Initiatives taken to create awareness on conservation of energy among employees has resulted in a steady reduction in energy consumption at Corporate Office. In addition, various state of the art systems have been installed and environment friendly technology has been adopted in the Corporate Office building.

Environment friendly equipment’s like solar heaters, solar lights etc are being installed in project offices of the Company.

8.2    Foreign Exchange Earnings and Outgo

The Foreign Exchange outgo during the year in terms of actual outflows as compared to previous year are mentioned below:

7. MEMORANDUM OF UNDERSTANDING

The Company secured a rating of “Excellent” from Department of Public Enterprises for 2016-17 on the basis of the achievement of the committed targets fixed in the Memorandum of Understanding signed between RVNL and Ministry of Railways. This is the seventh consecutive year for which the Company has been rated as “Excellent”.

In 2017-18, the Company has been able to achieve the targets set in the MoU and even surpassed them. RVNL completed New Line of 17 km, Gauge Conversion of 86.3 km and Doubling of 315.2 km, totaling to 418.5 km (104.63%) against a target of 400 km (100%) for “Excellent” under “Completion of milestone of clients orders/ agreements without time overrun” and 78.32 km against a target of 73 km under “Other sector specific result-oriented measurable parameter”. Under “Capacity Utilization” parameter, completion of 425 km Railway Electrification was achieved against a target of 400 km for “Excellent” and Barauni- 250 high Horse Power Loco Shed was completed ahead of schedule and was handed over to ECRon 31.10.2017. The Company was also able to meet the targets for all financial, enterprise specific, sectors specific parameters set in the MoU for

Particulars	2017-18	2016-17
Foreign Exchange on foreign travel of Company’s officials	1.07	0.63
Project Management Consultancy	0.79	3.74

Policy aims to review the exposure of RVNL to various risks and the mitigation measures to be taken periodically. It also strives to increase awareness among its employees and other

9. RISK MANAGEMENT

RVNL keeps a close watch over the risks to the Company. RVNL has a Risk Management Policy duly approved by the Board of Directors. The abnormally low rates and later on failing to execute the project,

d) To handle increasing number of arbitration/ court cases, policy for engagement of suitable retired personnel by PIUs as Consultants/Advisors on regular basis or on case to case basis for dealing with arbitration and court cases has been issued on 6.3.2018. Reporting and monitoring is being done as per report submitted by a professional firm engaged for preparing a detailed document on Enterprise Risk Assessment and Management in RVNL.

10. CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Corporate Social Responsibility Committee comprises of Mrs. Gita Mishra, Director (Personnel), Mr. Vijay Anand, Director (Projects) and Mr. Shiv Kumar Gupta, Part time (Non-Official) Director. The Committee monitors the adherence of projects to the Corporate Social Responsibility policy (CSR policy) of the Board and the process for implementation of the same.

The key philosophy of CSR, as enshrined in the policy, is to meet the following broad objectives:

1.    Implementation in project/programme mode

2.    Focus on periphery of project areas of RVNL

3.    Thrust areas of education and healthcare

4.    Inclusive growth of society with emphasis on development of weaker sections of society and in the backward districts of the country

During 2017-18, the Company has spent the entire budgeted amount of Rs,7.67 crores. The CSR policy may be accessed on the Company’s website at the link http://www.rvnl.org/admin/uploaded1/leftdocument/20141117161351_CSR%20Policy% 200ct%202014.pdf.

A report on CSR activities is annexed as Annexure- C. stakeholders about possible risks and measures to control the same.

The Company has a Risk Management Committee under the chairmanship of Director (Projects).The details with respects to composition and terms of reference of committee is provided in the Report on Corporate Governance, forming part of Dirctors’ Report. (Annexure B)

The Committee deliberated on the key challenges/ critical area of potential risk to the Company and the following challenges/risks were identified:

a)    Delay in approval of drawings and changes in drawings/scope of work.

b)    Delay in land acquisition.

c)    Aggressive bidding by contractors leading to potential non performing contractors.

d)    Non adherence to standards of safety at work site by contractors/subcontractors.

e)    Increase in the number of Arbitration and court cases.

Following initiatives have been taken based on the suggestions made by the Risk Management Committee:

a)    An online portal has been developed to monitor approval of drawings and the same has been launched for the use with effect from 3.1.2018.

b)    Instructions have been issued to Project Implementation Units that direct negotiations with land owners should be resorted to, in case small quantity of land involving a few owners is likely to become a bottleneck in commissioning of the section.

c)    Provision of submission of additional BG by the contractor has been introduced in standard bidding documents of RVNL to discourage the contractors quoting the MSE policy in RVNL. Contact details of these officers are uploaded on RVNL website.

The Annual Procurement Plan for purchases in 2017-18was made available on RVNL website for information of MSEs to encourage their participation in the procurement of goods and services.

In 2017-18, RVNL procured goods and services amounting to a total of Rs, 13.79 crore. Out of this, the total value of goods and services purchased from MSEs (including MSEs owned by SC/ST entrepreneurs) was to the tune of ^5.28 crore i.e 38.29% of the total procurement. Thus, RVNL has complied with the Public Procurement Policy related to Micro and Small Enterprises.

14. RESEARCH AND DEVELOPMENT Implementation of an Integrated IT Solution for RVNL

The implementation of an integrated IT Solution for RVNL Corporate Office and its Project Implementing Units for computerization of all core business processes including project planning, e-tendering, monitoring of project execution, associated finance functions and personnel management etc., has under gone major developments during 2017-18.

In addition to the progress achieved previously, IT infrastructure of RVNL has been fully setup and the integrated IT software solution has achieved partial Go-Live on 27.02.2018 of major functionalities, and the remaining portion of the project is catching up at a fast pace. A helpdesk team assists users in system usage and troubleshooting, leading to enhanced user acceptance of the system.

Latest Pay Commission recommendations have been successfully updated in the payroll system for all employees. The Employee and Management Self-Service module has now been successfully

11.    COMPLIANCE OF PROVISIONS OF COMPANIES ACT, 2013

All the provisions of the Companies Act, 2013 and the Rules made thereunder, SEBI (LODR) Regulations 2015 to the extent applicable to the Company as well as all relevant notifications thereon issued by the Government of India, are being strictly complied with.

12.    COMPLIANCE OF DPE GUIDELINES AND POLICIES

All the guidelines and policies including guidelines having financial implications issued by Department of Public Enterprises from time to time are duly complied with by the Company.

13.    COMPLIANCE OF THE PUBLIC PROCUREMENT POLICY FOR MICRO AND SMALL ENTERPRISES (MSEs) ORDER, 2012 The Government of India has notified Public Procurement Policy for Micro and Small Enterprises (MSEs) Order, 2012 with effect from 1st April, 2012 and 20% of procurement of annual requirement of goods and services by all Central Ministries/Departments/Central Public Sector Undertakings (CPSUs) has become mandatory from the Micro and Small Enterprises(MSEs) with effect from 1st April, 2015.

Your Company has taken several steps for effective implementation of MSE policy. The benefits of waiver of cost of tender documents and deposit of earnest money, prescribed under the Policy, have been incorporated in the tender documents for procurement of stores and obtaining services, etc. Two Vendor Development Programmes were also conducted during 2017-18.

Shri Ajay Kumar, Executive Director/HR isthe Nodal Officer and Shri P.K. Sharma, Group General Manager/P-ll has been nominated as the Grievance Officer for seamless implementation of and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

c)    the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d)    the Directors had prepared the annual accounts on a going concern basis.

e)    the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

16. DIRECTORS AND KEY MANAGERIAL

PERSONNEL

Mr. A. K. Ganju, superannuated as whole-time

Director (Finance) on October 31, 2017 and Mr. K.

K. Agarwal, ceased to be a Director as Nomination

was withdrawn by appointing authority, on

March 8,2018.

rolled out to all PIUs, digitizing all employee matters viz. travel, claims, payments, leave, etc. Digitalization of APAR with entire processing has been implemented in case of all RVNL employee in EO & above level. The completed APARs were digitally communicated to all employees on 29th December, 2017 before the target date of 31st December, 2017.

E-Office with features of online filing, office communication, meeting management, decision recording, Vigilance and D&AR processes, has been piloted at Corporate Office and Delhi-PIU.

15. DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, the Directors confirm that -

a)    in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b)    the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true

The following Directors were appointed up to the date of the Directors Report

S. No.	Directors Name	Designation	Date of Appointment
1.	Mr. Arun Kumar	Director (Operations)	October 10, 2017
2.	Mr. Rajen Habib Khwaja	Independent Director	October 13, 2017
3.	Mrs. Sabita Pradhan	Independent Director	October 17, 2017
4.	Mr. A. P. Dwivedi ED(PSU)/Railway Board	Government Nominee Director	March 23,2018
5.	Dr. L. V. Muralikrishna Reddy	Independent Director	March 23,2018
6.	Dr. Anil Kumar	Independent Director	May21,2018

 

1.	Mr. S.C. Agnihotri Chairman and Managing Director	from 27.1.2010 as Managing Director and from 5.3.2013 onwards as CMD [Extended up to 31.8.2018]
2.	Mrs. Gita Mishra Director (Personnel)	from 13.10.2008 onwards
3.	Mr. VijayAnand Director (Projects)	from 9.4.2011 onwards [Extended up to 31.07.2019]
4.	Mr. Arun Kumar Director (Operations)	from 10.10.2017 onwards
5.	Mr. S C Jain, ED (Works)/ Railway Board, Part- time (official) Director	from 18.01.2017 onwards
6.	Mr. A. P. Dwivedi ED (PSU) Railway Board, Part- time (official) Director	from 23.03.2018 onwards
7.	Mr. Vinayak B. Karanjikar Part-time (Non-official) Director	from 01.04.2016 onwards
8.	Mr. Shiv Kumar Gupta Part-time (Non-official) Director	from 01.04.2016 onwards
9.	Mr. Rajen Habib Khwaja Part-time (Non-official) Director	from 13.10.2017 onwards
10.	Mrs. Sabita Pradhan Part-time (Non-official) Director	from 17.10.2017 onwards
11.	Dr. LV Muralikrishna Reddy Part-time (Non-official) Director	from 23.03.2018 onwards
12.	Dr. Anil Kumar Part-time (Non-official) Director	from 21.05.2018 onwards

On the date of report, the strength of the Board of Directors of the Company is 12 Directors comprising of 4 functional Directors including Chairman and Managing Director and 2 part-time (official) Directors and 6 part-time (non-official) Directors. One(1) Position of Director (Finance) is still vacant.

The following Directors are holding office as on the date of the report: -

Pradhan as Part-time (Non-official) Director on the Board of the Company since October 2017. Appointment/Resignations of Key Managerial Personnels

Apart from Chairman and Managing Director and Whole Time Directors, the following persons are also the Key Management Personnel of your Company in compliance with the provisions of section 2 (51) of Companies Act, 2013, SEBI (ICDR) Regulations, 2009and INDAS-24.

1.    Mr. A.K. Choudhary, (Chief Financial Officer)

2.    Mrs. Kalpana Dubey, (Company Secretary& Compliance Officer)

The Company has received declarations from the Independent Directors confirming that they meet the criteria of independence as prescribed under the Companies Act, 2013.

Woman Director

In terms of the provisions of Section 149 of the Companies Act, 2013 read with the Companies (Appointment and Qualification of Directors) Rules, 2014, a Company shall have at least one Woman Director on the Board of the Company. Your Company has Mrs. Gita Mishra as Director (Personnel) since October 2008 and Mrs. Sabita

Changes (Appointment/Cessation) in Key Management Personnels (KMP) during the year.

Name	Designation	Date of change	Reasons
Mr. Ashok K. Ganju	Director (Finance) & CFO	October31, 2017	Superannuation
Mr. A. K. Choudhary	Chief Financial Officer	November 01, 2017	Designated by the Board
Mr. Vijay Anand	Director (Projects)	March 23, 2018	Designated by the Board
Mrs. Gita Mishra	Director (Personnel)	March 23, 2018	Designated by the Board
Mr. Arun Kumar	Director (Operations)	March 23, 2018	Designated by the Board

Annual evaluation by the Board of its own performance and that of its Committees and Individual Directors

RVNL being a Government Company is exempted vide notification No. F.No.1/2/2014-CL. V dated 5.6.2015 issued by Ministry of Corporate Affairs, to comply with the provisions of Sec 134(3)(p) with respect to Annual evaluation by the Board of its own performance and that of its Committees and Individual Directors. In case of RVNL, the performance evaluation of Directors is done by the Ministry of Railways.

Number of Meetings of the Board

Pursuant to the Companies Act, 2013 and Rules framed there under, seven (7) Board Meetings were held in the F.Y.2017-18. The details of the Meetings are in the Corporate Governance Report forming part of this report.

Audit Committee

The Audit Committee as on the date of the report comprises of Mr. Shiv Kumar Gupta, Part time (Non Official) Director, Mr. Vinayak B. Karanjikar, Part time (Non-Official) Director and Mr. A. P Dwivedi, Part time (Official) Director. All recommendations made by the Audit Committee were accepted by the Board. 2017. During his tenure as a Director of your Company, he has made significant contribution in the growth & development of the company. Company has benefited immensely from his vast experience and knowledge.

We also take this opportunity to gratefully acknowledge the cooperation, guidance and support received from Ministry of Railways (MoR), Ministry of Finance, Department of Public Enterprises, various banks, Asian Development Bank, the Zonal Railways, IRFC and our equity partners in Joint Venture SPVs for their continued interest and support to the Company. The Directors would like to express their thanks for the devotion, commitment and dedication of each and every employee of the Company due to which your Company could face the new challenges and opportunities and create a niche for itself as a major provider of rail infrastructure in the Country. The Directors also place on record their appreciation to the officials of Comptroller & Auditor General of India for their guidance during the year under review. Last but not the least, the Directors would like to express their deep appreciation and gratitude towards all their predecessors who have been associated with RVNL, for their invaluable contribution to the growth and development of the Company in attainment of the Company’s aims and goals in all spheres.

17.    AUDITORS

a)    Statutory Auditor

The Comptroller & Auditor General of India has appointed M/s Raj Har Gopal & Co. Chartered Accountants as Statutory Auditors of the Company for the year ended 31st March, 2018. The Board would like to thank them for their valuable support and guidance during the audit of accounts under review.

b)    Secretarial Auditor

The Board of Directors has appointed M/s PC Jain & Co. (Practicing Company Secretaries) to conduct the Secretarial Audit for financial year 2017-18. The Secretarial Audit Report is annexed and forms part of this Annual Report in Annexure D.

18.    COMMENTS OF COMPTROLLER & AUDITOR GENERAL (C&AG) OF INDIA

The Comptroller & Auditor General of India has undertaken supplementary audit on the accounts of the Company for the year ended 31st March, 2018 under Section 139(5) of the Companies Act, 2013. The comments of the C & AG on the Annual Accounts of the Company for the year ended 31st March, 2018 shall also form part of this report.

19.    ACKNOWLEDGEMENTS

At the outset, the Company would also like to place on record and express their appreciation of the special contribution of Mr. Ashok K. Ganju, Director (Finance) who demitted office on 31stOctober,

                                          For and on behalf of Board of Directors

                                          Sd/-

Place: New Delhi              (S. C. Agnihotri)

Date: 13.08.2018              Chairman and Managing Director

 

 

---

Mar 31, 2011

The Directors of your Company are privileged to present the Eighth Annual Report of the Company reflecting the all round performance of the Company, along with Audited Annual Accounts, Auditors'' Report and review of the accounts by the Comptroller & Auditor General of India for the financial year 2010-11.

In accordance with the guidelines on Corporate Governance laid down by Department of Public Enterprises, this report contains a "Report on Corporate Governance" (Annexure-I) and "Management Discussion and Analysis Report" (Annexure-II).

The Report on Corporate Governance underlines RVNL''s philosophy on Corporate Governance, and includes the composition of the Board of Directors of RVNL, information related to Board meetings, Audit Committee and disclosures as required to be made under the aforesaid DPE''s guidelines. The Report also contains a Certificate signed by the Managing Director affirming receipt of compliance with the Code of Conduct from all Board members and Senior Management personnel during the year 2010-11 (placed at Annexure "I-A").

It is also supplemented by a Certificate of compliance on Corporate Governance by a Practicing Company Secretary (placed at Annexure "I-B").

The Management Discussion and Analysis Report provide an overview of the affairs of the Company, the industry scenario, Company''s prospects, Company''s SWOT analysis etc.

It also has an Addendum to the Directors'' Report containing Management replies to the observations made by auditors'' in their report.

The salient features are presented below:

1. FINANCIAL PERFORMANCE

The financial year 2010-11 was marked by a period when a number of projects being executed by RVNL and by Zonal Railways (on behalf of RVNL) were nearing completion and the order book of RVNL was depleted. Accordingly, the expenditure booking on these projects was significantly lower than the previous year, and the case was similar for Deposit Works and RVNL Projects allotted initially. The progress of some of these projects was also affected due to the problems of land acquisition. Five major projects with an estimated cost of Rs. 5350 crore could not take off due to delay in the processing of 2nd Asian Development Bank loan. The new projects, recently assigned to RVNL, including construction of Metro Lines of approximately 66 Kms in Kolkata were under the process of planning and award of contracts.

However, despite a dip in the turnover of the Company in 2010-11, your Directors are happy to report that the Company has been able to maintain, and in fact, improve its overall financial performance over the previous year.

A. Financial Highlights

(I) Project Expenditure: Though the overall turnover of RVNL, which include works executed by Zonal Railways and Deposit Works, decreased from Rs.1749.08 crore in 2009-10 to Rs. 1444.65 crore in 2010-11, there was an improvement in the execution of MoR projects by RVNL with an increase in expenditure from Rs. 1098.04 crore in 2009-10 to Rs.1136.99 crore in 2010-11. However, there was a decline in expenditure incurred by Zonal Railways on RVNL projects from Rs. 251.14 crore to Rs.72.48 crore i.e. by Rs. 178.66 crore. Similarly, with the completion of the Idapally-Vallarpadam Port connectivity work, and land acquisition issues in Orissa there was a decline on expenditure by RVNL on SPV and other Deposit Works from Rs.399.89 crore to Rs. 235.17 crore i.e. by Rs. 164.73 crore. With the recent successful negotiation of the 2nd ADB Loan and award of contracts of Rs. 1440 crore in 2010-11 for recently assigned works and transfer of more projects, including extension of Kolkata Metro, it is anticipated that the turnover will increase in the current year.

(ii) Profit: Notwithstanding the decline in project turnover, the Gross Profit of the Company has increased from Rs.80.83 crore in 2009-10 to Rs.84.51 crore in 2010-11. Out of this amount, Rs. 26.65 crore (Rs. 25.74 crore in 2009-10) is from Management Fee for execution of projects of MoR and Rs.18.37 crore (Rs. 32.96 crore in 2009-10) are from execution of projects for other agencies. The shortfall from income on execution of projects has been compensated by income from dividend, interest etc. and as a result, the Profit Before Tax has increased from Rs.67.49 crore in 2009-10 to Rs.75.45 crore in 2010-11.

(iii) Dividend: With the increase in the overall profitability of the Company, the Directors recommend an increase in payment of dividend from Rs. 10 crore in 2009-10 to Rs.12.50 crore in 2010-11 for consideration by the shareholders.

(iv) Reserves and Surplus: At the end of 2009-10 the Reserves and Surplus of the Company stood at Rs.106.76 crore. After taking into account the proposed dividend and proportionate amount to be transferred to general reserves and provision for Dividend Distribution Tax, the balance stands at Rs. 151.50 crore under Reserves and Surplus at the end of 2010-11.

(v) Net worth: The net worth of the Company has improved over the previous year on account of transfer of profits amounting to Rs. 44.74 crore to Reserves and Surplus. Accordingly, the Net Worth of the Company has increased from Rs. 2191.78 crore to Rs. 2236.52 crore.

B. Sources of Funds

The total funds received from Ministry of Railways and other sources increased to Rs. 9232.4crore. The details are as under:

(i) Equity: Against an authorized share capital of the Company of Rs. 3000 crore the paid up share capital of the Company remained at the level of Rs. 2085.02 crore as in the previous year as no cash call was made during the year. Ministry of Railways, Government of India holds the entire share capital of the Company

(ii) Project Advance from Ministry of Railways (MOR):

During the year MoR, released Rs. 820.20 crore to RVNL as project advance for execution of project including Metro projects. The cumulative amount received as advance stands at Rs. 4142.45 crore at the end of year. During the current financial year the financial adjustment for projects completed and handed over to the Zonal Railways for operations has been carried out in the Balance Sheet to the tune of Rs.1974.50 crore, leading to a net balance of Rs. 2167.95 crore at the end of the year. In addition, Rs.32.75 crore has been received towards construction of Metro Projects in Kolkata.

(iii) Loans from IRFC: An additional amount of Rs.100 crore was received as borrowings from IRFC during the year. The cumulative amount received from IRFC is now Rs.1971 crore. The principle and interest on the borrowings from IRFC are repaid by MoR through RVNL. The rate of interest on the funds borrowed from IRFC during 2010-11 has been 8.92%. During the year an amount of Rs. 80.67 croreand Rs. 120.88 crore was paid to IRFC on account of repayment of principal and interest amount respectively.

(iv) Other sources of funds: The total equity raised by the Joint Ventures, SPVs of RVNL namely Kutch Railway Company Ltd., Haridaspur Paradeep Railway Company Ltd., Krishnapatnam Railway Company Ltd., Angul Sukinda Railway Limited and Bharuch Dahej Railway Company Ltd. stood at Rs. 858.60 crore till the end of March, 2011, an increase of Rs. 92 crore during the year. This includes Rs. 496.83 crore as equity contribution by partners other than RVNL. The total funds received from JVs for execution of projects by RVNL is Rs. 548.39 crore.

While Kutch Railway Company Ltd. has completed repayment of its debt of Rs. 300 crore, Bharuch Dahej Railway Company Ltd. has drawn Rs. 184 crore upto 2010-11 out of the total anticipated debt of Rs. 200 crore. The other SPVs are also in the process of financial closure.

Project Advance of Rs.12.69 crore has been received from Cochin Port Trust, Rs. 59.49 crore from SAIL (through SECR) during the year amounting to a cumulative total of Rs. 303.48 crore and Rs.132.49 crore received from the two organizations respectively. Funds amounting to Rs. 16.82 crore have also been received from other parties for execution of various works during the current financial year.

C. ADB Loan

The cumulative disbursement under ADB Loan has increased to US $ 171.46 million up to 2010-11 against the sanctioned loan amount of US $ 206.19 million. The loan period has been extended upto 31st December, 2011 and efforts are being made to utilize the full amount during the current year.

The ADB 2nd Loan covers funding of 5 projects (1 railway electrification and 4 doubling projects) with a total sanctioned cost of approximately Rs. 5350 crore. Your Directors are happy to report that the Loan Negotiations with ADB have been successfully completed in July, 2011. RVNL has been carrying out the activities for project preparedness for execution of these projects and the tenders for award of contracts have also been floated. It is expected that the contracts for all the 5 ADB projects will be awarded this year (2011-12) and execution will commence shortly.

2. Project Planning & Development

Ministry of Railways continues to repose confidence in RVNL and has transferred projects involving a capital expenditure of Rs 2657.44 Cr during the year. The projects transferred comprise of:

- New lines (270.5 km)

- Doubling (154.6 km)

- Electrification (331.5 km)

- Construction of ROBs and

- Construction of railway workshop at Sankarail (later shifted to Haldia)

The details of projects transferred to RVNL are:

S. Name of the Project Type of Length Project No. Project (Km) Cost (Cr.)

1. Rajgoda-Tamluk(Jn cabin) Doubling 13.5 86.91

2. Tamluk (Jn cabin) - Basulya Doubling 24.4 171.02 Sutahata

3. Cuddapah-Bangalore New Line 255.4 1040

4. ROB at Bardhman (Yard) - ROB 0 156.68 4 lanes

5. Setting up of Diesel Workshop 0 249 Multiple Unit (DMU) Manufacturing Factory at Sankrail

6. Abu Road-Sarotra Road Doubling 23.12 131.41

7. Sarotra Road-Karjoda Doubling 23.59 154.13

8. Bhagat Ki Kothi-Luni Doubling 28.12 98.15

9. Yelahanka - Dharmavaram Railway 306 228.57 - Gooty Electrific- ation

10. Abu Road-Swaroopganj Doubling 25.36 105.68

11. Krishnapatnam - Doubling 16.5 85.89 Venkatachalam & Railway Electrific- ation

In addition, RVNL has secured the following project directly:

12. Rail Connectivity to Vizhinjam NL 15 150.00 International Sea Port Ltd (VISL)

Bankability Studies

In addition to the above, Ministry of Railway has also assigned the bankability studies of the following new projects with the Terms of Reference as indicated:

(i) To conduct Bankability studies and suggest the funding mechanism For the following projects:

(a) Ahmedabad - Udaipur Gauge Conversion (Western Rly.)

(b) Dahod-Indore New Line (Western Railway)

(c) Khurda Road-Bolangir New Line(East Coast Rly)

(d) Macherla-Nalgonda New Line (S.C. Railway)

(e) Rayadurg-Tumkur New Line (S.W. Railway)

(ii) To examine and implement the following projects (as proposed By Karnataka State Government)through PPP:-

(a) Talgoppa - Honnavar New Line (S.W.Railway)

(b) Bijapur- Shahabad New Line (S.W. Railway)

(c) Dharwad-Belgaum New Line (S.W. Railway)

The bankability study reports of the following projects have been Sent to Railway Board for further action:

a) Electrification of Nallapadu-Guntakal Section including Gooty-Pendakallu section (South Central Railway)

b) Khurda Road-Bolangir New Line (East Coast Railway)

c) Ahmedabad - Udaipur Gauge Conversion (Western Railway)

d) Buramara-Chakulia New Line with upgradation of

Rupsa -Buramara BG line (South Eastern Railway)

Public Private Partnership (PPP)

Amongst the focus areas of RVNL is the promotion of Public Private Partnerships (PPP) in implementation of railway projects for enhancement of rail capacity in the country and providing last mile connectivity from the hinterland to ports. RVNL has made a substantial contribution in attracting private investment in port connectivity projects by forming Special Purpose Vehicles (SPVs) with strategic partners, thereby raising funds for rail projects. As on date the Company has been instrumental in the formation of the 5 Joint Venture SPVs with a total estimated cost of projects of Rs. 3837 crore comprising of Rs. 1251 crore as equity and Rs. 2586 crore as non recourse debt finance. The total of equity contribution of RVNL is Rs. 528.18 crore (13.8% of the total cost of projects). The details of fund mobilisation by the various SPVs are given below:

Mobilisation of Funds by SPVs

Name of SPVs Total RVNL Equity Partners'' Equity Equity Rs. Rs. % Rs. % (Crores) (Crores) (Crores)

Kutch Railway 200 100 50 100 50 Co. Ltd. (301 Km)

Bharuch Dahej 85 25 29.41 60 70.59 Rly. Co. Ltd. (63 Km)

Krishnapatnam 270 81 30 189 70 Rly. Co.Ltd. (113 Kms)

Haridaspur 275 133.18 48.43 141.82 51.57 Paradip Rly. Co. Ltd. (82 Kms)

Angul Sukinda 420 189 45 189 45 Rly. Ltd.* (102 Kms)

1250 528.18 679.82

Name of SPVs Debt Total Rs. Rs. (Crores) (Crores)

Kutch Railway Co.Ltd. 300 500 (301 Km)

Bhanuch Dahej Rly.Co.Ltd. 200 285 (63 Km)

Krishnapatnam Rly.C.Ltd. 730 1000 (113 Kms)

Haridaspur Paradip Rly. 725 1000 Co.Ltd (82 Kms)

Angul Sukinda Rly.Ltd.(102 Kms) 632 1052

2587 3837

*Equity gap of 10%

Total investment = Rs 3837 crores

RVNL contribution = Rs 528.18 crores or 13.77%

Status of Joint Venture Special Purpose Vehicles (SPVs):

The performance of the SPVs is summarised below:

(i) Kutch Railway Company Limited (KRC), the first SPV of RVNL, carried out the gauge conversion between Gandhidham - Palanpur (301 km) in Gujarat on Western Railway. The Company commenced operations in 2007.

The Company has been performing well since its inception and achieved growth of 19.4% in 2009-10 and 9.5% in 2010-11 in turnover. As a result, KRC declared a dividend of 10% for 2009-10 and an interim dividend of 5% for 2010-11. As on 31.03.2011, the Company has repaid its entire loan of Rs. 300 crore.

With the commissioning of Bhildi - Samdari GC and other projects on NWR, the traffic on Gandhidham - Palanpur (KRC) section has substantially increased, putting a pressure on the line capacity. The Company foresees further growth in traffic from Kandla and Mundra Ports, the major ports linked to the KRC line which have ambitious expansion plans. Keeping in view the above developments, KRC has planned doubling of the Palanpur - Samakhiali section (248 km) to cater to the increased demand. The proposal for doubling is under examination with the Ministry of Railways.

(ii) Haridaspur Paradip Railway Company Limited (HPRCL) was established on 10/10/2006 to provide connectivity between Haridaspur and Paradip Port (82 Km) in Orissa on East Coast Railway. Land had been acquired for 68 Km out of the total project length of 82 Km. However, the project has suffered a setback due to villagers obstructing execution of work demanding higher compensation. The delay may further escalate the project cost. To resolve the issue, it has been proposed to make payment of additional compensation to land losers. This will result in an additional expenditure of Rs. 55 crore towards land acquisition. HPRCL has agreed to bear the cost of the additional compensation and the issue is likely to be resolved shortly after which the necessary steps to restart the work shall be taken.

(iii) Krishnapatnam Railway Company Limited (KRCL) was formed on 11.10.2006 to provide connectivity between Obulavaripalle and Krishnapatnam Port (113 Km) in Andhra Pradesh on South Central Railway. The SPV has commissioned Phase I of the project by providing connectivity between Krishnapatnam Port and the main line at Venkatachalam station (23 kms). The Venkatachalam Manubolu Bye-Pass line (9 kms) was commissioned on 14.11.2010 and regular train services on this bye pass are in operation since then. This work has removed a major bottleneck in train operations between Krishnapatnam Port and SC Railway. The work for the remaining part of the project is in progress. There are two tunnels, with a total length of 8.3 km in the proposed alignment, for which a consultant for Design, Alignment and Construction Supervision has been appointed. Based on the report of the consultant the process of inviting the contract for execution of the work has been initiated. In view of the increase in traffic, doubling of the section between Venkatchalam to Krishnapatnam has been approved by Railway Board in February 2011 and tenders for the work have been invited. The cost of the doubling work is estimated at Rs. 87 Crore to be funded by KRCL. The Company has negotiated financial closure of the project.

(iv) Bharuch Dahej Railway Company Limited (BDRCL), was formed on 15.11.06 to provide connectivity between Bharuch and Dahej Port (62 Km) by Gauge Conversion of the existing line in Gujarat on Western Railway. The SPV has achieved financial closure for Rs. 200 crore. The construction work proceeded satisfactorily, however, it was interrupted over a stretch of 5 Km in Bharuch area due to public agitation demanding diversion of the railway alignment. The matter has now been resolved and the project has been physically completed in a record period of 21 months. The commissioning works are in progress. Due to increase in scope of some aspects of work the cost has been revised from Rs 285 crores to Rs 355 Crores. BDRCL has accepted Gujarat Industrial Development Corporation as a new shareholder with an equity contribution of Rs 10 Crores and the authorized share capital has been raised by the company from Rs.85 Crore to Rs. 125 Crore. The Participation Agreement has been signed for induction of the new partner.

(v) Angul Sukinda Railway Limited (ASRL) was formed on 20/02/2009 to connect Angul to Sukinda Road (102 Km) in Orissa on East Coast Railway. The process of land acquisition is in progress. Confirmatory FLS has been completed. Tenders for one important bridge over river Brahmani and 2 major bridges across Rengali Left canal have been finalized. Tenders forthe balance work will be invited based on the progress of land acquisition.

SPVs/projects under various stages of planning/ formation Surat Hazira new rail line project in Gujarat on Western Railway is being planned for implementation on the SPV route. Meetings have been convened by GIDB under the chairmanship of Minister, Roads and Buildings, Govt. of Gujarat and Chief Secretary, Govt. of Gujarat to finalize the alignment of the railway line. GIDB has informed RVNL that JV will be formed comprising of shareholders such as HPPL - Adani, Essar & Kribhco to implement the project. Government of Gujarat may also participate in theJV.

MoU with Government of Gujarat has been signed for providing rail connectivity to the following ports:

- Nargol (24 Km)

- Mahuva (8.5 Km)

- ChharaPort (48 Km)

Government of Gujarat has already assigned the work of development of Chhara port to M/s. Shapoorji Pallonji Ports Pvt. Ltd. and has agreed that rail connectivity to the port may be provided through PPP mode.

3. PROJECT EXECUTION:

3.1 The performance of RVNL has been improving consistently since its inception. Initially, some of the projects transferred to RVNL were being executed by the Zonal Railways. However, over the years, the scenario has changed and presently almost all the works assigned to RVNL are being developed, designed, tendered, contracted and works executed by the Company itself.

Your Directors are happy to inform that during the year, 441 kms (211 km of Doubling, 62 Km of Gauge Conversion, 9 Km of New Line and 159 Km of Railway Electrifications) of project length has been completed including important projects such as Bharuch - Samni Dahej Gauge Conversion, parts of projects like Aligarh-Ghaziabad 3rd line, Palwal-Bhuteshwar 3rd line, Gooty - Renigunta Patch Doubling etc. Further, Railway Electrification of 177 Km was also carried out as part of Doubling, Gauge Conversion & New Line Works. 275 kms of project length was successfully commissioned during the year including some of the projects which had been completed in the previous year such as Vallarpadam - Idapally New Line, sections of Bilaspur - Urkura 3rd Line Doubling, etc. Our efforts towards capacity building in execution of signaling and telecommunication works have paid dividends and during the year important doubling, 3rd line projects have been commissioned involving large scale Solid State Interlocking and NIs of major yards on busy routes.

3.2 Vallarpadam-Idapally new line project: This project completed by RVNL in 2009-10 involving construction of a 4.6 kms long bridge over the back waters in the state of Kerala for providing rail connectivity to the new International transshipment terminal at Vallarpadam was dedicated to the nation by Hon''ble Prime Minister of India on 14th Feb.''11. This is the longest railway bridge in India and was completed in a record time of only 28 months.

The bridge involved launching of 33 pre-cast ''U'' girders of 20 mtrs span and 200 pre-cast-''I'' girders of 40 mtrs span in the backwaters and alignment having curvatures up to 4 degrees. This was a unique achievement as generally launching of PSC girders has not been done on curves in railway bridges. Launching girders specially designed for this purpose, were imported from China and progress of launching of one girder per day was achieved. This project is a testimony of RVNL''s endeavor to implement complex projects on fast track using state-of-the-art technology. The project has been awarded the "Pre-stressed Concrete Structure of the year 2010" by Indian Concrete Institute. The project has also been awarded the Essar Steel Excellence Infrastructure project award in Railway Infrastructure Category in April 2011.

3.3 Bharuch - Samni - Dahej Gauge Conversion project: This work has been executed by RVNL on Public-Private-Partnership basis was physically completed during 2010-11 in a period of just 21 months. Work also involved electrification of this line. With the completion of this project, RVNL has successfully executed all the Gauge conversion projects initially allotted to it involving a length of 1579 Km in a short span of 5 years.

3.4 Aligarh-Ghaziabad 3rd line project: Khurja - Dankaur and Dankaur - Dadri sections involving a total of 46 kms were completed and commissioned for Goods Train operation. The section involved construction of a large number of bridges and level crossings. The work on the section was very demanding as the project lies on the Delhi - Kolkata trunk route and is one of the busiest sections on Indian Railways. Detailed planning for execution had to be done as the construction of 3rd line was parallel and adjacent to the existing 2 lines.

3.5 Palwal-Bhuteshwar 3rd line project: Palwal- Sholaka (20 Km) section has been completed and commissioned for Goods Traffic. The panel interlocking system has been replaced by Electronic Interlocking. Two SSPs at Rundhi and Sholaka and one SPat Palwal were also upgraded for 3rd line.

3.6 Bilaspur - Urkura 3rd Line project: This lies on the busy coal carrying route of Indian Railways, Bhatapara-Hathband and Hathband-Tilda sections involving a length of 29 kms were completed.

3.7 Rajatgarh - Barang doubling project (East Coast Railway): The Rajatgarh - Ghantikal section (11 km) was commissioned during 2010-11.

3.8 RVNL has completed Railway Electrification of 159 kms during the year comprising of 76 kms in Renigunta-Guntakal and 83 kms in Tomka - Banspani sections. In addition, 177 kms of railway electrification works were also carried out in other than specific railway electrification works such as Aligarh-Ghaziabad 3rd line, Palwal-Bhuteswar3rd line, Bilaspur-Urkura 3rd line, Bharuch - Samni Dahej GC projects etc.

3.9 The Company has achieved commendable success in commissioning signaling works associated with doubling, third line, auto signaling, yard remodeling and gauge conversion. The number of stations commissioned has increased from 24 in 2007-08 to 51 in 2010-11. RVNL has also been able to successfully commission telecom works involving laying of optic fibre cables and 6 Quad cables of a total of 428 kms. RVNL has also successfully commissioned S&T works involving yard remodeling associated with doubling and third line works.

3.10 RVNL successfully started launching of 43.846m precast PSC box girder each weighing approx 600 MT for bridges across river Mahanadi and Luna in Haridaspur-Paradeep section.

3.11 Four major projects for the extension of Kolkata Metro have been transferred to RVNL in March 2010 viz.

- Baranagar- Barrackpore & Dakshineswar( 14.5 Km),

- Dum Dum Airport - NewGaria Via Rajerhat (32 Km),

- Joka - Binoy Badal Dinesh Bagh Via Majerhat (16.72 Km) and

- Naupara (Ex.)-Baranagar(2.6 Km).

RVNL has worked at a fast pace for execution of these projects. No DPR was prepared at the time of sanctioning of project by the Government. The contract for Naupara - Baranager (2.6 Km) & Baranagar - Dakshineswar (2 Km) including 2 station buildings was awarded in September 2010 which had to be terminated in November 2010 as contractor did not start work. The tender was reinvited and fresh contract was awarded in February 2011. The work has commenced.

The foundation stone for Joka - Binoy Badal Dinesh Bagh project, was laid by Her Excellency, President of India on 22.09.2010. The contract for execution of works was awarded in December 2010 and construction of piles, pile caps and piers are in progress between Behala & Majerhat.

The tenders for Dum Dum Airport – New Garia project have also been invited.

3.12 As the size of projects being executed by RVNL is quite large, to ensure fast award and execution of projects, RVNL invites tenders consisting of multiple packages in which the cost of each package is between Rs.125 crore and Rs.200 crore. Each tender may consist of two to four contract packages. This approach has a number of advantages such as:

a) Multiple contracts can be awarded through one tender which saves time and effort in invitation and finalization of tenders.

b) Both small and large agencies can compete for any contract package which increases competition.

c) Large agencies who are capable of executing big contracts can quote for multiple packages to achieve economies of scale and pass on the benefit to RVNL by quoting discounts in case of award of more than one package.

d) Smaller agencies, which would not be eligible to quote if the tender for the project was floated in a single package, are now able to compete in any of the contract packages individually as they may meet the qualification requirements of individual packages which are of comparatively smaller value.

3.13 During the year no accident was reported from any of the project sites on RVNL account.

3.14 Physical Size Of the Projects:

Ministry of Railways has transferred 81 projects to RVNL for execution, which may be broadly classified under the following heads:

Strengthening of Golden - 40 projects Quadrilateral and Diagonals

Provision of Port connectivity and - 33 projects corridors to hinterland

Kolkata Metro Rail - 4 Projects

Workshops & Multi Functional - 4 projects Complexes

Till 2010, the RE projects transferred to RVNL were only those in areas where RVNL was executing some other work like doubling, gauge conversion, etc. However, recently projects pertaining to electrification of Railway lines where RVNL is not doing any other work have also been transferred for execution such as Daund - Manmand RE, Yelahanka-Dharmavaram-Gotty RE etc.

With the transfer of projects involving construction of workshops, Metro projects, construction of cable stayed bridge etc., RVNL has diversified the nature of projects being executed by it.

Of the 81 projects, 77 pertain to construction of railway lines involving a total length of 8662 kms which are grouped under the following five categories:

- Doubling

- Gauge Conversion

- New Lines

- Metro

- Railway Electrification

These projects are spread all over the country and for efficient implementation of projects, Project Implementation Units (PIUs) have been established at 14 locations i.e. New Delhi , Mumbai , Kolkata, Chennai, Secunderabad, Bhubaneshwar, Bilaspur, Bhopal, Abu Road , Jodhpur, Waltair, Bangalore, Pune & Raipur to execute projects in their geographical area.

315 Status of physical progress of projects

The status of the 81 projects assigned to RVNL for execution is as under:-

Projects completed upto March 2011 : 23

Projects under implementation : 54

Projects yet to be sanctioned : 4

During the year, RVNL physically completed 211 Km of Doubling, 62 Km of Gauge Conversion, 9 Km of New Line & 159 Km of Railway Electrification i.e. a total of 441 km. Further, Railway Electrification of 177 Km was also carried out as part of Doubling, Gauge Conversion &New Line Works.

The following projects were completed during 2010-11:

S.No. Name of Project Length (Km)

1. Ghantikal-Radhakishorepur (6.5 Km) 11 Radhakishorepur-Machhapur ( 2 Km), Radhakishorepur-Rajatgarh (2.5 Km) Sections of Rajatgarh-Barang 3rd line

2. Khurja-Ajaibpur (37 kms) & Ajaibpur- 46 Dadri (9 Km) Sections of Aligarh- Ghaziabad 3rd line

3. Palwal-Sholakha(20 Km) Section of 20 Palwal-Bhuteshwar 3rd line

4. Bhatapara-Hathband (16 Km) & 29 Hathband-Tilda (13 Km) Sections of Bilaspur-Urkura

5. Nancherla - Aspari (22 Km ) section of 22 Raichur Guntakal

6. Kadapa-Kamlapuram (23 Km) , 83 Muddanuru - Kamlapuram (32 Km) & Kondapuram-Tadipatri (28 km) Sections of Gooty-Renigunta - Patch doubling

7. Bharuch-Samni-Dahej GC 62

8. Manubolu By-pass of NL Obulavaripalle- 9 Venkatachalam

9. Harichandanpur - Keonjhar ( 51RKm), 83 Keonjhar - Porjanpur (18 RKM) & Porjanpur - Naranpur (14 RKm) Section of Tomka Banspani RE

10. Kadapa - Kamalapuram Section (23 RKM), 76 Kalamalla - Mangapatanam (25 RKM ) & Guntakal - Gotty (28 RKM) Sections of Renigunta - Guntakal RE Project

Cumulatively, RVNL has till now completed a total of 633 Kms of doubling, 1579 Kms of gauge conversion 194 Kms of new lines and 1335 Kms. of Railway Electrification. Thus as on 31.03.11, 3741 km out of a total length 8662 km of 81 projects assigned to RVNL, have been completed.

3.16 Projects under implementation:-

S.No. Railway Name of Project

1. CR Daund - Gulbarga Doubling

2. CR Daund-Manmad Incl. Puntamba- Shirdi - RE

3. CR&SCR Pune-Guntakal Rly Elect.

4. ECoR Khurda Road - Barang 3rd Line

5. ECoR Cuttack-Barang Doubling

6. ECoR Rajatgarh - Barang Doubling

7. ECoR Haridaspur-Paradeep New Line

8.* ECoR Balance Section of Tomka-Banaspani - RE

9.* ECoR Jakhpura-Haridaspur 3rd Line

10. ECoR Angul - Sukinda New Line

11. ECoR Sambalpur-Titlagarh - Doubling

12. ECoR Raipur-Titlagarh - Doubling

13. ECoR Banaspani-Jakhpura - Doubling

14. ER Dankuni - Furfura New Line

15. NR New Delhi-Tilak Bridge 5th & 6th Line

16. NR Utretia-Rae Bareli Doubling

17. NCR Palwal - Bhuteswar 3rd Line

18. NCR Balance Section of Aligarh - Ghaziabad 3rd Line

19. NER Lucknow- Pilibhit Via Sitapur, Lakhimpur GC

20. NWR Abu Road - Sarotra Road Patch Doubling

21. NWR Sarotra Road - Karjoda Patch Doubling

22. NWR Bhagat Ki Kothi - Luni Doubling

23. NWR Abu Roard - Swaroopganj Doubling

24. NWR Rani - Keshav Ganj Doubling

25. NWR Rewari-Manheru Doubling With RE

26. SCR Balance Section of Gooty - Renigunta Patch Doubling

27. SCR Balance Section of Obulavaripalle - Krishnapattnam New Line

28. SCR Raichur-Guntakal Doubling

29. SCR Cuddapah - Bangalore New Line

30. SCR Krishnapatnam - Venkatachalam Doubling With RE.

31. SCR Balance Section of Renigunta - Guntakal Electrification

32. SCR Yelahanka - Dharmavaram - Gooty RE

33. SER Panskura - Kharagpur 3rd Line Doubling

34. SER Rajgoda-Tamluk (Jn. Cabin) Doubling

35. SER Tikiapara - Santragachi Doubling

36. SER Goelkera - Manoharpur 3rd Line Doubling

37. SER Buramara - Chakulia - New Line With Upgrading of Rupsa - Buramara

38. SER Tamluk Jn. Cabin - Basulya Sutahata Doubling

39. SECR Balance Section of Bilaspur - Urkura 3rd Line Doubling

40. SECR Salka Road - Annuppur (With Flyover) Doubling

41. SECR Dalli - Rajhara - Raoghat New Line

42. SR Balance Section of Attipattu - Korukkupet 3rd Line Doubling

43. SR Tiruvallur-Arakkonam4th Line

44. SR Villupuram - Dindigul Doubling

45. SWR Hospet-Tinaighat - Doubling

46. WCR Bhopal - Bina 3rd Line Doubling

Kolkata Metro Rail Line Projects:

47. MET Baranagar-Barrackpore & Dakshineswar

48. MET Dum Dum Airport-NewGaria Via Raerhat

49. MET Joka - Binoy Badal Dinesh Bagh Via Majerhat

50. MET Naupara(Ex.) - Baranagar (Extension of Dum Dum-Naupara Metro Line)

Other than Track Construction Works:

51. Cons Construction of Multi-Functional Complexs(MFCs)

52. WKSP Civil Engineering Works In Connection With Diesel Loco Component Factory, Dankuni

53. WKSP Setting Up Of Diesel Multiple Unit(DMU) Manufacturing Factory at Haldia

54. Cons ROB at Bardhman(YARD) - 4 LANES

Note:- S.No. 8 & 9 are material modification of Daitari - Banspani New Line Project, hence not counted as a separate project.

3.17 Projects under Sanction and Development

1. Surat-Hajira New Line

2. Rewas Port New Line

3. Dighi Port New Line

4. Rail Connectivity To Vizhinjam International Seaport Limited (VISL)

3.18 Projects handed Over to Railways

The following sections of projects have been handed over to Zonal Railways for operations during 2010-11

(i) Doubling

1. Ghantikal-Radhakishorepur, Radhakishorepur- Machhapur, Radhakishorepur-Rajatgarh Sections of Rajatgarh-Barang 3rd line ECoR

2. Khurja-Ajaibpur & Ajaibpur-Dadri Sections of Aligarh-Ghaziabad 3rd line NCR

3. Palwal-Sholkha Section of Palwal- Bhuteshwar 3rd line NCR

4. Kadapa-Kamlapuram Sections of Gooty-Renigunta - Patch doubling SCR

5. Bhatapara-Hathband Sections of Bilaspur-Urkura SECR

(ii) New Line

6. Manubolu By-pass of NL Obulavaripalle- Venkatachalam SCR

(iii) Railway Electrification

7. Harichandanpur - Keonjhar, Keonjhar - Porjanpur & Porjanpur - Naranpur Section of Tomka Banspani RE ECoR

8. Kadapa - Kamalapuram Section , Kalamalla - Mangapatanam & Guntakal- Gotty Sections of Renigunta - Guntakal RE Project SCR

3.19 Land Acquisition & Final Location Survey (FLS)

During 2010-11, papers for land acquisition of 442 Hect. were submitted and 1639 km of Final Location Survey (FLS) was carried out in the various projects.

320 ADB funded projects:

RVNL is implementing seven ADB funded projects from the ongoing ADB loan. Of these 7 projects, 2 projects have been fully commissioned. Out of a total project length of 315 kms to be executed through the loan, 215 kms have been completed and the balance work is in progress.

A 2nd ADB Loan is under process for funding of 5 projects, namely:

- Raipur-Titlagarh doubling

- Sambhalpur-Titlagarh doubling

- Hospet-Tinaighat doubling

- Daund-Gulbarga doubling

- Pune-Guntakal Railway Electrification

The funding by ADB requires compliance of various loan covenants on resettlement and rehabilitation of project affected persons, procurement of works and stores following international competitive bidding and implementation of plans for mitigation of social and environmental impact norms. The loan has been successfully negotiated for US$ 500 million. Action for advance preparedness on these projects has been initiated by RVNL and tenders for 3 projects have been invited. Tenders for the balance 2 projects will be invited shortly. RFPs for appointment of NGOs to implement the rehabilitation and resettlement policies of the ADB have been floated.

3.21 Contracts awarded during 2010-11

During 2010-11, contracts worth approximately Rs. 1650 cr. were awarded as compared to contracts worth approximately Rs. 600 cr. awarded during the previous year (2009-10).

The following major contracts were awarded by the Company during the year:

- Construction of roadbed, major and minor bridges and track linking (excluding supply of rails, thick web switches and line PSC sleeper), S&T and OHE and General electrical work in connection with 3rd line between Posita - Manoharpur (11.6 Km) on Chakradharpur Division of South Eastern Railway in Jharkhand state, India. (Rs. 65.47 cr.)

- Carrying out site investigation, detailed design and supervision for construction of roadbed including two tunnels, bridges, P. Way, electrification of track and S&T works, between Nethavaripalli (excl) to Vellikallu (excl) section of Obulavaripalle- Venkatachalam New Line on South Central Railway in Kadapa/Nellore district in the state of AP. (Rs. 32.12 cr.)

- Provision of 4th line between Tiruvallur and Arakkonam - Construction of roadbed, bridges, supply of ballast, installation of track (excluding supply of rails & thick web switches), electrical (Railway Electrification and General Electrification), signaling and telecommunication works in Southern Railway, Tamilnadu (Rs. 65.03 cr.)

- Construction of structural shed with gantry, administrative and other buildings along with ancillary works (civil, telecommunication, illumination and electrification) in connection with setting up of diesel loco component factory for manufacturing and sub assembling of EMD Locos, etc at Dankuni of eastern railway in the state of West Bengal (Rs. 84.21 cr.)

- New line between Obluvaripalle and Venkatachalam - Execution of earthwork in formation, bridges, road under bridges, station buildings, staff quarters and general electrical works including power line crossings from Km 00 to 17 between Obulavaripalle to Nethavaripalle in Southern Central Railway (Rs. 59.87 cr.)

- Construction of new line between Dankuni-Furfura Sharif via Jangalpara (20 Km) in Howrah Division of Eastern Railway in the state of West Bengal (Rs. 89.7 cr.)

- Railway Electrification of Daund - Manmad RE project (Rs. 125.63 cr.)

- Construction of sheds, structures, porta blocks, water supply arrangement, sewerage, drainage, roads, track, S&T, power supply arrangement, general electrical works and supply, erection and commissioning of machinery and plant in connection with setting up of DMU factory of south eastern railway in Sankrail, west Bengal (Rs. 85.46 cr.)

- Proposed doubling of track between Dindigul and Villupuram execution of major and precast minor bridges from Villupuram to Ariyalur and from Valadi to Dindigul in Tiruchhirapalli Division of Southern Railway. (Rs. 168.32 cr.)

- Provision of doubling of track between Ariyalur and Valadi - Construction of roadbed, bridge, supply of ballast, installation of track. (Rs. 189.98 cr.)

- Package-I: "Construction Of Viaduct Including related works For 4.748 Km length Excluding station areas From Ch. (-)1250 To Ch. 4128.00 Between Joka To Behala Chowrasta Including Depot Approach At Joka, In Joka-BBD Bag Corridor Of Kolkata Metro Railway Line". (Rs. 181.14 cr.)

- Package-II : "Construction Of Viaduct Including Related Works For 4.762 Km Length Excluding Station Areas From Ch. 4128.00 To Ch. 9700.00 Between Behala Chowrasta To Mominpur In Joka- BBD Bag Corridor of Kolkata Metro Railway Line". (Rs. 184.72 cr.)

- Execution of Design and Construction of PSC viaduct, embankment and stations including E&M works in connection with extension of Metro Railway line Naopara (excluding) - Baranagar - Dakshineshwarof Kolkata Metro (Rs. 199.87cr.)

- Construction of roadbed, major and minor bridges, track linking & doubling between Tamluk - Basulya Sutahata in Kharagvpur Division of South Eastern Railway in state of West Bengal India. (Rs. 113.54cr.)

4. PERSONNEL DEVELOPMENT

RVNL has been largely relying on sourcing employees on deputation from Railways to meet it''s manpower requirements. However, as a long-term strategy to reduce dependency on Railways, the Company has introduced a policy to form its own cadre through permanent absorption and open market recruitment to which there has been a positive response. As on 31-03-2011, the strength of the Company stood at 273, out of which 78 are RVNL employees.

The Company believes that Human Resource is a key asset of the organization. Skills development of its employees was given special attention through in- house training programmes and deputing employees for external training programmes relevant to their function. Seventy five employees participated in various training programmes during the year.

During the year the perquisites and allowances of the employees were revised with introduction of the ''cafeteria approach'' in accordance with the recommendations of 2nd PRC for Public Sector Undertakings. RVNL has constituted a Remuneration Committee to decide the quantum of Performance Related Pay (PRP) permissible and the eligible employees have been paid the PRP due to them as per the recommendations of the Remuneration Committee.

As a welfare measure, consultation facilities of Allopathic, Homeopathic and Ayurvedic doctors have been arranged in the Corporate Office premises. In addition to organizing social functions for the employees and their wards, picnic/trekking programmes were also arranged as a part of a team building process.

Particulars of Employees under Section 217 (2A) of Companies Act, 1956

None of the employees of the Company has drawn remuneration exceeding the limits laid down under the provisions of section 217(2A) of the Companies Act read with Companies (Particulars of Employees) Rules, 1975 as amended from time to time.

5. Corporate Social Responsibility

As per guidelines of Government of India, Ministry of Heavy Industries & Public Enterprises (Department of Public Enterprises) on Corporate Social Responsibility (CSR) for Central Public Sector Enterprises, RVNL has formulated a plan for implementation of CSR which has been approved by the Board of Directors of RVNL in June, 2010. The initial focus areas of RVNL for CSR are Education and Health. RVNL has constituted a two tier system of Committees at Project Implementing Unit (PIU) and Corporate Office level for efficient and effective implementation of CSR activities under the guidelines of DPE. The Corporate CSR Committee and seven CSR PIU Committees have been established.

AS part of the Corporate Social Responsibility Plan, socio-economic impact studies of three projects were carried out during 2010-11.

6. Sustainability

Sustainability has been introduced in the MoU as an evaluation parameter with a weight age of 5% as per the DPE guidelines. During 2010-11, more than 4000 trees have been planted at various project sites. Project environmental impact studies for 3 projects were also carried out with a view to determine the impact of project implementation on the environment and strategies to mitigate them.

The Company has taken earnest steps to incorporate measures for sustainability in its activities to achieve the following targets for 201 1-2012:

(a) Planting of trees-5250 nos.

(b) Rain water harvesting -6 stations

(c) Provision of solar powered signaling and lighting systems - 6 locations

(d) Preparation of a 5 year plan for sustainability

Planting of trees has already been started during this rainy season. Locations for rain-water harvesting and use of solar power have been identified. A 5 Year plan for sustainability is under preparation and will be ready by September 2011. The plan will focus on recharging of ground water aquifers by rain water harvesting, preservation of forest cover by planting trees etc.

7. Preparedness for implementation of IFRS

The Company has taken advance action for implementation of IFRS (IND-AS) in its accounting procedures. A training programme was conducted in October, 2010 where all officers and staff of Finance and concerned officers of other Departments were exposed to the various features and requirements of IND-AS.

A Trial Run of the financial statements for the year ending 31st March, 2010 was also conducted and results were submitted in February, 2011.

8. Research and Development

During the year RVNL has completed standardization of Bill of Quantities (BOQ) for Electrical Engineering and Signal &Telecommunication Engineering works. The standard BOQ for Civil Engineering Department had already been issued previously. As a result of this standardization, the detailed estimates of all projects are prepared on a common basis in the format of BOQs of the tenders to be floated. This will assist in the evaluation of bids by providing a uniform basis for comparison of the rates obtained across various tenders.

RVNL is required to construct three tunnels including a tunnel of 6.65 Kms length on Obluvaripalle - Krishnapatnam new line project. Such a long tunnel requires specialized ventilation arrangements for which RVNL had commissioned a study as part of the consultancy for tunnel design by International Consultants. The study was completed in October, 2010. The design of the ventilation system shall enhance safety during running of trains in long tunnels and facilitate maintenance of the tunnel.

9. COMPLIANCES

a. Vigilance

The Vigilance organization in RVNL consists of a Part- time Chief Vigilance Officer, one Senior Manager/Vigilance and one Manager/Vigilance reporting to CVO. The major thrust of the Vigilance Department in RVNL is preventive intervention through educating the officers and employees about procedures and guidelines. However, punitive measures and system improvement are also taken by the Vigilance Department.

The Vigilance Awareness Week, was celebrated in RVNL from 25th October 2010 to 1st November 2010. A pledge taking ceremony chaired by Managing Director/RVNL was held on 25/10/2010, during which the pledge was administered to all the officers/staff of Rail Vikas Nigam Limited. Banners/posters relating to vigilance awareness were displayed in the RVNL''s office.

A lecture cum interactive session was held on 27.10.2010 in the Corporate office of RVNL, where Shri A.K.Maitra, Advisor/(Vigilance)/Railway Board released the Fifth Vigilance Bulletin and delivered a lecture on various issues relating to vigilance. The same was attended by Managing Director, Functional Directors and all officers of RVNL. The session was highly interactive and informative and was appreciated by all.

From time to time, guidelines are issued for system improvement/procedure amendments to improve transparency and reducing possibility of corruption/leakage of revenue. In the financial year 2010-11, one letter narrating the guidelines regarding mobilization Advance was issued on 14.03.2011.

b. Memorandum of Understanding

The Company secured "Very Good" rating by Department of Public Enterprises for the year 2009- 10 on the basis of the Memorandum of Understanding between RVNL and Ministry of Railways and achievements of the committed targets.

For 2010-11, the Company has been able to achieve most of the targets set in the MoU and even surpass them. RVNL completed Railway Electrification of 159 Kms and Gauge Conversion of 62 kms, surpassing the target of 142 Kms and 44 kms respectively. The Company, however, fell short of the target of doubling by a small margin and could complete 211 kms of doubling against the target of 233 Kms. The Company was able to surpass the targets for all the financial, enterprise specific, sector specific, corporate social responsibility, sustainability, R&D and IFRS related items set in the MoU 2010-11.

During the year, the Company signed a Memorandum of Understanding (MoU) with Ministry of Railways fixing its physical and financial targets for the year 2011-12. RVNL has committed to achieve 230 kms of doubling, 190 kms of Railway Electrification and completion of civil works of Dankuni workshop by 28th February 2012.

c. Right to Information Act, 2005

Rail Vikas Nigam Ltd. as a wholly owned Government company under Ministry of Railways has put necessary systems in place so that directives issued under the Act are complied with suitably. RVNL has nominated an Appellate Authority/Officer, Central Public Information Officer and one Project level Assistant Public Information Officer for each of the Project Implementing Unit of the Company. The details of the officers nominated under the Act have been uploaded on the website of RVNL to facilitate availability of information about the affairs of the Company.

d. MCA21

Under the flagship of MCA 21 Launched by Ministry of Corporate Affairs, RVNL has been duly filing all forms and returns online. Director Identification Number (DIN) of all the Directors are in place and Digital Signature of Digital Signatures of Managing Director, Director/Operations, Director/Finance, Director/Personnel and Company Secretary have been obtained.

e. Rajbhasha (Official Language)

RVNL has been making concerted efforts to implement the directives of the Government of India on use of Rajbhasha (Official Language) in RVNL. The Rajbhasha department Wing in RVNL is under HR Department with a part-time Mukhya Rajbhasha Adhikari and Upmukhya Rajbhasha Adhikari and a regular Senior Executive. The Mukhya Rajbhasha Adhikari and Upmukhya Rajbhasha Adhikari maintain constant coordination with Rajbhasha Directorate of the Railway Board. During the year 2010-11, one Workshop and three meetings of Rajbhasha Implementation Committee of RVNLwith the representatives of Railway Board''s Directorate have been held. Besides this, Hindi Essay competition, Noting/Drafting competition, Quiz competition were held on the occasion of Hindi Divas on 14th September 2010 and Rs. 42,000/- was awarded amongst successful participants in form of cash prizes. Seventeen officers/staff in the Corporate Office who are using Rajbhasha in drafting notes and letters were selected and given cash awards. Apart from this, Secretarial staffs of RVNL are being regularly deputed to Hindi Computer application training programs.

The Company has set up a reading room-cum-library in the corporate office having a good collection of Hindi books, newspapers and periodicals. The RVNL website has Hindi version pages also and is quite popular among the users.

f. Industrial Relations

The company maintained cordial and harmonious industrial relations.

g. Presidential Directive

During 2010-11, the Company has not received any Presidential Directive from Ministry of Railways.

h. Particulars Relating To Conservation Of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo etc.

(i) Conservation of Energy and Technology Absorption

The Company is conscious of the need to keep all the cost elements at the barest minimum level including the energy cost. It is also aware of the responsibility to conserve energy in an overall energy shortage situation. Energy conservation is being achieved by designing the office lay out in the most energy- friendly manner. The office building is having open spaces and windows on all sides and full use has been made to utilize sunlight for illumination of office accommodation, rooms and chambers. Systems are also in place to conserve electricity during and after hours.

(ii) Foreign Exchange Earnings and Outgo

During the financial year 2010-11, there is no foreign Exchange earnings and outgo for the Company.

10. DIRECTORS''RESPONSIBILITY STATEMENT

The Board of Directors of the Company in pursuance of section 217 (2AA) of the Companies Act, 1956 as amended hereby confirms:

I. that in the preparation of the annual accounts, all the applicable accounting standards along with proper explanation have been followed and there has been no material departure.

II. that such accounting policies were selected and applied consistently and such judgments and estimates were made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company and Profit & Loss of the Company for the year ended on 31st March 2011.

III. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

IV. that the Annual Accounts have been prepared on a going concern basis.

II. BOARD OF DIRECTORS

During April 2010 to March 2011, five meetings of the Board of Directors were held with one meeting in quarter ending June 2010, two meetings in quarter ending September 2010, one meeting in quarter ending December 2010 and one in the quarter ending March 2011.

Mr. A.P. Mishra, Member Engineering /Railway Board took over as Chairman part-time (official) of the Company w.e.f. 27.10.2010. Mr. A.K. Gupta, Advisor (Bridge), Railway Board has been nominated as part- time official Director on the Board of RVNL w.e.f. 05.05.201 1. Mr. Mukul Jain assumed the charge of Director (Operations) of RVNL on 16.06.2010. Mr. Vijay Anand assumed the charge of Director (Projects) on the Board of RVNL w.e.f. 09.04.2011. Dr. K.K. Chaudhuri has been appointed as part-time, non-official, Independent Director on the Board of RVNL w.e.f. 15.12.2010. Professor Dr. S S Chatterji has been appointed as part-time, non-official, Independent Director on the Board of RVNL w.e.f. 13.05.201 1.

Mr. Rakesh Chopra ceased to be the Chairman (part- time) official of RVNL w.e.f. 30.09.2010 due to superannuation from the Ministry of Railways. Mr. Samar Jha and Mr. S.K.Malik ceased to become part- time official Directors on the Board of Company w.e.f. 14.07.2010and30.11.2010 respectively.

The Company would like to place on record deep appreciation and gratitude for all the Directors who ceased to hold office during the year for their valuable contribution in the growth of the Company. The Company compliments them for their support, knowledge and input provided during their tenure of directorship in RVNL. The Company is specially grateful to Shri Rakesh Chopra, Member Engineering and Chairman of the Company, who superannuated on 30th September, 2010 for providing valuable guidance and wholehearted support. Reposing complete faith in the potential of Company, he as Member Engineering, Railway Board was instrumental in getting a number of works transferred to RVNL. This guidance and encouragement has immensely helped the Company''s performance and motivation level.

On the date of report, the strength of the Company is ten Directors comprising of five functional directors including Managing Director, two part-time official directors including part-time (official) Chairman and three (part-time) (non official) directors.

The following Directors are holding office as on the date of the report:-

1. Mr. A. P. Mishra - From 27.10.2010 Member Engineering /Rly. Bd. onwards & Chairman/RVNL (Part-time official)

2. Mr. A.K. Gupta - From 05.05.2011 Advisor (Bridge)/Railway onwards Board & Director/RVNL

3. Mr. Satish Chandra Agnihotri - From 27.01.2010 Managing Director/RVNL onwards

4. Mr. Harish Chandra, - From 11.03.2005 Director (Finance)/RVNL onwards

5. Ms. Gita Mishra - From 13.10.2008 Director (Personnel) onwards

6. Mr. Mukul Jain - From 16.06.2010 Director (Operations)/RVNL onwards

7. Mr. Vijay Anand - From 09.04.2011 Director (Projects)/RVNL onwards

8. Mr. R. N. Aga - From 17.02.2010 Part- time (non official) onwards Director

9. Dr. K.K. Chaudhuri - From 15.12.2010 Part- time (non official) onwards Director

10. Prof. (Dr.) Mr. S.S. Chatterji - From 13.05.2011 Part-time (non official) onwards Director

12. AUDITORS

The Comptroller & Auditor General of India has appointed M/s Bhushan Bansal Jain Associates., Chartered Accountants as Statutory Auditors of the Company for the year ended 31st March, 2011. The Board would like to thank them for the valuable support and guidance during the audit of accounts under review.

13. COMMENTS OF COMPTROLLER & GENERAL (C&AG) OF INDIA

The Comptroller & Auditor General of India has undertaken supplementary audit on accounts of the Company for the year ended 31st March, 2011 under Section 619(4) of the Companies Act, 1956. The comments of the C & AG on the Annual Accounts of the Company for the year ended 31st March, 2011 shall also form part of this report.

14. ACKNOWLEDGEMENTS

We take this opportunity to gratefully acknowledge the cooperation, guidance and support received from Ministry of Railways (MoR), Ministry of Finance, Department of Public Enterprises, various banks, Asian Development Bank, the Zonal Railways, RITES, IRCON, RLDA and our equity partners in Joint Venture Special Purpose Vehicles for their continued interest and support to the Company. The Directors would like to express their thanks for the devotion, commitment and dedication of every employee of the Company because of which your company could face the new challenges and opportunities and create a niche for itself. The Directors also place on record their appreciation for the officials of Comptroller & Auditor General of India for their guidance during the year under review. Last but not the least, the Directors would like to express their deep appreciation and gratitude towards all their predecessors who have been associated with RVNL, for their invaluable contribution to the growth and development of the Company in attainment of the Company''s aims and goals in all spheres.

For and on behalf of Board of Directors

Sd/- Sd/-

(S. C. Agnihotri) (Harish Chandra)

Managing Director Director/Finance

New Delhi

Dt: 26.07.2011

---

Mar 31, 2010

Distinguished Shareholders,

The Directors of your Company are privileged to present the Seventh Annual Report of the Company reflecting the performance of the Company In all spheres, along with Audited Annual accounts, Auditors'' Report and review of the accounts by the Comptroller & Auditor General of India for the financial year 2009-10.

INTEGRAL REPORTS

In accordance with the guidelines on Corporate Governance laid down by Department of Public Enterprises, this report contains a "Report on Corporate Governance, (Annexure-A) and "Management Discussion and Analysis Report" (Annexure-B).

The Report on Corporate Governance underlines RVNL''s philosophy on Corporate Governance, composition of the Board of Directors of RVNL, Information related to Board meetings. Audit Committee, Remuneration Committee and disclosures as required to be made under the aforesaid DPE''s guidelines. The Report also contains a Certificate signed by the Managing Director affirming receipt of compliance with the Code of Conduct from all Board members and Senior Management personnel during the year 2009-10 (placed at Annexure "A-1")

It is also supplemented by a Certificate of compliance on Corporate Governance by a Practicing Company Secretary at Annexure C.

The Management Discussion and Analysis Report provides an overview of the affairs of the Company, the industry scenario, Company''s prospects, Company''s SWOT analysis etc.

It has also an Addendum to the Directors'' Report containing Management replies to the observations made by auditors'' in their report.

The detailed Directors'' Report is produced below:

1. FINANCIAL PERFORMANCE

At the outset, the Directors would like to express their appreciation to the Ministry of Railways'' continued support in ensuring the sustainability of RVNL as a sound business entity. The decision of the Ministry to Increase the management fee for RVNL from 1 to 2% of project expenditure and the provision of an element of incentive will spur RVNL to continuous growth and improved performance.

During the year 2009-10. your Directors are happy to report that RVNl has been able to sustain and improve on the level of financial performance achieved during the previous year. This is despite the fact that the projected expenditure on ADB projects could not be incurred due to non finalization of the loan conditions.

A. Financial Highlights

(i) Project Expenditure : The expenditure on projects increased from Rs.1654.16 crore in 2008-09 to Rs,1749.08 crore in 2009-10 During this period, there has been a substantial increase in the expenditure on projects executed for SPVs and deposit works (on behalf of Cochin Port Trust and SAIL) from Rs.257.02 crore to Rs. 399.90 crore which has also contributed to the income of the Company.

(ii) Net worth : The net worth of the Company has improved on account of transfer of profits to reserve and surplus. Accordingly, the Net Worth of the Company has increased from Rs.2151.07 crore to Rs.2191.78 crore.

(iii) Profit : The gross profit of the Company has improved from Rs 68.10 crore to Rs.80.83 crore Out of this amount, Rs.25.74 crore comes from Management Fee for execution of Railway projects and Rs 32-96 crore comes from execution of projects for other agencies The profit before tax has increased from Rs.57.28 crore In 2008-09 to Rs.67.49 crore In 2009-10.

(iv) Reserves and Surplus : At the end of 2008-09, the reserves and surplus of the Company stood at Rs.66.56 crore. After taking into account the proposed dividend and an equivalent amount to be transferred to general reserves and provision for Dividend Distribution Tax. the balance stands at Rs 106.76 crore under Reserves and Surplus at the end of 2009-10.

v) Dividend : With the Increase in the profitability of the Company, the Directors recommend an increase in payment of dividend from Rs.8 crore in 2008-09 to Rs 10 crore in 2009-10 for consideration by the shareholders.

(vi) D&G Charges : The requirement of additional manpower for execution of projects, increased liability on account of revision of pay of both CDA and IDA employees and general cost increase have been a major challenge in restricting the D&G charges incurred on project execution. This is especially so in RVNL, where expenditure is incurred on Items such as rent, medical facilities, travel etc. which do not form a part of the D&G charges booked by Railways.

However, the Directors are happy to inform shareholders that the overall extent of D&G charge has been limited to 4.58% in 2009-10 compared to 4.38% in the previous year This is still significantly lower as compared to Industry levels.

B. Sources of funds

The total funds received from Ministry of Railways and other sources increased from Rs.6596 crore in the previous year to Rs 8362.26 crore. The details are as under;

(i) Equity : Against an authorized share capital of the Company of Rs.3000 crore. the paid up share capital of the Company remained at the level of Rs.2085.02 crore as In the previous year. Ministry of Railways, Government of India holds the entire share capital of the Company.

(ii) Project Advance from Ministry of Railways (MOR) : During the year, MoR released Rs. 946 crore to RVNL as project advance for execution of projects. The cumulative amount received as advance stands at Rs.3355 crore at the end of the year.

(iii) Loans from IRFC : An additional amount of Rs.370 crore was received as borrowings from IRFC during the year The cumulative amount, thus, received from IRFC amounts to Rs.1871 erore. The principal and cost of borrowings, on the borrowings from IRFC are repaid by MOR through RVNL The rate of interest on the funds borrowed from IRFC during 2009-10 has been 8.7394. During the year, an amount of Rs.43.17 crore and Rs.60.77 crore were paid to IRFC on account of the repayment of principal and interest amount respectively,

(iv) Other sources of funds : The total equity raised by the Joint Venture SPVs of RVNL namely Kutch Railway Company ltd , Haridaspur Paradip Railway Company Ltd., Krishnapatnam Railway Company Ltd., Angul Sukinda Railway Ltd. and Bharuch Dahej Railway Company ltd. stood at Rs. 740 crore till the end of March. 2010. The Increase during the year amounted to Rs.83 49 crore. This includes Rs. 420.30 crore as equity contribution by partners other than RVNL.

While Kutch Railway Company Ltd. has raised a debt of Rs.300 crore. Bharuch Dahej Railway Company Ltd. has also achieved financial closure for raising debt of Rs. 200 crore in the current year against which Rs. 60 crore has been released by the Financial Institutions. The other SPVs are also in the process of financial closure. Project Advance of Rs.57 crore has also been received from Cochin Port Trust and Rs.73 crore from SAIL (through SECR) for execution of projects, during the year.

C. ADB Loan

The cumulative disbursement under ADB Loan has increased to US $ 149.68 million upto 2009-10 against the sanctioned loan amount of US $ 206.19 million The loan period has been extended upto December,2010.

RVNI has been carrying out the activities related to project preparedness for execution of projects under the proposed Second Loan under consideration of sanction by ADB. Upon sanction, RVNL will take up execution of the concerned projects in right earnest.

2. PROJECT DEVELOPMENT & PUBLIC PRIVATE PARTNERSHIP (PPP)

a. Projects transferred

RVNL has been successful in establishing confidence among various stakeholders of the leading role being played by the Company in creation of rail capacity and removal of capacity bottle necks in the country in recognition of the same . In addition to already sanctioned projects. Ministry of Railways has transferred projects as per details given below, involving a total capital expenditure of Rs.9307.33 Cr involving new line projects and electrification of 340.82 Kms length In addition to new line & electrification projects Railway Board has also transferred the civil engineering work of Diesel Loco component factory at Dankuni for execution.

After the closure of financial year 2009-10, Ministry of Railways has assigned 10 new projects to RVNl for execution and taking up bankability studies:

i. Cuddapah - Bangalore New Line In Andhra Pradesh/Karnataka;

ii. Macherla - Nalgonda New Line In Andhra Pradesh/ Karnataka,

iii.Talgoppa - Honnavar New Line in Karnataka,

iv. Bijapur - Shahabad New Line in Karnataka,

v. Dharwad - BelgaunNew Line in Karnataka

vi. Dahod - Indore New Line in Western Rly,

vii.Ahmedabad- Udaipur Gauge Conversion (WesternRly )in Gujarat/Rajasthan,

viii.Khurda Road -Bolanglr New Ure (East Coast Rly-) in Orissa,

ix. Rayadurg -Tumkur New Line (SW Rly) and.

x. Dimapur - Kohlma New Line (N F Rly.).

xi.RVNL has been advised to take up this project through 5PV/BOT as Govt. of Andhra Pradesh has agreed to share 50% cost of the project.

xii.These protects are yet to be sanctioned and are being examined for implementation through PPP is proposed by Govt of Karnataka.

b. Bankability Status of the Projects:

RVNL has successfully completed me process of project development in a timely manner of all the protects in hand. A consultant has also been appointed for development of PPP model for execution of railway projects. An important project entrusted to RVNl Is for appointment oI consultants to undertake Market & Sectoral Studies, with a view to understand developments and potential for future traffic to be moved by Railways and to devise appropriate strategy for the same. RVNL Is in the process for appointment of the consultant RVNl Is also in process for development of logistics parks and mechanlted terminal involving multimodal transfer between rail and barge.

In addition to above, the process for appointing the consultants for under mentioned bankability studies has been initiated as per directions of Railway Board:

1. Buramara-Chakulla New Line with upgradallon of Rupsa-Burarrvara BG line on South Eastern Railway,

2. Electrification of Nallapadu Guntakal Section including Gooty-Pendakallu section on South Central Railway.

C. ADB Projects

The projects under ADB (Phase-1) funding are In the stage of completion and commissioning. Out of seven projects, two projects have been commissioned Rehabilitation and resettlement of project affected persons has been successfully carried out in all the projects following ADB''s policy of Involuntary Resettlement by appointing NGOs. RVNl is In the process of appointing NGOs for S projects, which are to be funded by ADB under the Phase-ll loan.

d. Joint Venture Special Purpose Vehicles

As on date of report, the Company has five Joint Venture SPVs. The detailed performance of each SPV is produced below:

i. Kutch Railway Company limited

The first SPV of RVNL commenced operation in the year 2007, The Company continued to outperform against the projections in the year 2008-09. with the substantial growth in the traffic on line, KRC declared a 3% dividend to its equity shareholders for the year2008-09 During the current year 2009-10, the SPV envisages good results. The SPV had already cleared in advance, part of the term loan taken from the banks for the Implementation of its project. The details of term loans taken by the company & its repayment position as on March 2010 are as follows:



With the Implementation of Bhildi- Samdari GC & other projects on NWR. the capacity of the section to carry traffic had substantially Increased. Keeping In line the development of the Rail Infrastructure and the incremental traffic. Company further foresees substantial growth of traffic on the section as Kandla& Mundra Ports; the major ports on the section have very ambitious development plans, some of which are already being implemented.

Kutch Railway Company limited''s Board has approved survey for doubling of Palanpur - Gandhidham line and the necessary funds for the purpose have been deposited with Western Railway for carrying out the Survey-

ii. Harldaspur Paradip Railway Company limited

Land has been acquired for 68 Km out of the total project length of 82 Km. However, it suffered a setback due to law and order problem in the project area Villagers are obstructing execution of work and are demanding higher compensation. Physical possession of 213 acres is held up because of demand for higher compensation. The project is getting delayed which may further escalate the project cost. To resolve the demand for higher compensation by land losers, State Govt has proposed for payment of additional compensation and the matter is under deliberation between Zonal Railways and Railway Board for payment of additional amount, As a result, there will be an additional cost of Rs. 60 crore over the sanctioned cost of Rs. 55 crore towards land acquisition. The Board of HPRCL has agreed to pay the additional compensation for land;

iii. Krishnapatnam Railway Company Limited

The SPV has commissioned the first phase of part line of 23 kms of the project comprising track and OHE connecting Venkatachalam Railway Station to Krishnapatnam Port. Tins has facilitated evacuation of traffic from/to the Krishnapatnam Port through railways. The port holds huge traffic potential. Loading activities are in progress at both Nidiguntapalem station and Krishnapatnam station.

For the second phase of the project, i.e., venkatachalam - Obulavaripalle . tunneling consultancy contract has been awarded on 31.05.2010 and tender for Obulavanpalle-Ncthrivaripalli section is also under finaliratlon. The work for remaining part of the project is in progress as per target. The doubling of the portion between Venkachalam to Krishnapatnam is being planned.

iV. Bharuch Dahej Railway Company Limited

The SPV has finalized a loan of Rs. 200 crore with Canara Bank and thereby has achieved financial closure Project was progressing satisfactorily; though sometime ago, work was interrupted in a stretch of5 Km in and near Bharuch due to public agitation demanding diversion of the railway alignment to outside the city Meetings had been held at various levels including Chief Secretary, Govt, of Gujarat. Minister of Industries, Gujarat, Principal Secretary, Industries & Mines, Gujarat and Collector. Bharuch in this connection. After several deliberations, the work has resumed in June. 2010.

v. Angul Suklnda Railway Limited

The SPV was formed on 20,02/2009 to execute Angul Sukinda new line project. The SPV has got 10% equity gap to be filled up land Acquisition is In process at appropriate level and award of contract for construction of an Important bridge is in also in process. Appointment of MD of the SPV Is also in process.

RVNL completed the project development of rail connectivity to Rewas & Dighi Ports Execution of these projects is being envisaged by creation of project specific SPVs. The proposals are currently under consideration with Railway Board.

3. PROJECT EXECUTION:

3.1 The performance of RVNL has been improving consistently since its inception in the beginning, some of the projects transferred to RVNL were being executed by the Zonal Railways, however, over the years, the scenario has changed and presently almost all the works assigned to RVNl are being developed, designed, tendered, contracts finalized and works executed by the Company itself. Your Directors are happy to inform that 2009-10 hat been an eventful year in terms of project execution and implementation. In all, during the year, 391 kms of project length has been completed and 576 kms of BG line have been successfully commissioned including important projects such as Bhildi Samdari GC, Mayiladuturai Villupuram GC, Phulera-Ajmer section of Ajmer-Rewari GC Tiruvallur Arakkonam 3rd line Our efforts towards capacity building In execution of signaling and telecommunication works have paid dividends and during the year important doubling. 3rd line projects have been commissioned involving large scale Solid State interlocking and Nls of major yards on busy routes.

3.2 As part of the Vallarpadam-ldapally new line project, RVNl constructed a 4.6 kms long bridge over the back waters in the state of Kerala for providing rail connectivity to the upcoming International transhipment terminal at Vallsrpadam. This is the longest rail bridge in India and was completed in a record time of only 27 months The bridge involved launching of 20 pre-cast ''U'' girders of 20 mtrs span and 200 pre-cast-1 girders of 40 mtrs span in the backwaters and alignment having curvatures up to 4 degrees. This was a unique achievement as generally launching of PSC girders has not been done on curves in railway bridges, launching girders specially designed for this purpose, were imported from China and progress of launching of one girder per day was achieved. This project Is a testimony of RVNL''s endeavor to Implement complex projects on fast track using state-of the-art technology

3.3 Mayiladuturai-Villupuram GC project has been implemented in the delta region of the river Cauvery and has a number of long span bridges. The launching of 30.4 meter girders over rivers Kollidam, Gadtlam and Pennar were carried out with specially designed launching girder having under slung girders and portable cranes. The entire operation so was well planned that not even a single disruption or mishap occurred during the construction of these bodges. The casting of these 30.4 m girders was done using innovating shuttering arrangements in a single cast consisting of bottom slabs, stde walls and deck slabs. This improved the quality of concreting due to reduction in joints and avoiding cold construction joints, thereby providing better durability to increase the longevity of the structure. RVNl achieved the rare teat of launching 21 such girders within In period of only 5 months.

3.4 Tiruvallur-Arakkonam 3rd line project involved the construction of the longest sub way under running railway tracks in India The 87 m long sub-way passing under 12 running tracks was constructed by using box pushing technology without any disruption to running traffic and untoward incident. This is yet another example of RVNls capability of meticulous planning and Implementation of projects.

3.5 The Phuksra Ajmer section of the Ajmer- Rewan GC project was more m the nature of a doubling project Involving 11 block sections and 10 stations .The project involved working dose to the existing running line. Meticulous planning and attention to details resulted in the completion of this 5O kms long section without any problem Signaling works have been carried out without any disruption to traffic.

3.6 During the year. RVNL also had the unique distinction of successfully launching pre cast PSC girders of 43.84 m length each weighing 580 MT for the first time on Indian Railways for the bridge across the river Luna in Handaspur Paradip new line project using a specially designed trolley, launching girders and portal frames.

3.7 The Company has achieved great success in commissioning signaling works associated with doubling, third line, auto signaling, yard remodeling and gauge conversion. Station commissioning have increased from 24 in2007 08 to 33 in 2008 09 and in the year 2009-10, 38 stations have been commissioned. RVNL has been able to commission telecom works of optic fibre communication and 6 Quad cables at a rate of 270 kms per year RVNL has also successfully commissioned yard remodeling of Phulera. Bhalapura, Urkura connection with doubling and third line works.

3.8 RVNL has executed Railway Electrification of 92 RKM (43 RKM in SCR & 49 RICH in ECOR) during 2009-10. Further, 200 RKM of RE has been planned during 2010-11. In 2009-10, a revised BOQ was prepared for expeditious execution of railway electrification projects wherein Over Head Equipment items have been reduced from 187 to 43 and Traction Sub Station items from 148 to 34 This inter- alia will give tangible benefits in terms of reduction in supervision and accountal of material as well as supervision of billings and verification of prompt payments Similarly, a revised BOQ was prepared for General Electrical Works,

a) Physical site of Projects

RVNL presently has 69 projects, broadly classified under the following heads:

Strengthening of Golden Quadrilateral - 28 projects and Diagonals

Provision of Port connectivity - 32 projects and corridors to hinterland

Kolkata Metro Rail Links - 4 protects

Other New Line Projects - 3 projects

Construction of Workshop & Multi - 2 projects Functional Complexes

Of the 69 projects, 67 pertain to construction of railway lines which are grouped under five categories

These projects are spread all over country and for efficient implementation of projects. Project Implementation Units (PIUs) have been established at 12 locations i.e. New Delhi, Mumbai. Kolkata, Chennai. Secunderabad, Bhubaneshwar, Bilaspur, Bhopal, Jaipur, Bangalore. Pune & Raipur.

b) Status of physical progress of projects

The status of the 69 projects is as under -

1. Projects completed upto March-10: 22

2. Projects under Implementation : 44

3. Projects under sanction and : 3 development stage

During the year, RVNL physically completed 3 kms of doubling. 287 kms of gauge conversion. 9 kms of new line and 92 kms of railway electrification works, i.e. a total of 391 kms. RVNL has till now completed a total of 422 Kmt of doubling, 1517 Kms of gauge conversion. 185 Kms of new lines and and 1152 Kms. of Railway Electrification Thus as on 3103.10, 3276 km out of a total length 7747 km of 69 projects assigned to RVNl , have been completed

c) Projects commissioned during 2009-10

RVNl commissioned and opened for traffic ,72 kms of doubling. 404 kms of gauge conversion, 9 kms of new line and 92 kms of railway electrification. This includes projects opened for traffic operations during the year even if part of the line may have been physically completed in previous years Details of the works commissioned during 2009-10 are as under:

S.No. Name of Project Length (Km)

1 Balance Section of Hospet Guntakai 3 Doubling

2 Pullampet - Bhakarapet Section of 43 Gooty-Remgunta - Patch Doubling

3 Bhiidi-Samdart Gauge Conversion 223

4 Phulora - Ajmer Section of Ajmer- 80 Phulera-Rmgus- Rewari Gauge

Conversion

5 Villupuram - Cuddalore - 101 Sirkaihi Section of Thanjavur-

Villupuram Gauge Conversion

6 Idapalit-Vallarpadam New line 8.86

7 Tiruvallur - Arakkonam 3rd line 26

8 Nandlur - Bhafcrapet & Bhakrapet - 43 Kadapa Section of Remgunta

Guntakai Railway Electrification

9 Tomka - Hanchanandpur Section ol 49 Tomka Banspanl Railway

Electrification

d) Projects under Implementation

S.No. Name of Project

Doubling

1. Khurda Road - Barang 3rd Line

2. Cuttack - Barang

3. Rajatgarh - Barang

4. New Delhi - Tilak Bridge 5th & 6th Line

5. Palwal - Bhuteswar 3rd Line

6. Aligarh - Ghaiiabad 3rd Line

7. Balance Section of Attipattu - Korukkupet 3rd Line

8. Balance Section of Gooty -Renigunta Patch

9. Raichur -Guntakai

10. Panskura -Kharagpur 3rd line

11 Tikiapara -Santragachl

12. Balance Section of Bilaspur -Urkura 3rd line

13. Bhopal -Bina 3rd Line

14 Jakhpura -Haridaspur 3rd line

15 Salka Road -Annuppur (With Flyover)

16. Daund -Gulbarga

17. Rajgoda -Tamluk (Jn. Cabin)

18. Sambalpur -Titlagarh

19. Raipur -Titlagarh

20. Hospet -Tinaighat

21. Goelkera -Manoharpur 3rd Line

22. Banaspani -Jakhpura

23. Tiruvallur -Arakkonam 4th line

24. Villupuram -Dindigul

25. Tamluk Jn. Cabin -Basulya Sutahata Gauge Conversion

26. Bharuch - Samm - Dahej New Line

27. Haridaspur - Paradeep

28. Balance Section of Obulavaripalle Krishnapatnam

29. Dalli- Rajhara - Raoghat

30. Angul - Sukinda

31 Buramara - Chakulia New Line With Upgrading of Rupta - Buramara

32. Dankuni - Furfura

33. Cuddapah - Bangalore 34 Dimapur - Kohima

Railway Electrification

35. Balance Section of Renigunta - Guntakal Electrification

36.* Balance Section of Tomka - Banaspani

37. Pune - Guntakal

38. Daund - Manmad Ind. Puntamba Shirdi Kolkata Metro Rail Line Projects :

39. Baranagar - Barrackpore & Bakshlneswar

40. Dum Dum Airport - New Garia via Raerhat

41. joka - Blnoy Badal Dtnesh Bagh via Majerhat

42. Naupara(Ex) - Baranagar Extension of Dumdum

Baranagar

Other than Track Construction Works :

43. Construction of Multi -Functional Complexs (MFCs)

44. Civil Engineering Works in connection with Diesel Loco Component Factory, Dankuni

Note:- S.No. 14 & 36 are material modification of Daitori - Bansponi New Line Project.

c) Projects under Sanction and Development

1. Surat-Hajira New Line

2. Rewas Port New Line

3. Dighi Port New line

f) Projects Handed Over to Railways

The following projects have been handed over to Zonal Railways during 2009-10:

1. Thanjavur-Vtllupuram Gauge Conversion

2. Hospet Guntakal Doubling

3. Phulera - GahkKa Section of Ajmer-Phulera- Ringus-Rewan Gauge Conversion

4. Bhildt -Samdan Gauge Conversion

S. Section of Gooty -Renugunta patch doubling

g) ADB funded projects

RVNL Is Implementing seven ADB funded projects for the first time In Indian Railways. In addition to these projects, it has been decided to fund another five projects namely Raipur-Titlagarh doubling. Sambhalpur-Tltlagarh doubling, Hospet-Tirvaighat doubling, Daund-Gulbarga doubling and Pune- Guntakal RE through a second ADB loan, The funding by ADB requires compliance of various loan covenants on resettlement and rehabilitation of project affected persons, procurement of works and stores following international competitive bidding and implementation of plans for mitigation of social and environmental impact norms and RVNL has taken action for protect preparedness so that tenders can be floated on receipt of "in principle" approval of ADB During the calendar year 2009. RVNL has claimed reimbursement of expenditure of Rs. 119.79 Cr. and the target for 2010 is Rs. 178.56 Cr.

h) Contracts awarded during 2009-10

The following contracts were awarded by the Company during the year under review:

- Construction of Roadbed, major and minor bridges, track linking (excluding supply of rails, thick web switches & sleepers) S&T and OHE & General Electrical work In connection with 3rd line between Habibganj & Bina (144.76) km on Bhopal Division of West Central Railway Package No 2 between GanjBasoda (Exd) to Sanchi (ind) chalnage 928.500 to 879.750 (Km48.756)(IFB No.200IV RVNL/Mumbai/Blna-Ganj Basoda Sanchi Habibganj (15O cr.).

- Construction of Roadbed, major and minor bridges, track linking (excluding supply of rails, thick web twitches & sleepers) S&T and OHE & General Electrical work In connection with 3rd line between Habibganj & Bina (144.76) km on Bhopal Division of West Central Railway Package No 1 between Bina(incl) to GanJ Basoda (Ind) chalnage 975.16 to 928-500 (Km46.66)(IFB No 200 RVNL/Mumbai/Bina-Ganj Basoda Sanchi Habibganj (141 87 Cr.)

- Construction of Roadbed, major and minor bridges, track finking (excluding supply of rails, thick web switches & sleepers) S&T and OHE & General Electrical work In connection with 3rd line between Habibganj & Bina (144.76) km on Bhopal Division of West Central Railway Package No.3 between Sanchl(Exd) to Hablbganj(lncl) chxmjgr 8797S0 to 830 850 (Km 48 91 IFB NO.20CW RVNL/Mumbai/Bina-Ganj Basoda-Sancht- Habibganj (135.65 Cr.).

- Construction of roadbed, supply of ballast, major and minor bridges, residential and service buildings and general electrical work etc for Dalllrajhara and Keoti section (42 Km) in connection with a new rail link between Oallirajhara and Rowghat in Raipur Division of South East central railway in the state of Chatisgarh. India. (97.81Cr.).

- Design, supply, erection, testing and commissioning of 132 KV single circuit two phase line on DC tower from Keonjhar-TSS to Harichandanpur-TSS to Harichandanpur-TSS including 132/2S KV, 2x21.6 MVA traction sub station at Harichandanpur and their associate equipments in Tomka Jjroli section under Khurda road division of East Coast Railway in the state of Orissa. (18.44 Cr.)

- Construction of quarters and service buildings including approach road in connection with Civil and electrical works of railway electrification of Nandaiur Guntakai section between Kondpursm(Excl) - Guntakai (Incl) stations on Guntakai Division of South Central Railway (12.74 Cr.).

- Earthwork, bridges and site facilities between new Manubolu station and Venkatachalam Road Junction in SC Railway (12.95 Cr.).

- Construction of bridge No.601 at Ch 289/500 between Kamalapuram Vferragudipadu . Br No. 743 at Ch 373/900) between Kimali - juturu and Br No. 744 PSC slab) at CH 374/ 500 between Klmali - Juturu stations in connection with patch doubling work of Gooty -Pullampet project on Guntakai division of South Central Railway (11.45 Cr.).

- Construction of quarters and service buildings including approach road in connection with Civil and electrical works of railway electrification of Nandalur - Guntakai section between Kondpuram(ind) stations on Guntakai Division of South Central Railway (9.71 Cr.).

I) Important contracts awarded after the closure of Financial year

After the closure of the financial year and as on date of report, following contracts have been awarded:

- Construction of roadbed, major and minor bridges and track linking (excluding supply of rails, thick web switches and line PSC sleeper ),5&T and OHE and General electrical work in connection with 3rd line between Posita - Manoharpur (11.6 Km) on Chakradharpur Division of South Eastern Railway in Jharkhand state, lndta.(65.47 cr.)

4. PERSONNEL DEVELOPMENT

The HR policies of RVNL seek to align the capabilities of skilled and qualified manpower with the organitation''s on going business plan and requirements. The manpower requirement of RVNL at present, is met mainly through deputation from Indian Railways. As on 31st March 2010, there were 245 employees on its roll including regular employees and deputationisls. The total number of female employees is 11.

However, as a part of long term manpower strategy, the company has introduced an attractive induction policy through permanent absorption of deputationlsts in the regular cadre As on 31st March 2010.12 deputationists have been absorbed on permanent basis in the Company. The Company has also framed a clear and concise Recruitment and Promotion Policy to effectively identify, attract and retain capable employees As part of the policy, the Company is recruiting technical and experienced persons from the Railways & PSUs and fresh and young hand from the open market.

The Company has implemented the 2nd Pay Revision Committee''s recommendations for CPSEs. As part of the recommendations, the Company has also constituted a Remuneration Committee to decide payment of Performance Related Pay (PRP) / PLI to the employees. Accordingly, part PRP 12.5% has been disbursed to the employees as an interim measure during the year.

Employees are viewed as an asset to the enterprise whose value is enhanced by developing individual potential and skill. As a part of this philosophy, the employees have been nominated to various framing programmes and seminars relevant to their job requirements.

As a welfare measure, the company maintains spacious and aesthetically designed well equipped offices not only at the corporate level but also in the fields, in addition to a liberal medical facility, the Company also has in-house consultation facility of Allopathic, Homoeopathic and Ayurvedic doctors in the office premises. The Company has also periodically been organizing social functions for the employees and their wards As a result of all these efforts, the Company has maintained cordial relations with its employees during the year.

Particulars of Employees under Section 217 (2A) of Companies Act, 19S6.

Employees of the Company who have drawn remuneration exceeding the limits laid down under the provisions of section 217(2A) of the Companies Act read with Companies (Particulars of Employees) Rules. 1975 as amended from time to time is placed as Annmute AL.

5. COMPLIANCES

a. Vigilance

The Vigilance department in RVNL consists of a Part time CVO, one Manager and one Assistant Manager reporting to CVO. The major thrust of the Vigilance Department in RVNL is preventive intervention through educating the officers and employees about procedures and guidelines.

The Vigilance Awareness Week was celebrated in RVNL from 3rd November. 2009 to 7th November,2009. A pledge taking ceremony chaired by Managing Director/RVNl was held on 03/11/2009, during which the pledge was administered to all the officers and staff of Rail Vikas Nigam Limited. Banners/posters relating to vigilance awareness were displayed in the RVNL''s office.

A seminar cum interactive session was held on 06.11.2009 in the Corporate office of RVNL. wherein Shri A.P. Mishra, Adviser/(Vig)/Railway Board delivered a lecture on various issues relating to vigilance. The same was attended by Shri S.S. Gupta. ED/Vig(E)/Railway Board, Shri A.K. Dutta, ED/Vig (elect). Managing Director. Directors and all officers of RVNL. The session was highly inter active and Informative and was appreciated by all The Fourth Vigilance Bulletin was released by Shri A.P. Mishra. Advtser/Vigilance/Railway Board during the Vigilance awareness week.

b. Memorandum of Understanding

The Company secured a rating of "Very Good" by Department of Public Enterprises for the performance of the Company for the year 2008-09 on the basis of the Memorandum of Understanding between RVNL and Ministry of Railways and the achievement of the committed targets.

During the year, the Company signed a Memorandum of Understanding (MOU) with Ministry of Railways fining its physical and financial targets for the year 2010-11 RVNL has committed to achieve 44 kms of Gauge Conversion, 233 kms of Doubting and 142 kms of Railway Electrification.

c. Right to Information Act, 2005

Rail Vikas Nigam Limited as a wholly owned Government company under Ministry of Railways has put necessary systems In place so that directives issued under the Act are complied with suitably. RVNL has nominated an Appellate Authority/Officer, Central Public Information Officer and one Project level Assistant Public Information Officer tor each of the Project Implementing Unit of the Company. The details of the officers nominated under the Act have been uploaded on the website of RVNL to facilitate availability of information about the affairs of the Company.

d. MCA 21

Under the flagship of MCA 21 launched by Ministry of Corporate Affairs. RVNL has been duly filing all its forms and returns online Director Identification Number (DIN) of all the Directors are In place and Digital Signatures of Managing Director. Director/ Finance and Company Secretary have been obtained.

e. Rajbhasha (Official language)

RVNL has been making concerted efforts to implement the directives of the Government of India on use of Rajbhasha (Official Language) In RVNL The Rajbhasha department Wing in RVNL Is under HR department with a part time Mukhya Rajbhasha Adhikari and Upmukhhya Rajbhasha Adhikari and a regular Sr Executive. The Mukhya Rajbhasha Adhikari and Upmukhhya Rajbhasha Adhikari maintain constant coordination with Rajbhasha Directorate of the Railway Board.

During the year 2009-10, one Workshop and three meetings of Rajbhasha Implementation Committee of RVNL with the representatives of Railway Board''s Directorate have been held. Besides this, Hindi Essay competition, Noting/Drafting competition and Quiz, competition were held on the occasion of Hindi Divas on 14th September 2009 and Hi. 17.250/- was awarded amongst successful participants In form of cash priies Fourteen officers/Staff in the Corporate Office who are using Rajbhasha in drafting notes and letters were selected and given cash awards. Apart from this, Secretarial staffs of RVNl are being regularly deputed to Hindi Computer application training programme organized by C Dac Noida as a continuous effort.

The Company has set up a reading room cum library in the corporate office having a good collection of Hindi books, newspapers and periodicals. The RVNL Website has a Hindi version pages also and is quite popular among the users.

In the year, Deputy Director, Rajbhasha Vibhag, Home Ministry has inspected Corporate Office and Bhopal Unit to assess progress of use of Rajbhasha and has expressed satisfaction on progressive use of Hindi in official works in RVNL

f. Industrial Relations

During the year, Industrial relations remained cordial.

g. Presidential Directive

During 2009-10. the Company received Presidential Directive from Ministry of Railways on 17th July. 2009 for implementation of recommendations of 2nd IDA Pay Revision Committee for CPSEs. The recommendations have been duly complied with

h. Particulars Relating To Conservation Of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo etc.

(i) Conservation of Energy and Technology Absorption

The Company Is aware of the responsibility to conserve energy and to keep the energy cost at the barest minimum level. At present, within the scope available, systems have been put in place for energy conservation. It has been achieved by designing the office lay out in the most energy friendly manner. Appropriate systems are in place to conserve energy by using it only when work so demands.

(ii) Foreign Exchange Earnings and Outgo During the financial year 2009-10. the Company spent Rs. 5.24 lakhs in foreign currency towards foreign travel of RVNL officials for study visits etc The Company also spent Rs. 34.47 lakhs in foreign currency (fee paid to Padeco , Japan) towards consultancy services for monitoring of implementation of ADB funded. Phase-1 projects. The Company did not earn any foreign exchange.

6. DIRECTORS'' RESPONSIBILITY STATEMENT

The Board of Directors of the Company in pursuance of section 217 (2AA) of the Companies Act, 1956 as amended hereby confirms:

I. Thai in the preparation of the annual accounts, all the applicable accounting standards along with proper explanation have been followed and there has been no material departure.

II. That such accounting policies were selected and applied consistently and such judgments and estimates were made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company and Profit ft loss of the Company for the year ended on 31st March 2010.

III. That proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956. for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

IV. That the Annual Accounts have been prepared on a going concern basis.

7. BOARD Of DIRECTORS

During April 2009 to March 2010. Five meetings of the Board of Directors were held with one meeting in quarter ending June 2009, two meetings in quarter ending September 2009, one meeting In quarter ending December 2009 and one in quarter ending March 2010.

Mr S.C Agnihotri. took over as Managing Director of the Company w.e f. 27.01.2010. Mr, Mukut Jain assumed the charge of Director (Operations) of RVNL on 16.06.2010. Mr, Samar Jha. Additional Member (Budget)/ Railway Board was nominated as Part time official Director as a special case on the Board of the Company w.e.f 05,01.2010. His nomination as Director on the Board of RVNL was withdrawn by Ministry of Railways vides its Order No. 2003/PL/92/7 dated 14.07.2010 Mr S.K Malik. Additional Member(CE). Railway Board was nominated as part-time (official) Director on the Board of RVNL w.e.f 14.01.2010.

Mr.R.N.Aga was appointed as part-time (non-official) (Independent) Director on the Board of the Company w.e.f. 17.02.2010.

Mr, D C. Mttra ceased to be Managing Director on the Board of RVNL w.e.f 30.09.2009 due to hit superannuation Mr. Ranjan K.Gain ceased to be Director (Operations) of RVNL w.e f. 31.08.2009 on compaction of his tenure. Mr. M.S.Khan, Additional Member Budget). Railway Board and Mr. R. P. Gupta. Adviser(Works) ceased to become part-time official Directors on the Board of Company w.e.f 31.10.2009 and 30.092009 respectively due to their superannuation from Ministry of Railways.

The Company would like to place on record its deep appreciation and gratitude to all the Directors who ceased to hold office during the year for their valuable contribution In the growth of the Company. The Company compliments them for their support, knowledge and input provided during their tenure of directorship in RVNL

On the date of report, the strength of the Company is seven Directors comprising of four functional directors including Managing Director, two part-time official directors including part-time (official) Chairman and one (part-time) (non-official) (Independent) Director.

The following Directors are holding office as on the date of the report:-

1. MrRakedi Chopra - From 05 06 2009 Member Engineering/ Railway onwards Board & Charman/RVNl (Part-time official)

2. Mr SC Agnlhotn - From27.01 2010 (AN) Managing Dtrector/ RVNL onwards

3. Mr. Marlsh Chandra. - From 1L03 2006 (AN) Director (Flnancc)/ RVNL onwards

4. Mi Gita Miihra - From 13 10 2008 (FN) Director (Personnel) onwards

5. Mr Mukul jain - From 16 06 2010 (AN) Director (Operations) /RVNl onwards

6. Mr. S.K. Malik - From 14 01.2010 AM(CE)/Railway Board & onwards Director/RVNI

7. Mr R.N Aga - From 17 02 2010 Part-time (non-offlclal) onwards Director

8. AUDITORS

The Comptroller & Auditor General of India has appointed M/s Bhushan Bensal Jain Associates, Chartered Accountants as Statutory Auditors of the Company for the year ended 31st March. 2010. The Board would like to thank them for the valuable support and guidance during the audit of accounts under review

9. COMMENTS OF COMPTROLLER & GENERAL (C&AG) OF INDIA

The Comptroller & Auditor General of India has undertaken supplementary audit on accounts of the Company for the year ended 31st.March.2010 under Section 619(4) of the Companies Act, 1956. The comments of the C& AG on the Annual Accounts of the Company for the year ended 31st March, 2010 shall also form part of this report.

10. ACKNOWLEDGEMENTS

We record our appreciation and thanks to Ministry of Railways (MOR). Ministry of Finance, various banks, the Zonal Railways, RITES. IRCON. RIDA for their continued Interest and support to the Company.

We take this opportunity to applaud the employees of the Company at ail levels, which are the pillar of strength of the Company, for their Invaluable contribution to the growth of the Company.

We would also like to thank the officials of Comptroller & Auditor General of India for their co operation and guidance during the year under review.

On this occasion, we would also like to acknowledge the contribution made by all the predecessors, who have been associated with RVNL and whom efforts have brought the Company to its present status and have played key role in attainment of the Company''s aims and goals in all spheres

For and on behalf of the Board of Directors

Sd/- Sd/-

(S.C.Agnlhotri) (Harish Chandra)

Managing Director Director/Finance

New Delhi

Date : 27.07.2010

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Mar 31, 2009

The Directors of your company feel privileged to present the sixth Annual Report of the Company reflecting the performance of the Company in all spheres, along with Audited Annual accounts, Auditors Report and review of the accounts by the Comptroller & Auditor General of India for the financial year 2008-09.

In accordance with the guidelines on Corporate Governance laid down by Department of Public Enterprises in June 2007 and as duly adopted by RVNL from the previous year , this report contains a "Report on Corporate Governance" (Annexure-A) and "Management Discussion and Analysis Report" (Annexure-B).

The Report on Corporate Governance underlines RVNLs philosophy on Corporate Governance, composition of the Board of Directors of RVNL, information related to Board meetings, Audit Committee and disclosures as required to be made under the aforesaid DPEs guidelines. The Report also contains a Certificate signed by the Managing Director affirming receipt of compliance with the Code of Conduct from all Board members and Senior Management personnel during the year 2008-09 (placed at Annexure "A-1")

It is also supplemented by a Certificate of compliance on Corporate Governance by a Practicing Company Secretary at Annexure C.

The Management Discussion and Analysis Report provides an overview of the affairs of the Company, the industry scenario, Companys prospects, Companys SWOT analysis etc.

It has also an Addendum to the Directors Report containing Management replies to the observations made by auditors in their report.

The detailed Directors Report is produced below:

1. FINANCIAL PERFORMANCE

Your Directors are happy to report to the Shareholders that the performance of RVNL has continued to improve during the year 2008-09 and as a result, it has been able to further consolidate its financial position.

A. Financial Highlights

(i) Turnover: RVNL has been making significant contribution to the capacity augmentation programme of Indian Railways. This contribution in financial terms is reflected in the turnover of the Company which is capital expenditure incurred on the projects during the year. The turnover of the Company has increased from Rs. 1618.73 crore in 2007-08 to Rs. 1698.38 crore in 2008-09. RVNL is also an executing agency for the SPV projects and the expenditure incurred on these projects is Rs.91.74 crore. The company is also executing a prestigious project for Cochin Port Trust under the Ministry of Shipping and has executed works on this account to the tune of Rs.143.79 crore during the year. The cumulative figure of project expenditure upto 31st March 2009 is Rs.6041.75 crore.

(ii) Net Worth : Due to the increase in profit and higher transfer to reserve & surplus, the Net Worth of the Company has registered an increase from Rs.2119.09 crore to Rs.2151.07 crore in the current year.

(iii) Profit : This year , the Company has significant other income taking the Gross profit to Rs. 68.10 crore. The gross income from project execution increased from Rs. 27.11 crore in 2007-08 to Rs. 34.66 crore in 2008- 09 and the profit after tax increased from Rs. 28.43 crore to Rs. 40.83 crore during this period. The projects undertaken for SPV and other organizations have made significant contribution to the bottom line because of better margins.

(iv) Dividend : With the improved performance of the Company during 2008-09, Directors are happy to recommend a dividend of Rs. 8 crore, as against Rs. 5 crore declared for the previous year, for consideration by the shareholders.

(v) Reserves and Surplus : The amount of profit taken to Reserve and Surplus during 2008- 09 after taking into account the proposed dividend and provision for Dividend Distribution Tax is Rs. 31.47 crore against Rs.22.58 crore in the previous year. For the financial year 2008-09, the Company has proposed to transfer an amount equivalent to Dividend to General Reserves. The accumulated Reserves & Surplus of RVNL at the end of 2008-09 stands at Rs.66.55 crore against Rs. 35.08 crore at the end of the previous year.

(vi) D & G Charges : RVNL has been striving to maintain a lean and efficient organization and keep the overheads below the industry standards. The expenditure on project monitoring and supervision (D&G charges) as a percentage of total expenses increased to 4.38% in 2008-09 from 3.85% in 2007-08. This increase was mainly a result of the obligations arising out of implementation of the Sixth Pay Commission recommendations for employees under CDA, Second Pay Committee Recommendations for employees under IDA and making necessary provisions for payment of arrears on this account in the ensuing year. However, despite this added burden, the average D&G charges is significantly lower than the average of 6.43% to 13% allowed to different departments in Railway construction projects.

B. Sources of funds

During the year, RVNL continued to obtain funds for

project execution from the Ministry of Railways, borrowings from IRFC and through funds received from the Special Purpose Vehicles created for specific projects.

(i) Equity :Against an Authorized Share Capital of the Company of Rs.3000 crore, the paid- up share capital of the company increased from Rs.2015.02 crore in 2007-08 to Rs.2085.02 crore in 2008-09. This is due to the increase in equity contribution from the Ministry of Railways, Government of India who holds the entire paid up share capital of the Company.

(ii) Project Advance from Ministry of Railways (MoR): During the year, MoR released Rs. 1242 crore to RVNL as project advance. As a result, the cumulative amount received from MoR for project execution has increased from Rs.1167 crore in 2007-08 to Rs.2409 crore in 2008-09.

(iii) Loans from Indian Railway Finance Corporation (IRFC) : Borrowings from IRFC have increased by Rs.293 crore during the year and the total loan amount has increased from Rs.1208 crore in 2007-08 to Rs.1501 crore. The rate of interest on the funds borrowed from IRFC during 2008-09 has been 9.72%. As per MoU with MoR, the MoR shall pay, through RVNL, the principal and cost of borrowing on the entire sum of the borrowed funds.

(iv) Other sources of funds: The Joint Venture SPVs of RVNL, namely Kutch Railway Company Limited , Haridaspur Paradip Railway Company Limited, Krishnapatnam Railway Company Ltd. and Bharuch Dahej Railway Company Limited have raised a total equity to the tune of Rs. 635.52 crore till date which includes Rs. 339.65 crore equity from shareholders other than RVNL.

Kutch Railway Company Limited has raised a debt of Rs. 300 crore and the other SPVs are now in the process of raising funds through market borrowings for financing of projects. Project Advance of Rs. 233.79 crore has also been received from Cochin Port Trust for execution of Idapalli-Valarpadam project.

C. Reimbursement against ADB Loan

During the year 2008-09, claims amounting to over US$ 48.13 million were presented to ADB for reimbursement of expenditure incurred on ADB funded projects. Although the amount was less than the previous year figure of over US$ 50 million, the extent of claims raised in 2008-09 was, in Rupee terms, Rs.226 crore against Rs. 205 crore in the previous year. The lower value in US dollar terms was as a result of applicable exchange rates during the respective years.

The ADB is now considering extending a second loan for improvement of rail infrastructure in the country for which the modalities are being worked out.

2. PROJECT DEVELOPMENT & PUBLIC PRIVATE PARTNERSHIP (PPP)

a. Projects transferred

As an acknowledgement of the domain expertise acquired by RVNL in timely implementation of large and difficult projects, Railway Board continued to repose faith and transferred more projects during the year.

SNo Name of Type of Project Length Project Project (Km) Cost (Rs. In cr.)

1. Thiruvallur- 4th line 28 79 Arakkonam

2. Villupuram- Doubling with RE 270 1200 Dindigul

3. Buramara- New line with 50-NL 467 Chakulia upgradation of 75- Rupsa-Buramara upgradation

4. Logistics Park at Logistics Park Boraki

5. Shelvona Multimodal Riverside 300 Terminal Terminal

These projects involved capital expenditure of Rs.2046 cr. and doubling/4th line project with Railway Electrification of 423 kms length. The total Order Book as on 31st March, 2009 stands at around Rs.19000 cr. In addition to these projects, Railway Board also transferred an entirely new genre of projects involving development of logistics parks and mechanized terminal involving multimodal transfer between rail and barge.

b. Project Development & Bankability Studies RVNL successfully completed the process of project development of all the projects in hand in a timely manner. These include 5 projects, which are currently under processing for funding by ADB under 2nd loan. The bankability of these projects was examined following the ADB procedure, which includes social and environmental examination and economic analysis by Scott Wilson. Two of the unsanctioned projects viz, rail connectivity to Dighi Port and Rewas Port were sent to Railway Board for sanction.

c. New Projects & Assignments Railway Board assigned the task of development of PPP model for execution of railway projects through award of concession by following the process of competitive bidding. It is considered to be a complicated and difficult structuring. RVNL has initiated the process of fixing the consultant. Railway Board entrusted another assignment to RVNL for fixing up consultants and undertaking Market & Sectoral Studies, with a view to understand the sectoral developments and potential for future traffic to be moved by Railways and to devise appropriate strategy for the same. RVNL has initiated the process for fixing the consultant.

d. Multilateral Funding

The projects under ADB (Phase-I) funding are fast reaching the stage of completion and commissioning. Two projects have been commissioned. Rehabilitation and resettlement of project affected persons has been successfully carried out in all the projects following ADBs policy of Involuntary Resettlement by appointing NGOs. RVNL is in the process of appointing NGOs for the 5 projects, which are being processed for funding by ADB under the 2nd loan. RVNL has taken the advance action based on ADBs projects preparedness checklist for procurement of civil contracts for these projects and is ready with bidding documents for all the projects.

e. Joint Venture Special Purpose Vehicles

A number of projects are being funded and executed by the mode of Public-Private Partnership (PPP) in the railway sector. RVNL has been entrusted with the task of promoting PPP for railway projects and the Company has made significant progress. The model followed by RVNL is to form a Special Purpose Vehicle (SPV) for port connectivity/strengthening of Golden Quadrilateral, with partnership from the stakeholders like ports, the users of line and the respective state governments.

As on the date of report, RVNL has formed five Special Purpose Vehicles (SPVs), Kutch Railway Company Limited, the first SPV of RVNL, which commenced operation in the year 2007 continues to outperform. At this pace of growth in traffic, it is expected that the line will reach the saturation level in the next 5 years. A proposal has therefore been mooted to double the line by the company and take up the preliminary studies.

Krishnapatnam Railway Company Limited commissioned the part line (23 kms) of the project connecting Venkatachalam Railway Station with Krishnapatnam Port. This has facilitated evacuation of traffic from/to the Krishnapatnam Port through railways. In order to avoid reversal of trains at Venkatachalam station, another leg connecting Venkatachalam road junction station with Monobulu is under construction. The port holds huge traffic potential and there is demand to double the line which has recently been commissioned.

Bharuch Dahej Railway Company Limited has started civil construction activity of gauge conversion between Bharuch and Dahej. The project is expected to be commissioned by December, 2010. The State Government is also developing a multimodal logistics park at Dahej to be served by this line.

Angul Sukinda Railway Limited became operational with the signing of Shareholders Agreement, to execute Angul-Sukinda new line project. Land acquisition is in progress and award of contract for construction of important bridge is in process.

Haridaspur Paradip Railway Company Limited suffered setback due to law and order problem in the project area. While the land for 69 kms length out of 82 kms is in possession of Railways, the villagers are not permitting construction activity to commence, particularly in Kendrapara district, as they are demanding higher compensation. The matter has been vigorously pursued with the Government of Orissa. However, so far it has not wielded any positive result. The contractor has also not able to mobilize resources to execute the work in the alignment, which is free from trouble.

RVNL completed the project development of rail connectivity to Rewas & Dighi Ports and recommended execution of these projects by creation of project specific SPVs. The proposals are presently under consideration of Railway Board.

3. PROJECT EXECUTION:

RVNL is presently having 56 projects broadly classified under two heads as under:

Strengthening of Golden Quadrilateral and Diagonals -29projects

Provision of Port connectivity and corridorstohinterland - 27projects

a. Physical Size Of the Projects :

The above 56 projects constitute following 4 categories of works as shown below:

The locations of these projects have been distributed throughout the country and hence the Project Implementation Units (PIUs) have been established not only at the four major metropolitans viz, New Delhi , Mumbai , Kolkata and Chennai but also in the state capitals / important cities viz, Secunderabad , Bhubaneshwar, Bilaspur, Bhopal & Jaipur. In the financial year 2008-09, 4 more PIUs at Hubli, Pune ,Vadodra & Raipur have been established for the better managing of projects in these areas.

During the financial year, 69 Km of Doubling, 332 Km of Gauge Conversion, 21 Km of New Line & 102 Km of Railway Electrification (53 kms of RE projects and 49 kms of other projects which had RE element) have been completed. RVNL has till now completed 419 Kms of doubling, 1230 Kms of gauge conversion 176 Kms of new lines and and 1060 Kms. of Railway Electrification. Thus as on 31.03.09, 2885 km out of total length of 7112 km of 56 projects assigned to RVNL , have been completed.

The status of 56 projects is as under: Projects completed upto March 31st 2009 --` 16 Projects under implementation -- 35

Projects under sanction and development -- 5

b. Projects completed during 2008-09-

The following projects/sections have been completed during 2008-09:-

S. Project Name Length No. Completed (Kms)

1. Tiruvallur-Arakkonam 3rd Line 26 Doubling

2. Part sectionof Gooty-Renigunta 43 Patch Doubling

3. Rewari-Phulera Section of Ajmer - 215 Phulera - Ringus - Rewari Gauge Conversion.

4. Part section of Bhildi-Samdari 70 Gauge Conversion

5. Villupuram –Cuddalore section of 47 Thanjavur - Villupuram Gauge Conversion

6. Venkatchalam - Krishnapattnam 21 section of Obulavaripalle- Krishnapattnam New Line

7. Part section of Renigunta- 21 Guntakal - RE

8. Venkatchalam - Krishnapattnam 21 section of Obulavaripalle - Krishnapattnam RE

9. Jakhapura-Tomka - RE Material 32 Modification of Kharagpur - Bhubaneswar - RE Project

10. Tiruvallur-Arakonam RE 28

c. Projects under implementation

S. Name of the project No.

1. Khurda Road - Barang 3rd Line Doubling

2. Cuttack - Barang Doubling

3. Rajatgarh - Barang Doubling

4. Haridaspur - Paradip New Line

5. New Delhi-Tilak Bridge 5th & 6th Line Doubling

6. Palwal - Bhuteswar 3rd Line Doubling

7. Aligarh - Ghaziabad 3rd Line Doubling

8. Balance Section of Bhildi - Samdari Gauge Conversion

9. Ajmer - Phulera section of Ajmer - Phulera- Ringus - Rewari Gauge Conversion

10. Balance section ofThanjavur- Villupuram Gauge Conversion (remaining section 54 kms)

11. Attipattu - Korukkupet 3rd Line Doubling

12. Vallaparpadm - Idapally New Line

13. Balance Section of Gooty - Renigunta Patch Doubling

14. Obulavaripalle - Venkatchalam Section of Obulavaripalle - Krishnapattnam New Line

15. Balance section of Hospet - Guntakal Doubling (1.5 km)

16. Raichur - Guntakal Doubling

17. Tikiapara - Santragachi Doubling

18. Bilaspur - Urkura 3rd Line Doubling

19. Balance Section of Renigunta - Guntakal - RE 20.* Tomka -Banaspani - RE

21. Bharuch - Samni - Dahej Gauge Conversion

22. Angul - Sukinda New Line

23. Salka Road - Annuppur Doubling

24. Sambalpur - Titlagarh Doubling

25. Raipur - Titlagarh - Doubling

26. Panskura - Kharagpur 3rd Line Doubling

27. Bhopal - Bina 3rd Line Doubling

28.* Jakhpura- Haridaspur 3rd Line Doubling

29. Dalli - Rajhara - Raoghat New Line

30. Goelkera - Manoharpur 3rd Line Doubling

31. Daund - Gulbarga Doubling

32. Pune - Guntakal Rly Elect

33. Banaspani - Jakhpura - Doubling

34. Tiruvallur-Arakkonam 4th Line

35. Buramara-Chakulia -NewLine with Upgrading Of Rupsa - Buramara

36. Villupuram - Dindigul - Doubling

37. Jhakhapura - Tomka - Daitri - RE

* S.No. 20 & 28 are material modifications of Daitari - Banspani New Line project, hence not counted as separate project.

d. Projects under sanction and development

1. Hospet - Tinaighat - Doubling

2. Panskura - Haldia Ph II Doubling

3. Surat - Hajira New Line

4. Digi Port

5. Rewas Port

e. Projects handed over to Railways:

The following projects were handed over to Zonal Railways during 2008-09:

1. 2nd Bridge over river Mahanadi

2. Rewari -Phulera Section of Ajmer - Phulera - Ringus - Rewari Gauge Conversion.

f. ADB funded projects

For the first time in Indian Railways, RVNL is implementing seven projects through ADB loan. Further, five projects are under development stage which has been decided to be funded by ADB 2nd phase loan. The funding by ADB requires compliance of various loan covenants on resettlement and rehabilitation of project affected persons, procurement of works and stores following international competitive bidding and implementation of plans formitigating of social and environmental impacts. RVNL has utilized disbursement of Rs.241 cr. during the calendar year 2008 and the target for 2009 is Rs. 378 cr.

g. Contracts awarded during 2008-09 :-

The following contracts were awarded by the Company during the year under review:

Design, supply, erection, testing and commissioning of 25 KV single phase traction over head equipment, switching stations and other associated works between Nandalur (Excl) and Kondapuram (Incl) stations and supply, installation testing and commissioning of signalling and telecommunication equipments with electronic interlocking at seven stations in connection with railway electrification of Nandalur - Guntakal section (Rs.103.47 Cr.)

Construction of Roadbed, major and minor bridges and track linking (excluding supply of rails, sleepers, turnout sleepers and web switches and special sleepers)S&T, OHE &

General electrical work in connection with 3rd line between Jakhpura-Haridaspur(25.0) Km) on Khurda Road Division of East Coast railway in Orissa state, India. (Rs.96.93 cr.)

Design, supply, erection testing and commissioning of 25 KV single phase traction over head equipment, switching stations and other associated works for railway electrification between Kondapuram (Excl) - Guntakal (Incl) section Guntakal Division of South Central Rly (Rs.101.18 cr.)

Construction of Br No.49 over river Brahmani between Jhakapura- Haridaspur(Rs.92.12cr.).

Construction of roadbed, major and minor brides...Bharuch-Samni-Dahej section in the state of Gujarat. (Rs.174.89 cr.)

S&T work in connection with Route setting panel interlocking at 5 stations from Venkatachalam - Krishnapatnam (Rs.10.82 cr.) Traction sub station (4 Nos) of Nandalur- Guntakal section (Rs.28.2 cr.)

Design, supply, erection, testing and commissioning of 132/25 KV,2x21.6 MVA traction sub station, feeding post, shunt capacitor bank and with other associated works at Keonjhar & Tomka along with 9 switching stations in Tomka-Jaroli section under Khurda Road Division of East Coast Railway, in the state of Orissa (Rs.14.64 cr.)

Proposed improvements to LCs, earthwork in filling for Platforms and bridge back filing, painting of PSC girders, paving of goods platforms and other works between Parangipettai & Sirkazhi. (Rs.10.33 cr.)

h. Important contracts awarded after the closure of Financial year

After the closure of the Financial year and as on date of report, following contracts have been awarded:-

Construction of roadbed, major and minor bridges…Panskura - Kharagpur 3rd line.(Rs.186.12 cr.)

i. Technical Novelties:

Constructed longest subway under the Railway tracks in India - 87m long subway under 12 running tracks by Box Pushing Technology in Chennai.

Launching girderfor launching 20 m U girder and 40 m I girder for rail connectivity to International Container Transhipment Terminal, Vallarpadam;

RVNL is constructing 4.6 Km long bridge for rail connectivity to International Container Transhipment Terminal, Vallarpadam. This involved launching of 20 Nos of 20 m pre- cast U girders and 200 Nos of 40 m pre- cast I girders on elevated structure with maximum of 4º curve. This is a unique achievement as generally in railway bridges, launching of PSC girders has not been done on curves. In view of the above, it was necessary to look for launching girder, which is capable of launching pre-cast PSC girders on curve, as the conventional launching girders are capable of launching only on straight or on very flat curves. In view of the above, detailed consultations were held with contractor, M/s.Afcons Infrastructure Ltd., Mumbai. Consequently, global enquiry was made by Afcons for the availability of such a launching girder, which is capable of negotiating on 4º curve and launching both 20 m U girder (6.92 m width)and 40 m I girder (height 2.7 m). Based on the enquiry and response, M/s. NRS ASIA(M) SDN BHD, Malaysia was finalised by Afcons for manufacture of launching girder, which was effective in handling both types of girders besides negotiating on curve. The launching girder was manufactured in China and the components were shipped from China to Cochin and the assembling was done at the work site. The launching girder was not only commissioned successfully but also a very good progress was achieved. As of now, 20 U girders and 150 I girders have already been launched. A launching progress of 1 girder/day is achieved by this launching girder.

Launching of 30.5 m PSC girders: RVNL has completed 122 km GC between Villupuram and Mayiladuturai. This line is in delta region and has got large number of long span bridges. The longest span consists of 21 spans x 30.4 m PSC girder. Launching of 325 tonne 30.5 m PSC girder was done with specially designed launching girders with underslung girders and portable cranes. The whole operation of launching was completed within a period of 5 months, launching 4 girders per month. The girder launching went in a smooth manner and not even a single disruption or mishap occurred during the execution.

Casting of 30.5 m girder in single casting: Casting of above mentioned 30.5 PSC girders was done in a single cast consisting of bottom slabs, side walls and deckslabs. The shuttering arrangements were designed with lot of innovation so that full girder can be cast in one go. This improved the quality of the concrete by -

a) Reduction in joints

b) Avoiding cold construction joints.

This will help i n better durability of the structure and consequently increased longevity.

4. PERSONNEL DEVELOPMENT:

The main focus of the HR Department is to have a lean but effective organisation. This has been made possible by carefully selecting employees from diverse background, talents and experience, retaining and developing them to achieve the stiff targets on time. At present, the company has 279 employees on its roll including reemployed personnel. The total number of female employees is 17. Since majority of the manpower requirement has to come from Railways, RVNL has been experiencing difficulties in getting adequate number of technically qualified personnel.

To tide over this, the company has started inducting technically qualified candidates from market on contract. These freshers are also given training in Railway Institutes before putting them on job. The company has recently formulated its Absorption Policy to induct its working force in RVNL on permanent basis. This will also make RVNL less dependent upon the Ministry of Railways for manpower. A Recruitment Policy for RVNL is also under formulation and it is expected that RVNL will start recruiting its manpower on regular basis from open market in 2009.

RVNL believes in having cordial Industrial Relations with its employees and strives to nurture them by offering several welfare measures. A number of good schemes like, Welfare and Recreation Club, Insurance and Gratuity Schemes etc are being framed for its regular employees. The Company has also organized welfare and recreational programmes involving the families and children of the employees. The facility of medical consultations of Allopathic, Homeopathic and Ayurvedic specialists is made available in the office premises for the employees. During the year, RVNL has introduced Productivity Linked Incentive Scheme and employees were paid 12.5% incentive.

The Company has been able to implement the recommendations of 6th Pay Commission without any adverse effect on its profitability and perceives no difficulty in implementation of the recommendations of 2nd Pay Revision Committee of PSEs.

Particulars of Employees under Section 217 (2A) of Companies Act, 1956

None of the employees of the Company has drawn remuneration exceeding the limits laid down under the provisions of section 217(2A) of the Companies Act read with Companies (Particulars of Employees) Rules, 1975 as amended from time to time.

5. COMPLIANCES

a. Vigilance

The Vigilance organization in RVNL consists of a Part time CVO, one Manager and one Assistant Manager reporting to CVO. The major thrust of Vigilance Department in RVNL is preventive intervention through educating the officers and employees about procedures and guidelines.

During the Vigilance Awareness Week, 2008 (03.11.08 to 07.11.08), a pledge taking ceremony chaired by Managing Director/RVNL was held on 03/11/2008, during which the pledge was administered to all the officers/staff of Rail Vikas Nigam Limited. Banners/posters relating to vigilance awareness were displayed in the RVNLs office.

A lecture cum interactive session on “Contracts management” was delivered by Smt P.Varma, Consultant/Central Vigilance Commission on 07.11.2008. Shri A.K.Upadhyay, Adviser/Vigilance/ Railway Board was the distinguished speaker on the occasion. This session was attended by Managing Director , Functional Directors and all officers of RVNL. The lecture cum interactive session was informative and was highly appreciated by all.

RVNLs Vigilance Department has brought out the third Vigilance Bulletin during the Vigilance Awareness Week. This was released by Shri A.K.Upadhyay, Adviser/Vigilance/Railway Board during a lecture cum interactive session held on 07/11/2008. The Vigilance Awareness Week has been celebrated successfully by RVNL.

b. Memorandum of Understanding

The Company secured “Good” rating by Department of Public Enterprises for the year 2007- 08 under the Memorandum of Understanding between RVNL and Ministry of Railways on the basis of its achievements of the committed targets. It being the first year for signing of MoU and evaluation of performance on this basis, the parameters could not be assessed more realistically.

As a result of consistent improvement in achievement of physical and financial targets by the Company since last year, RVNL, as per internal assessment, has evaluated “Very Good “ rating for the year 2008-09, in accordance with Department of Public Enterprises guidelines and on the basis of its performance for the committed targets. The Company has forwarded the ratings to Department of Public Enterprises for approval.

During theyear,the CompanysignedaMemorandum of Understanding (MoU) with Ministry of Railways committing its physical and financial targets for the year2009-10forsubmissiontoDepartmentofPublic Enterprises. RVNL has committed to achieve 256 kms of Gauge Conversion, 219 kms of Doubling, 115 kms of Railway Electrification and 8 kms of New Lineworks.Theachievementsofthesetargetswould entail a financial expenditure of around Rs. 1571 crore.

c. Right to Information Act, 2005

Right to Information Act 2005 mandates timely response to citizen requests for government information. It is an initiative taken by Department of Personnel and Training, Ministry of Personnel, Public Grievances and Pensions to provide a avenue to the citizens for quick search of information on the details of first Appellate Authorities, Public Information Officers etc. amongst others, besides access to RTI related information / disclosures published on the website by various PublicAuthorities under the Government of India as well as the State Governments.

Rail Vikas Nigam limited is a wholly owned Government company under Ministry of Railways. As per the provisions of Right to Information Act, 2005 the Company makes all efforts to follow the directives so issued under the Act. RVNL, has nominated a Appellate Authority/Officer, Central Public Information Officer and one Project level Assistant Public Information Officer for each of the Project Implementing Unit of the Company. The details of the officers nominated under theAct have been uploaded on the website of RVNL to facilitate

information about the affairs of the Company.

d. MCA 21

This e-Governance initiative was started by Ministry of Corporate Affairs (MCA) in the year 2006. The Project offers availability of all MCA services including filing of documents, registration of companies and public access to corporate information through the portal of Ministry of Corporate Affairs. These services can be accessed/ availed from anywhere, at any time that best suits the corporate entities, professionals and the public at large. Under the flagship of MCA 21, RVNL has been duly filing all its forms and returns online since September, 2006. Director Identification Number (DIN) of all the Directors are in place and Digital Signatures of Managing Director, Director/Operations, Director/Finance and Company Secretary have been obtained.

e. Rajbhasha (Official Language)

For effective implementation of the directives of Govt. of India for use of Raj Bhasha in the Govt. offices, a concerted effort is being continuously made in RVNL. The Raj Bhasha Wing in the HR department of RVNL is working under the guidance of Mukhya Raj Bhasha Adhikari and Upmukhya Raj Bhasha Adhikari, who are maintaining constant coordination with Railway Board Raj Bhasha Directorate .

During the year 2008-09, Director of the Raj Bhasha Directorate of Railway Board visited the corporate office of RVNL and expressed his satisfaction on the progressive use of Raj Bhasha in the day-to- day work in the corporate office as also in the offices of Project Implementation Units.

Towards furtherance of progressive use of Raj Bhasha, during the year, as many as two Workshops and four meetings of the Raj Bhasha implementation Committee of RVNL with the representatives of Railway Board Raj Bhasha Directorate have been held. Beside this, Essay competition , debates, notings and drafting competition and Quiz competition were held on the occasion of Hindi Divas on 14th September, 2008 and prizes were distributed among successful participants . For encouraging progressive use of Hindi, 10 officers in the corporate office who were drafting notes in Hindi were selected and given cash awards. Since this is a continuous effort, Secretarial staff of RVNL are regularly deputed to Hindi Computer application classes organized by the Raj Bhasha Vibhag, Grah Mantralaya .

The company has also set up a Reading room- cum-library with fine collection of books in Hindi and RVNL staff is being benefited from these books, newspapers and periodicals. The website of the Company has the Hindi version uploaded also.

f. Industrial Relations

During the year, Industrial relations remained harmonious and cordial.

g. Presidential Directive

No Presidential Directive has been issued to the Company during 2008-09.

h. Particulars Relating to Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo etc.

(i) Conservation of Energy and Technology Absorption

The Company is conscious of the need to keep all the cost elements at the barest minimum level including the energy cost. It is also aware of the responsibility to conserve energy in an overall energy shortage situation. At present, main area of energy consumption in the consumption of electric energy in the office premises of the Company. Energy conservation is being achieved by designing the office lay out in the most energy-friendly manner. The office building is having open spaces and windows on all sides and full use has been made to utilize sunlight for illumination of office accommodation, rooms and chambers. Systems are also in place to conserve electricity during and after hours.

(ii) Foreign Exchange Earnings and Outgo

During the financial year 2008-09, the Company spent Rs. 6.46 lakhs in foreign currency towards foreign travel of RVNL officials for study visits etc . The Company also spent Rs. 18.50 lakhs in foreign currency towards consultancy services for monitoring of sub-projects implementation of ADB funded projects (Package-I, sub projects) 2nd Bridge over river Mahanadi on Cuttack- Neragunadi section of East Coast Railway Main Line. The Company though did not earn any foreign exchange.

6. DIRECTORS RESPONSIBILITY STATEMENT

The Board of Directors of the Company in pursuance of section 217 (2AA) of the Companies Act, 1956 as amended hereby confirms:

I. that in the preparation of the annual accounts, all the applicable accounting standards alongwith proper explanation have been followed and there has been no material departure.

II. that such accounting policies were selected and applied consistently and such judgments and estimates were made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company and Profit & Loss of the Company for the year ended on 31st March 2009.

III. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

IV. that the Annual Accounts have been prepared on a going concern basis.

7. BOARD OF DIRECTORS

During April 2008 to March 2009 , four meetings of the Board of Directors were held with one meeting each in quarter ending June 2008, September 2008, December 2008 and in quarter ending March 2009.

Mr. Rakesh Chopra, Member Engineering /Railway Board has taken over as Chairman part-time (official) of the Company w.e.f. 05.06.2009. Mrs. Gita Mishra assumed the charge of Director (Personnel) of RVNL on 13.10.2008(FN). Mr. M. S. Khan, Additional Member (Budget)/ Railway Board was nominated as Part-time official Director as a special case on the Board of the Company w.e.f 23.01.2009. Mr. R.P. Gupta, Adviser (Works), Railway Board was nominated as part-time (official) Director on the Board of RVNL w.e.f 02.02.2009.

Mr. S. K. Vij, ceased to be Chairman part-time (official) on the Board of RVNL w.e.f 31.03.2009 due to his superannuation from Ministry of Railways. Mr. S. K. Malik, Adviser (Works), Railway Board ceased to be a part-time official Director on the Board of Company w.e.f 02.02.2009. Mr. S.P. Vatsa , Additional Member(Works) ceased to be a part-time official Director on the Board of RVNL w.e.f 22.07.2008.

Mr. S.Murali, Mr. D.P. Tripathi, Dr. V. K. Koshy, Dr. T.T. RamMohan, ceased to be Directors on the Board of RVNL w.e.f on 3rd October, 2008, consequent upon completion of their tenure as part-time non-official (Independent) Directors, The process of appointment of the part-time non-official (Independent) Directors is under process and the vacant posts are expected to be filled up shortly.

The Company would like to place on record deep appreciation and gratitude for all the Directors who ceased to hold office during the year for their valuable contribution in the growth of the Company. The Company compliments them for their support, knowledge and input provided during their tenure of directorship in RVNL.

On the date of report, the strength of the Company is eight Directors comprising of five functional directors including Managing Director and three part-time official directors including part-time (official) Chairman.

The following Directors are holding office as on the date of the report:-

1. Mr.Rakesh Chopra -- From 05.06.2009 Member Engineering/ onwards Railway Board & Chairman/RVNL (Part-time official)

2. Mr.D.C.Mitra -- From 05.07.2006 (FN) Managing Director/RVNL onwards

3. Mr. Ranjan K. Jain -- From 30.12.2004 (AN) Director (Operations)/RVNL onwards

4. Mr. Harish Chandra, -- From 11.03.2005 (AN) Director (Finance)/RVNL onwards

5. Mr. Satish Agnihotri, -- From 04.07.2007 (FN) Director(Projects)/RVNL onwards

6. Mrs. Gita Mishra -- From 13.10.2008 (FN) Director (Personnel) onwards

7. Mr.M.S.Khan -- From 23.01.2009 AM(Budget)/ onwards Railway Board & Director/RVNL (Part-time official)

8. Mr.R.P.Gupta -- From 02.02.2009 Adviser(Works)/ onwards Railway Board & Director/RVNL (Part-time official)

8. AUDITORS

The Comptroller & Auditor General of India has appointed M/s Bhushan Bensal Jain Associates., Chartered Accountants as Statutory Auditors of the Company for the year ended 31st March, 2009. The Board would like to thank them for the valuable support and guidance during the audit of accounts under review.

9. COMMENTS OF COMPTROLLER & AUDITOR GENERAL (C&AG) OF INDIA

The Comptroller & Auditor General of India has undertaken supplementary audit on accounts of the Company for the year ended 31st March, 2009 under Section 619(4) of the Companies Act, 1956. The comments of the C& AG on the Annual Accounts of the Company for the year ended 31st March, 2009 shall also form part of this report.

10. ACKNOWLEDGEMENTS

We take this opportunity to gratefully acknowledge the cooperation, guidance and support received from Ministry of Railways (MoR), Ministry of Finance, Department of Public Enterprises ,various banks,Asian Development Bank, the Zonal Railways, RITES, IRCON and our equity partners in Joint Venture Special Purpose Vehicles.

The Directors would like to express their thanks for the devotion, commitment and dedication of every employee of the Company because of which your company could face the new challenges and opportunities and create a niche for itself.

The Directors also place on record their appreciation for the officials of Comptroller & Auditor General of India for their guidance during the year under review.

Last but not the least , the Directors would like to express their deep appreciation and gratitude towards all its predecessors, for their invaluable contribution to the growth and development of the Company.

For and on behalf of the Board of Directors

(D.C.Mitra) (Harish Chandra)

Managing Director Director/Finance

New Delhi Dt: 19.08.2009

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Mar 31, 2008

The Directors of your company feel great pleasure to present the Fifth Annual Report of the Company along with Audited Annual accounts for the year 2007-08. It contains Report on Corporate Governance” (Annexure-A) and Management Discussion and Analysis Report (Annexure-B) in accordance with the guidelines on Corporate Governance laid down by Department of Public Enterprises in June 2007.

It has also an Addendum to the Directors’ Report containing Management replies to the observations made by auditors’ in their report.

RVNL was created with twin objectives of raising non-budgetary resources for rail capacity projects and implement them on fast track basis. The Company has gone far ahead and has created a niche for itself by achieving various milestones in very short span of time. It has grown out of infancy and has established itself as a major developer of fixed rail infrastructure projects. The Company has caught attention of one and all by executing and commissioning some of the most challenging works of Railways assigned to it, in time bound manner with the use of most innovative technology.

One of these projects is Ajmer- Phulera -Rewari, which was sanctioned in August 2005 and is expected to be commissioned in August 2008 from Rewari to Phulera (220 kms). Similarly, the second bridge over river Mahanadi (2.1 kms) was commissioned in nearly three years.

The growth of RVNL is reflected from the fact that the Company has continuous inflow of the projects, not only from Railways but from private sector as well as on nomination basis. RVNL also established new norms of efficiency by maintaining low overheads cost.

The detailed Directors’ Report is produced below:

1. FINANCIAL PERFORMANCE

The Company has made a change in the methodology adopted for presentation of Accounts in order to reflect a clearer picture of the operations of the Company in the field of development of rail infrastructure. The turnover along with direct expenditure of the Company from project execution has been reflected on the face of the Profit and Loss account. Keeping in line with the instructions of the Ministry of Railways on the transfer of completed projects to Zonal Railways and reclassification of capital work-in-progress from Fixed Assets to Current assets, the interest earned from Bank Deposits has now been shown separately in the Profit & Loss Account in place of adjusting the same against the work-in-progress.

The presentation of Accounts for 2006-07 has also been modified to make them comparable with the current year.

a. Financial Highlights

(Figure in crore)

2006-07 2007-08

Net Worth 1676.00 2119.09 Project Expenditure 1236.24 1618.73 Income from project execution 3.59 19.67 Profit during the year 15.25 39.34 EPS (Figure in rupees) 0.12 0.21

b. Turnover

The financial results of the year under review indicate a significant improvement in the overall performance of RVNL. The turnover of the Company from Project Execution has continued on its path of growth and has reached a figure of Rs.1618.73 crore registering an increase of 30.94% over the previous year. This includes expenditure incurred on SPV projects and on behalf of other authorities like Cochin Port Trust under the Ministry of Shipping.

The expenditure on project monitoring and supervision (D&G charges) as a percentage of total expenses in 2007-08 has been restricted to 3.85% as against 6.43% to over 13% for different departments in the estimates of Railway construction projects.

c. Profit

The increase in gross profit during the year from Rs.18.20 to Rs.46.78 crore is a major achievement and reassures us about the future of the organization. The amount of profit before tax has increased to Rs.39.34 crore in the year 2007-08 from Rs.15.25 crore in 2006-07.

As a result there has been an increase of 75% in the earning per share (EPS) from Rs.0.12 per share in 2006-07 to Rs.0.21 per share in 2007-08.

d. Dividend

With the increase in accumulated reserves, the Directors are happy to recommend a dividend amounting to Rs. 5 crore on equity, for the consideration by the shareholders.

The amount of profit taken to Reserve and Surplus during 2008-09 after taking into account the proposed dividend & provision for dividend distribution tax is Rs.22.58 crore against Rs.11.27 crore in the previous year. The accumulated surplus of RVNL at the end of the year 2008 stands at Rs.35.08 crore. For the financial year 2007-08, out of the profits, the Company has proposed to transfer Rs. 5 crores to General Reserves.

e. Net Worth

The Net Worth of the company has also registered an increase from Rs.1676 crore to Rs.2119.09 crore in the current year.

f. Capital Structure

The Authorized Share Capital of the Company stands at Rs.3000 crore as on 31st March, 2008. During the year the paid-up share capital of the company increased from Rs.1150.02 crore to Rs.2015.02 crore. This is due to the increase in equity contribution from the Ministry of Railways, Government of India who holds the entire paid up share capital of the Company.

g. Financial Resource Mobilization

In addition to the infusion of equity by the Ministry of Railways, RVNL has also obtained funds through loan for project execution from the Ministry of Railways, borrowings from IRFC, mobilization of private funds through Special Purpose Vehicles created for specific projects under PPP initiative. While borrowings from IRFC have increased by Rs.240 crore from Rs.968 crore to Rs.1208 crore, the cumulative amount received from MOR for project execution has increased from Rs.472 crore to Rs.1167 crore. The rate of interest on the IRFC borrowings has been advised at 9.99% by IRFC for the financial year 2007-08. The Ministry of Railways has undertaken to bear the re-payment liability of principal and cost of borrowing (interest & processing charges) on the entire sum of the borrowed funds.

The Joint Venture SPVs of RVNL, namely Haridaspur Paradip Railway Company Limited and Krishnapatnam Railway Company Ltd. have been able to raise equity of Rs.350 crore for execution of the projects as on date of report, which includes Rs. 194.3 crore of non-RVNL equity. Kutch Railway Company Limited, the first Joint Venture SPV of RVNL has already mobilized financial resources to the tune of Rs. 500 crore i.e Rs. 200 crore as equity and Rs. 300 as debt. Project Advance of Rs. 105 crore has also been received from Cochin Port Trust for execution of their project.

h. Bank Interest

With effective cash management, the income from Bank Interest from short term deposits of surplus funds available with RVNL increased from Rs. 11.66 crore to Rs.19.67 crore.

i. Payment of Direct Tax Liability

Due to the increase in the level of activity of RVNL and the execution of projects on behalf of parties other than the Ministry of Railways, during the year 2007- 08 RVNL has paid Rs.11.08 crore as direct taxes. In comparison, the total expenditure on direct taxes in the previous year was Rs. 3.98 crore.

j. Reimbursement against ADB Loan

During the year 2007, the process of raising claims for reimbursement against ADB funded projects was substantially streamlined and claims amounting to over US$ 50 million (Rs. 205 crore) were accepted by ADB. The ADB has expressed satisfaction with the project planning, execution systems developed by RVNL and streamlining of the reimbursement procedure and is now considering extending a second loan for improvement of rail infrastructure in the country.

2. PROJECT DEVELOPMENT & PUBLIC PRIVATE PARTNERSHIP

a. Parliamentary Committee review

RVNL has been successful in establishing confidence among various stakeholders about the leading role being played by it in creation of rail capacity and removal of capacity bottlenecks in the country. In recognition of the same, the Consultative Committee of Members of Parliament for Ministry of Railways reviewed the role and performance of Rail Vikas Nigam Limited in a special meeting held on 9th January, 2008 at Udaipur. The meeting was chaired by the Hon’ble Minister for Railways, Shri Lalu Prasad Yadav. The Consultative Committee highly appreciated the performance and the technological innovations adopted by RVNL. There was a general consensus among Members of the Committee that more projects should be assigned to RVNL.

b. Projects transferred

During the year, in addition to already sanctioned projects, Ministry of Railways decided to transfer nine more projects as per details given below, involving capital expenditure of Rs.5600 Cr and laying of new line and doubling of 1138 km length.

S. Name of Project Type of Project N.

1. Sambalpur-Titlagarh Doubling 2. Raipur-Titlagarh Doubling 3. Hospet-Vasco Doubling 4. Goelkera-Manoharpur 3rd Line Doubling 5. Banaspani-Jakhpura Doubling 6. Jakhpura-Haridaspur 3rd Line 7. Dalli-Rajhara-Rawghat New Line 8. Dighi Port Port connectivity 9. Rewas Port Port connectivity

Length (km) Project Cost (Rs. in Cr.)

182 608.00 203 614.35 345 1900.00 40 283.00 180 836.00 25 244.00 95 304.00 41.6 360.09 26.1 370.03

The Company has been able to won general appreciation from all quarters. It is proven by the fact that wherever the project implementation is considered difficult, the railways are recommending their implementation through RVNL.

c. Project Development and Bankability Studies

RVNL successfully completed the process of project development and examination of bankability of all the projects in hand. These include rail connectivity to Dighi Port, rail connectivity to Rewas Port, doubling of Banspani to Jakhpura. On the basis of bankability studies conducted by RVNL, Ministry of Railways approved Daund-Gulbarga Doubling, Pune-Guntakal Railway Electrification and Banspani-Jakhpura doubling projects. Based on the report prepared by RVNL, Railway Board also decided to proceed with doubling of Hospet to Vasco, partly through ADB funding and partly through PPP route.

d. New Projects and Assignments

Railway Board has assigned a number of new projects and additional activities to RVNL. Gauge conversion of Samni-Jambusar-Vishwamitri line for serving a new port on the West Coast near Dahej through PPP route was assigned for initial examination. Railway Board also assigned prestigious Dedicated Freight Corridor studies for the four new corridors, namely, North- South (Delhi-Chennai), East-West (Kolkata-Mumbai), East Coast (Kharagpur-Vijaywada) & Southern (Chennai-Vasco). RVNL delivered these studies within the target date through global consultancy firms; Wilbur Smith Associates and Deloitte. The quality of these studies has been highly appreciated by the Ministry of Railways. Railway Board had also assigned the task of development of a policy paper and bidding document for award of PPP Concessions for development of an Agri Retail Logistics Chain on surplus railway land. RVNL issued an Expression of Interest seeking information from the prospective bidders on various parameters to facilitate formulation of an appropriate policy and bidding document. The same has been forwarded to Railway Board for a decision on various policy related issues.

e. Multilateral Funding

RVNL has successfully implemented projects using the first loan of ADB. RVNL has internalized the ADB procurement procedures, R&R policy, Environmental Mitigation Plans, Project Monitoring Methods and Project Review Mechanism. For the first time on Indian Railways, Rehabilitation and Resettlement of Project Affected Persons has been successfully carried out following ADB’s policy of involuntary resettlement by appointing NGOs. The seven projects under implementation through ADB funding achieved various milestones in their journey to completion. The 2nd bridge over river Mahanadi was commissioned in June, 2008 and opened for traffic in July, 2008. Thiruvallur-Arakkonam 3rd line project is planned for commissioning by end of August, 2008. Part of Gooty- Pullampet doubling project and Bhatapara-Urkura 3rd line project are in advance stage of commissioning. RVNL achieved the target of disbursement of ADB loan to the tune of US $ 50 million in the calendar year 2007. RVNL hopes to achieve disbursement to the tune of US $ 80 million in the calendar year 2008.

Buoyed by the success of utilization of multilateral funds for fixed infrastructure projects for the first time, Government has proceeded with the process of sanction of the second loan from ADB. RVNL has been decided to be Implementation Agency for the projects being funded under the second loan.

ADB has appointed a consultant under Technical Assistance for project preparatory studies. RVNL has provided office accommodation and other equipments to the team of consultants in the RVNL’s office. RVNL has also commenced the advance action based on ADB’s Project Preparedness Checklist, for procurement of civil contracts for these projects by awarding the contracts for Final Location Survey, preparation of land plans, preparation of detailed estimates and bidding documents etc.

f. Joint Venture Special Purpose Vehicles

The first operational SPV of RVNL, Kutch Railway Company Limited has shown outstanding performance by transporting 15 MT of traffic in the first year of operation of the full length of the project. The actual performance is several notches higher than the projections. Haridaspur Paradip Railway Company Limited, Krishnapatnam Railway Company Limited & Bharuch Dahej Railway Company Limited, the other SPVs set up by RVNL for port connectivity projects became fully operational during the year.

The Concession Agreements for these SPVs were approved by Ministry of Railways and were signed. The Traffic Guarantee Agreement between East Coast Railway, Haridaspur Paradip Railway Company Limited and the users of the line was approved by Ministry of Railways and was signed. Equity contribution was made by the shareholders. Construction activity commenced on Haridaspur- Paradip line and Obulavaripalle-Krishnapatnam line and as a result Venkatachalam to Krishnapatnam new line portion, a length of 23 km is expected to be commissioned by September, 2008. This will provide vital rail connectivity to the newly developed port of Krishnapatnam.

Hon’ble Minister for Railways laid the foundation stone for Bharuch-Dahej Gauge Conversion project through SPV on 29.06.2008. This project is being planned to be commissioned by December, 2009. It will not only provide vital rail connectivity to the port under construction at Dahej but will also serve host of industries in Dahej area and special economic zone. To facilitate movement of traffic through rail mode of transportation, the SPV in coordination with Gujarat Industrial Development Corporation will also develop a multimodal logistics park at Dahej.

Ministry of Railways also approved the Concession Agreement for implementation of Angul-Sukinda new line project through SPV. RVNL has further developed port connectivity projects of Rewas & Dighi Ports through SPV route. Expression of Interest for equity partnership in these SPVs has been invited. It is anticipated that these three SPVs will be formed during the financial year 2008-09.

3. PROJECT EXECUTION:

RVNL is presently having 55 projects broadly classified under two heads as under:

Strengthening of Golden Quadrilateral and Diagonals - 29 projects Provision of Port connectivity and corridors to hinterland - 26 projects

a. Physical Size of the Projects :

The above 55 projects constitute following 4 categories of works as shown below in pie chart:

The locations of these projects have been distributed throughout the country and hence the Project Implementation Units (PIUs) have been established not only at the four major metropolitans viz. New Delhi , Mumbai , Kolkata and Chennai but also in the state capitals / important cities viz. Secunderabad , Bhubaneshwar, Bilaspur, Bhopal and Jaipur.

During the financial year, 74.28 Km of Doubling, 103 Km of Gauge Conversion & 53 Km of Railway Electrification, have been completed. RVNL has till now completed 155 Kms. of new lines, 898 Kms. of gauge conversion 350 Kms. of doubling and 1007 Kms. of Railway Electrification, Thus as on 31.03.08, approx 36% of the total length (6686 km) of 55 projects assigned to RVNL, have been completed.

The status of 55 projects is as under:

Projects completed upto March 31st 2008 -- 16 Projects under implementation -- 31 Projects under sanction -- 8

b. Projects completed during 2007-08 :-

The following projects have been completed during 2007-08:-

S. Project Name Length No. Completed (Kms)

1. 2nd Bridge on River Mahanadi 3 2. Pakni-Solapur Doubling 16.28 3. Pakni Mohol Doubling 17 4. Part Section of Thanjavur-Villupuram GC 20 5. Diva-Kalyan 5th and 6th Line Doubling 11 6. Part section of Hospet-Guntakal Doubling 15 7. Part section of Attipattu-Korukkepet 3rd Line 12 Doubling 8. Balance section of Cuddalore-Salem GC 83 9. Balance Sec. of Kharagpur - Bhubaneshwar 53 RE

c. Projects under implementation

S. Name of the project No.

1. Khurda Road - Barang 3rd Line Doubling 2. Cuttack - Barang Doubling 3. Rajatgarh - Barang Doubling 4. Haridaspur - Paradip New Line 5. New Delhi - Tilak Bridge 5th & 6th Line Doubling 6. Palwal - Bhuteswar 3rd Line Doubling 7. Aligarh - Ghaziabad 3rd Line Doubling 8. Bhildi - Samdari Gauge Conversion 9. Ajmer - Phulera - Ringus - Rewari Gauge Conversion 10. Balance section of Thanjavur - Villupuram Gauge Conversion (remaining section of 102 kms) 11. Pattabiram - Triuvallur 4th Line & Tiruvallur - Arakkonam 3rd Line Doubling 12. Attipattu - Korukkupet 3rd Line Doubling 13. Vallarpadam - Idapally New Line 14. Gooty - Renigunta Patch Doubling 15. Obulavaripalle - Krishnapatnam New Line 16. Balance section of Hospet - Guntakal Doubling (4 km) 17. Raichur - Guntakal Doubling 18. Tikiapara - Santragachi Doubling 19. Bilaspur - Urkura 3rd Line Doubling 20. Renigunta - Guntakal – RE 21. Tomka -Banaspani – RE 22. Bharuch - Samni – Dahej Gauge Conversion 23. Angul - Sukinda New Line 24. Salka Road - Annuppur Doubling 25. Sambalpur - Titlagarh Doubling 26. Raipur - Titlagarh - Doubling 27. Panskura - Kharagpur 3rd Line Doubling 28. Bhopal - Bina 3rd Line Doubling 29. Jakhpura- Haridaspur 3rd Line Doubling 30. Dalli - Rajhara - Raoghat New Line 31. Goelkera - Manoharpur 3rd Line Doubling

d. Projects under sanction

1. Hospet - Tinaighat - Doubling

2. Daund - Gulbarga Doubling

3. Pune - Guntakal Rly Elect.

4. Panskura - Haldia Ph II Doubling

5. Surat - Hajira New Line

6. Banaspani - Jakhpura – Doubling

7. Digi Port

8. Rewas Port

e. Projects handed over to Railways:

The following projects were handed over to Zonal Railways during 2007-08:

1. Pakni-Solapur Doubling ,

2. Pakni Mohol Doubling ,

3. Diva-Kalyan 5th and 6th Line Doubling ,

4. Vridhhachalam - Attur (83 KMs) section of Cuddalore-Salem

f. ADB funded projects

For the first time in Indian Railways history, RVNL is implementing 12 projects with ADB funding (7 in progress and 5 in the development stage) which requires compliance of various loan covenants on resettlement and rehabilitation of project affected persons, procurement of works and stores following international competitive bidding and implementation of plans for mitigating of social and environmental impacts. RVNL has fully utilized disbursement target of Rs.200 Cr. during the calendar year 2007 and the target for 2008 is Rs. 345 Cr. On basis of performance of RVNL, Railway Board has transferred the following five projects under ADB phase-II loan to RVNL for execution:

1. Sambalpur - Titlagarh - Doubling ,

2. Raipur - Titlagarh - Doubling ,

3. Daund - Gulbarga Doubling ,

4. Pune - Guntakal Rly Elect.

5. Hospet - Tinaighat - Doubling

g. Contracts awarded during 2007-08 :-

The following contracts were awarded by the Company during the year under review:

- Construction of Roadbed including Major & Minor Bridges, Facilities and General Electrification in connection with construction of New BG line between Haridaspur & Paradip in East Coast Railway in the State of Orissa, India (276 Cr)

- OHE works of Obulavaripalle-Krishanapatnam New line phase-1(15 cr)

- Railway Electrification of Tomka-Jaroli single line section of Khurda road division of East coast railway (50 Cr)

- Telecommunication works of Bhildi Samdari GC Project (4 Cr)

- Construction of major bridges and Misc. works of Ajmer – Rewari GC Project ( 63 Cr)

- Manufacture and supply of PSC sleepers (77 Cr)

- Fabrication and erection of welded girders and strengthening of existing bridges and Misc. works for Bhildi-Samadari GC project (36 Cr)

- Roadbed, track and general electrification for Guntakal-Raichur Doubling (94 Cr)

h. Important contracts awarded after the closure of Financial year After the closure of the Financial year and as on date of report, following contracts have been awarded:-

- Signaling works of Bhildi Samdari GC Project (22 Cr).

- Construction of Roadbed, bridges and track linking and S&T works in connection with doubling between Salka Road - Khongsara (25.8 Km) and Khodri - Anupur (61.6 Km) on Bilaspur Division (178 Cr).

- S&T work in connection with Route setting panel interlocking at 5 stations from Venkatachalam – Krishnapatnam (11 Cr).

- Supply of solar panel charging system and DG sets for Ajmer – Rewari GC project (4 Cr).

i. Technological Innovations :

- RVNL is constructing one of the longest railway bridges (4.6 km. length) near Cochin to serve International Container Terminal at Vallarpadam. This bridge is having 4 curves ranging from 2 to 2.5 and will be provided with complete ballasted deck. The launching girder to launch the main PSC girders requires equipment with specific technical requirements which has been imported at a cost of Rs.6.00 Cr.

- To ensure quality of concrete, complete automated batching plants of up to 60 cum/hour capacity have been installed at sites. Specific required grade of concrete for different usages is ensured with an advanced electronically controlled system.

- Flash Butt Welding by using mobile plants introduced in a big way in all RVNL construction projects. At present 8 plants are working in different projects, this will greatly improve reliability of assets and result into improvement in safety.

- To improve quality, gradation and huge requirement of ballast, large size crushers have been installed at different project sites.

- Mechanized track linking adopted in big way in RVNL projects for the first time in Indian railways, resulting into improvement in track laying parameters.

- Thick Web Switches are being provided on a large scale on RVNL projects and this will improve life cycle cost and safety aspects.

- High tensile Steel Welded girders steel have been introduced upto span of 89.3M. One girder of 89.3M has already been erected and RDSO has cleared the same. Due to precision working and stringent quality control adopted, the actual camber of girders is closely tallying with the calculated theoretical values. Around 550 MT of steel is being fabricated at each site per month.

- First time, RVNL has adopted the PSC girder span of 45.00 metre with 30T axle load. The girders (weighing 660 MT each) are to be precast and launched through launching girder. Drawing has been developed by RVNL and approved by RDSO.

- Imported Rotary Rigs have been deployed for piling work. These rigs were earlier used in metro constructions only.

- Pug mills have been installed for mixing of granular materials in pre-determined proportions for achieving best quality of gradations for blanketing material.

- To obtain full compaction, uniform slope and grade, earthwork is being executed by machines only. Vibratory rollers, Graders and High Output dozers are deployed at each site. Soil Testing Laboratories have been established at all sites to monitor the physical properties of the soil and quality of blanketing material.

- On 2nd bridge over river Mahanadi having steel girder spans, LWR has been provided from pier to pier with H Beam sleeper and zero toe load fastening system which will facilitate trouble free maintenance and reduce possibility of rail fracture and shearing of bolts, thereby improving asset reliability.

- Solid state Interlocking has been adopted in big way on RVNL projects which will result in improvement of efficiency and facilitate future improvement / modification of yard at minimal cost. 17 Nos. of such SSIs have already been installed and another 50 Nos. are likely to be installed during next year. More and more new venders are being introduced in this area by RVNL with the approval of RDSO.

- Moreover, RVNL is extensively deploying Solid State Interlocking systems, Event and Data Logging systems, VDU’s for operations of signals at stations as part of its project execution. Integrated control communication on optical fibre backbone has been provided even at remote locations like Daitari – Banspani section of East Coast Railway.

4. PERSONNEL DEVELOPMENT:

RVNL has been created by the Ministry of Railways to remove the capacity bottlenecks in rail infrastructure. Acquiring the required talented and experienced manpower, retaining and developing them have been the key focus area in the company for achieving its corporate objectives. Manpower policy of RVNL envisages a lean organization with need-based deployment of staff in Corporate office and Project Implementation Units within the sanctioned strength of 360 posts. As on date the Company has 248 regular/re-employed personnel on its roll. The total number of women employees is 13, out of which 3 are executives. As per the policy approved by the Board of Directors, technically qualified persons have been inducted from the open market through walk in interview. The existing manpower strength of the organization is being reviewed to cope with the additional workload arising due to assigning of a few more projects by the Ministry of Railways and opening of two new Project Units at Kolkata and Hubli.

RVNL was initially transferred 46 projects costing about Rs.12,000 crore. Meanwhile, Railway Board has transferred 9 additional projects with significant scope and cost to RVNL. In the recent reviews of performance of RVNL taken by the Ministry of Railways, it has emphasized that RVNL has to complete projects on a fast track basis. The expectations from RVNL can be met only by significant strengthening of organization. For strengthening of organization, the Board of RVNL has approved for creating its own cadre and for formulation of RVNL’s Absorption and Recruitment & Promotion Policy to this effect. The Company has also resolved to go ahead with the projects outside Railways as well for establishing its sustainability.

Since its inception, the organization has been emphasizing on employees’ motivation by providing them a hygienic and healthy work environment with modern infrastructure. To enhance and develop the skill and ability of the employees, a number of officers and staff were deputed for various seminars and training programmes on the subjects of project management, infrastructure finance, railway engineering, Labour Laws, Arbitration, etc. RVNL is also a Corporate member of various trade and industry organizations, such as CII, ASSOCHAM, and CIDC and keep close liaison with them.

Steps were initiated to have multi- disciplinary medical facilities for the employees of the Company in the office premises by arranging the services of Allopathic, Ayurvedic and Homeopathic doctor thrice a week.

The Company celebrated its Foundation Day on 29th February, 2008 with elegance. Member Engineering/ Railway Board and Chairman/ RVNL, Mr. S.K. Vij apprised the audiences about the progress of RVNL including new initiatives, which were well received. The Hon’ble Union Minister of State for Railways, Shri R.Velu graced the function. The other distinguished guests included Chairman and Members of Railway Board and senior dignitaries from Railways and Railway PSUs. Deserving employees were honored with plaque and cash awards for their outstanding contribution to the Company. Artists of Song & Drama Division of Ministry of Information & Broadcasting were invited by RVNL to present the rich heritage of India by way of various folk songs and dances of different states.

a. Particulars of Employees under Section 217 (2A) of Companies Act, 1956

None of the employees of the Company has drawn remuneration exceeding the limits laid down under the provisions of section 217(2A) of the Companies Act read with Companies (Particulars of Employees) Rules, 1975 as amended from time to time.

b. Memorandum of Understanding

During the year, the Company signed a Memorandum of Understanding (MoU) with Ministry of Railways depicting its physical and financial targets for the year 2008-09. RVNL has committed to achieve 240 kms of Gauge Conversion, 260 kms of Doubling, 80 kms of Railway Electrification and 5 kms of New Line works. The achievements of these targets would entail a financial expenditure of around Rs. 1725 crores. The Company is expected to get its first MoU rating by Department of Public Enterprise shortly on the basis of the achievement of the committed targets for the year 2007-08. In order to devise an incentive Scheme/PLB to the employees based on the MOU entered between RVNL and Ministry of Railways, the services of National Productivity Council have been availed.

5. COMPLIANCES

a. Industrial Relations

During the year, Industrial relations remained harmonious.

b. Vigilance

The Vigilance organization in RVNL consists of a Part time CVO and two Assistant Managers reporting to CVO. The major thrust of Vigilance Department in RVNL is preventive intervention through educating the officers and employees about procedures and guidelines. A number of instructions have been issued by Vigilance Department which include:

1. movement of classified documents within office,

2. guidelines and instructions on opening of Tenders, preparation of Comparative Statement, Briefing Note & custody of tender documents and tender files.

3. vigilance clearance for RVNL’s employees as well as for officer / officials on deputation to RVNL.

4. acceptance of downloaded bid documents for bid submission.

5. terms and conditions of engagement of retired Government/PSU officials in RVNL as Advisers/ Consultants.

In addition of above, the instructions issued from Central Vigilance Commission and Railway Board were also circulated. Some of the important instructions issued included , increasing transparency and cutting delays by e-payments and e-receipt, improving vigilance administration by leveraging technology and increasing transparency through effective use of websites in discharges of regulatory, enforcement and other functions of Govt. organizations, use of products with standard specifications, transparency in purchase contracts awarded on nomination basis and tendering process- Negotiations with L-1

The Company celebrated successfully the Vigilance Awareness Week, 2007 during 12th November, 2007 to 16th November, 2007. The function was started with a pledge taking ceremony chaired by Managing Director/RVNL, during which the pledge was administered to all the officers/staff of the Company. Banners/posters relating to vigilance awareness were also displayed in the RVNL’s office.

A lecture cum interactive session on “Award of Contracts” was delivered by Shri R. R. Jaruhar, Ex. Member Engineering/Railway Board on 15.11.2007. Shri A. K. Upadhyay, Adviser/Vigilance/Railway Board was the distinguished speaker on the lecture cum interactive session which was highly appreciated by all.

RVNL has brought out the second Vigilance Bulletin during the Vigilance awareness week. This was released by Shri A.K.Upadhyay, Adviser/Vigilance/ Railway Board during a lecture cum interactive session held on 15/11/2007.

c. Right to Information Act, 2005

Right to Information Act, 2005 has been enacted by the Parliament of India to provide for setting out the practical regime of right to information for citizens to secure access to information under the control of public authorities, in order to promote transparency and accountability in the working of every public authority.

As per the provisions of RTI Act, 2005, Rail Vikas Nigam limited, being a wholly owned Government company and covered under it, has nominated a Central Public Information Officer and one state level Public Information Officer for each of the Project Implementing Unit of the Company. The details of the officers nominated under the Act have been uploaded on the website of RVNL to facilitate information about the affairs of the Company.

d. MCA 21

Ministry of Corporate Affairs (MCA) had taken an initiative in the year 2006 for electronic filing of all documents related to Company matters on the Ministry of Company Affairs portal. MCA21 is an e- Governance initiative that builds on the Government’s vision to introduce a service oriented approach in the design and delivery of Government services, moving from the traditional paper based operation to a near paperless environment.

Under the pilot launch of the flagship e-governance programme of the Ministry of Corporate Affairs , the Company has been duly filing all its forms and returns online since September, 2006. The Company has in place Director Identification Number (DIN) of all its Directors and Digital Signatures of Managing Director, Director/Operations, Director/Finance and Company Secretary has already been obtained.

e. Rajbhasha (Official Language)

Implementation of Rajbhasha (Official Language) is being closely monitored under strict supervision of Mukhya Rajbhasha Adhikari, Upa Mukhya Rajbhasha Adhikari and experienced Translators/Executives. All the directives issued by the Committee of Parliament on Official Language, which reviewed the progress of implementation of Rajbhasha in RVNL during 2006, are receiving due attention at all levels and progressively implemented. To encourage effective implementation of Rajbhasha, essay competitions in Hindi were held for employees of RVNL on the occasion of Hindi Diwas and Quami Ekta Diwas.

Also an elocution contest was held during the last financial year, when a large number of employees of the organization participated in all these events. Apart from this, Stenographers willing to acquire expertise in Hindi Shorthand and Typing are being progressively nominated for classes being held by the Hindi Tankan Aur Ashulipi Prashikshan Sansthan of Rajbhasha Vibagh under Griha Mantralaya.

To keep abreast with the directives of the Government of India regarding implementation of Rajbhasha and also to advise the progress of implementation of Rajbhasha in RVNL, meetings are held with representatives of the Rajbhasha Directorate of Ministry of Railways at regular intervals.

The company has also set up a Reading room–cum- library with fine collection of books in Hindi and RVNL staff is being benefited from these books, newspapers and periodicals. The website of the Company has the Hindi version uploaded also.

f. Presidential Directive

No Presidential Directive has been issued to the Company during 2007-08.

g. Particulars Relating To Conservation Of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo etc.

(i) Conservation of Energy and Technology Absorption

The Company is fully aware of the responsibility to conserve energy in an overall energy shortage situation. The preservation of electric energy in the office premises of the Company is being achieved by designing the office lay out in the most energy-friendly manner. The office building is having open spaces and windows on all sides and full use has been made to utilize sunlight for illumination of office accommodation, rooms and chambers. Systems are also in place to conserve electricity during and after office hours.

(ii) Foreign Exchange Earnings and Outgo

During the financial year 2007-08, the Company spent Rs. 0.76 lakhs in foreign currency towards foreign travel of RVNL officials for attending seminars. The Company also spent Rs. 49.07 lakhs in foreign currency towards consultancy services for monitoring of sub- projects implementation of ADB funded projects (Package-I, sub projects) 2nd Bridge over river Mahanadi on Cuttack- Neragunadi section of East Coast Railway Main Line. The Company though did not earn any foreign exchange.

6. AWARDS/APPRECIATION

During the year under review, Hon’ble Minister of Railways, Shri Lalu Prasad Yadav announced a cash award of Rs. 10 lakhs for the employees of RVNL at the inaugural function of Gauge Conversion of Delhi-Rewari section on 7th October, 2007, after its successful commissioning and Rs. 1 lakh was given by Hon’ble Minister of State for Railways, Shri. R. Velu on completion of Salem-Attur project.

Ministry of Railways appreciated the excellent performance of RVNL and Chairman/Railway Board communicated the same through a letter, which reads as under:

I am happy to note that RVNL has successfully commissioned 2nd bridge over river Mahanadi near Cuttack ahead of schedule, which is a remarkable feat. RVNL has been able to physically commission new line, gauge conversion, doubling and RE works of 221 km in 2007-08. Targets set for the current financial year are more challenging and as RVNL is now targeted to commission 863 kms of works during 2008-09.

RVNL has been able to bring quality in construction activities through mechanization and use of automated batching plants, mobile flash butt welding plants, mechanized track linking, provision of thick web switches, use of imported rotary rigs for pilling work, use of pug mills for mixing of granular material, use of vibrated rollers and large scale introduction of Solid State Interlocking. I expect that the quality and pace of work in RVNL shall witness a quantum jump in current year.”

7. DIRECTORS’ RESPONSIBILITY STATEMENT

The Board of Directors of the Company in pursuance of section 217 (2AA) of the Companies Act, 1956 as amended hereby confirms:

I. that in the preparation of the annual accounts, all the applicable accounting standards alongwith proper explanation have been followed and there has been no material departure.

II. that such accounting policies were selected and applied consistently and such judgments and estimates were made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company and Profit & Loss of the Company for the year ended on 31st March 2008.

III. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

IV. that the Annual Accounts have been prepared on a going concern basis.

8. BOARD OF DIRECTORS

During the year under review, the composition of Board of RVNL has undergone some changes due to appointments/ cessations as mentioned below:

Mr. Satish Agnihotri assumed the charge of Director/ Projects on the Board of RVNL on 04.07.2007 (FN).

Mr. A.K. Gulati ceased to become Director/Personnel the Board of RVNL due to completion of his tenure w.e.f 25.11.2007.

Mr. S.P. Vatsa , Additional Member(Works) ceased to be a part-time official Director on the Board of RVNL w.e.f 22.07.2008 as communicated vide Ministry of Railways Order No. 2003/PL/92/7 dated 22.07.2008.

Mr. S. K. Malik, Adviser (Works), Railway Board has been nominated as part-time (official) Director on the Board of RVNL w.e.f 22.07.2008 vice Mr. S.P. Vatsa. On the date of report, the strength of the Company is ten Directors comprising of four functional directors including Managing Director, two part-time official directors including part-time (official) Chairman and four independent directors.

During April 2007 to March 2008, six meetings of the Board of Directors were held with one meeting each in quarters ending June 2007, September 2007, December 2007 and three in quarter ending March 2008. The following Director joined Board of RVNL during financial year 2007-08.

Mr. Satish Agnihotri -- From 04.07.2007 (FN) Director (Projects) onwards

The following Director joined Board of RVNL after the closure of financial year 2007-08.

Mr. S.K. Malik, -- From 22.07.2008 onwards Adviser(Works)/Rly. Bd. &, Director/RVNL (Part-time official)

The following Directors ceased to hold the office during the financial year 2007-08:

Mr. A.K. Gulati -- Held office from Director (Personnel) 25.11.2004 (AN) onwards to 25.11.2007

The following Directors ceased to hold the office after the closure of the financial year 2007-08:

Mr. S.P. Vatsa, -- Held office from AM(Works)/Rly. Bd. &, 09.02.2007 to 22.07.2008 Director/RVNL (Part-time official)

The following Directors are holding office as on the date of the report:-

1. Mr.S. K. Vij -- From 09.02.2007 Member Engineering/ onwards Rly. Bd. &, Chairman/RVNL (Part-time official)

2. Mr.D.C.Mitra -- From Managing Director/ 05.07.2006 (FN) RVNL onwards

3. Mr. Ranjan K. Jain -- From Director (Operations)/RVNL 30.12.2004 (AN) onwards

4. Mr. Harish Chandra, -- From Director (Finance)/RVNL 11.03.2005 (AN) onwards

5. Mr. Satish Agnihotri, -- From Director(Projects)/RVNL 04.07.2007 (FN) onwards

6. Mr. S.K. Mailk, -- From 22.07.2008 Adviser(Works)/Rly. Bd. &, onwards Director/RVNL (Part-time official)

7. Mr. S. Murali -- From 04.10.2005 (Part-time non-official onwards Director)

8. Mr. D.P. Tripathi -- From 04.10.2005 (Part-time non-official onwards Director)

9. Dr. V.K. Koshy -- From 04.10.2005 (Part-time non-official onwards Director)

10. Dr. T.T. Ram Mohan -- From 04.10.2005 (Part-time non-official onwards Director)

9. AUDITORS

The Comptroller & Auditor General of India has appointed M/s Arun Singh & Co., Chartered Accountants as Statutory Auditors of the Company for the year ended 31st March, 2008. The Board would like to thank them for the services rendered during the audit of accounts under review.

10. ACKNOWLEDGEMENTS

We record our appreciation and thanks to Ministry of Railways (MoR), Ministry of Finance, various banks, the Zonal Railways, RITES, IRCON for their continued interest and support to the Company.

We take this opportunity to applaud the employees of the Company at all levels, which are the pillar of strength of the Company, for their invaluable contribution to the growth of the Company.

We would also like to thank the officials of Comptroller & Auditor General of India for their co-operation and guidance during the year under review.

On this occasion, we would also like to acknowledge the contribution made by all the predecessors, who have been associated with RVNL and whom efforts have brought the Company to its present status and have played key role in attainment of the Company’s aims and goals in all spheres.

For and on behalf of Board of Directors

(D.C.Mitra) (Harish Chandra) Managing Director Director/Finance

New Delhi Dt : 07-08-2008

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Mar 31, 2007

It is a great privilege for the Directors to present the Fourth Annual Report of the Company along with Audited Annual accounts for the year financial year 2006- 07. It gives immense pleasure to inform that the Company has once again shown all round excellent performance during the year under review.

It has also an Addendum to the Directors’ Report containing Management replies to the observations made by auditors’ in their report.

1. SNAPSHOT OF MAJOR ACHIEVEMENTS:

The major achievements of RVNL during 2006-07 are highlighted below:

a) During the year 2006-07, the project expenditure (inclusive of SPVs ) was increased to Rs. 1236.24 crore from Rs. 843.35 crore with growth of 46.59% and the reserves and surplus also increased to Rs. 3.59 crores from Rs. 1.89 crores during the previous year.

b) During this financial year, Doubling of 44.5 Km , New Line 98 Km , Gauge Conversion of 139 Km & Railway Electrification of 496Km , there by totaling 778 Km have been completed which constitutes almost 13.5% of the total length of projects assigned to RVNL.

c) Major focus continued on execution of projects, which are operationally important and urgent. Passenger trains have started on Delhi-Rewari Gauge Conversion Project on 10.11.2006. This project was lying frozen for more than 10 years. Similarly, a new corridor to connect iron ore mining area of Banspani with Paradeep Port has been established by construction of new line between Banaspani and Daiitari. The work has been successfully completed on 15.2.07 and freight trains have started running since 25.3.07. This project will provide much needed transport infrastructure for movement of iron ore for export through Paradip Port, iron ore for steel plants in Kalinganagar Steel Complex and imported coking coal to the steel plants. It was one of the most difficult projects due to the difficult terrain and inaccessibility to the project site. It was a major achievement to complete the 100Km length of project in time.

d) Cuddalore-Salem Gauge conversion project, which will provide broad gauge rail connectivity to Cuddalore Port has reached completion stage. Work on Attur-Salem portion of the project has been completed on 30.3.07 by RVNL. The entire project length is awaiting CRS inspection shortly.

e) The economy in cost of supervision and monitoring of projects (D & G charges) has been achieved to a large extent. The D & G charges are achieved at 3.93% level as against 6.5% to 10.5% for different departments provided by Railway Board for Railway construction projects. This is in spite of the fact that a number of cost elements like rent for office building and travel expenses have to be borne by the company unlike Railways.

f) Railway Board assigned the task of fixing of consultant and undertaking of Traffic and Financial Studies of four Dedicated Freight Corridors, namely, Delhi-Chennai (North-South Corridor), Kolkata-Mumbai (East-West Corridor), Kharagpur-Vijaywada (East-Coast Corridor) and Goa-Chennai (Southern Corridor). RVNL has already appointed consultants for first two corridors and the reports are likely to be submitted by November, 2007.

g) The major Bridge of 2.3 Kms over the River Mahanadi near Cuttack is progressing ahead of schedule and expected to be completed before stipulated date of completion.

h) During the year, RVNL could establish three Joint Venture Special Purpose Vehicles (SPVs) for port connectivity work under Public Private Partnership models with the signing of Shareholders Agreements for all the SPVs.

i) Despite pressures generated by tight schedules of projects execution, over twenty-five per cent of the staff and officers were deputed for training and other staff development programmes during the year 2006-07.

2. FINANCIAL PERFORMANCE

Turnover and Net Worth

RVNL has achieved an impressive growth in its business of project execution. The expenditure on account of project works (inclusive of expenditure by SPVs) has increased from Rs. 843.35 crore to Rs. 1236.24 crore registering a growth of 46.59% during the financial year 2006-2007.

The income for the year has also increased to Rs. 6.54 crore as against Rs. 4.65 crore during the previous year resulting in a growth of 40.65%. The amount of profit taken to reserve and surplus is Rs. 3.59 crore as against Rs. 1.89 crore during previous year. The net worth of the company at the close of financial year has also increased to Rs. 1668.26 crore as compared to Rs. 1194.24 crore in last year.

The other financial indicators also show remarkable performance by the Company during the year under review. The earning per share (EPS) has increased from Rs. 0.02 per share to Rs. 0.04 per share.

2006-2007 2005-2006 Growth

Net worth (Figure in crore) 1668.26 1194.24 36.69% Project Expenditure (Figures in crore) 1236.24 843.35 46.59% Income from project execution 6.54 4.65 40.65% (Figures in crore) Profit during the year (Figures in crore) 3.59 1.89 86.77% EPS (Figure in rupees) 0.04 0.02 100.00%

Capital Structure

As on 31st March, 2007, the Authorized and paid-up share Capital of the Company stands at Rs. 3000 crore and Rs. 1150,02,01,000 respectively. The paid-up capital of the Company has been enhanced on account of equity contribution from Ministry of Railways, Government of India that holds the entire paid-up share capital of the Company.

Reserves and Dividend

The Company proposes to take Rs 3.59 crores to reserves and surplus as against Rs. 1.89 crores for the last financial year. As the accumulated reserves are still small as compared to the equity base, the Company does not recommend to declare dividend.

Financial Resource Mobilization

RVNL has executed projects through its equity, borrowings and by forming joint venture Special Purpose Vehicles. Apart from projects being planned through Joint Venture SPVs, the Company has borrowed additional funds amounting to Rs. 450 crore from IRFC during the financial year 2006-07. The total borrowings as on 31st March 2007 is Rs. 968 crore. The interest liability has been assessed @ 7.90% for the financial year 2005-2006 and @ 9.50% for the financial year 2006-2007. The MOR has undertaken to bear the re-payment liability of principal and cost of borrowing (interest & processing charges) on the entire sum of the borrowed funds.

Change of Registered Office

As approved by the Board of Directors of the Company, the Registered Office of the Company got shifted from C-2/10, Safdarjung Development Area, Aurobindo Marg, New Delhi –110016 to 1st Floor, August Kranti Bhawan, Bhikaji Cama Place, R. K. Puram, New Delhi-110066 w.e.f. November, 2006.

3. OPERATIONAL PERFORMANCE:

RVNL undertakes project development from the stand point of establishing financial viability, bankability, and its structuring to make it amenable to private funding or non-budgetary funding. It does so by establishing project cost through technical surveys, updation of project cost and finalization of various technical parameters and design. The company so far has undertaken 38 studies. Some of the new projects, for which studies have been completed are rail connectivity to Dighi Port, rail connectivity to Dholera Port, doubling of Banspani to Jakhpura, doubling of Hospet to Vasco, railway electrification projects for Haridaspur-Paradip, Banspani-Jakhpura and Angul-Sukinda. Railway Board has further transferred to RVNL structuring of rail connectivity to Rewas Port. In addition, a number of PPP projects, which are identified by the Zonal railways, particularly South Eastern and East Coast Railways are under consideration for transfer to RVNL. Transfer of another shelf of projects to RVNL is under active consideration of Railway Board.

The bankability studies have been undertaken by the company through independent financial consultants using industry practice. A total of 36 projects have been studied so far. As an outcome of these studies, 28 projects were found bankable and 8 projects are found non-bankable. Bankability studies of 5 projects are in progress. During the year, 2 unsanctioned projects Bina – Bhopal 3rd Line and Panskura – Kharagpur 3rd Line Doubling were sanctioned by Ministry of Railways on the basis of these bankability studies.

RVNL is presently implementing 7 projects through ADB funding, 11 projects through IRFC borrowing, 9 projects through “Capital Fund” of Railways, 11 projects with RVNL equity and 7 projects through Project Specific SPVs. One project is implemented through full funding of Ministry of Shipping. Project development of four projects is in progress.

Railway Board assigned the task of fixing of consultant for undertaking study and preparation of bidding document and bid process management for setting up of Agri Retail Logistics Chain on vacant railway land at various locations in order to leverage railway land for getting more traffic on to railways and to be a part of Agri Retail Logistics Chain.

After the teething troubles in 1st loan of ADB were over, RVNL is going in full steam in implementation of ADB funded projects. All the issues pertaining to Rehabilitation and Resettlement have been resolved. R&R of three projects has been fully completed so far, as per ADB’s guidelines and for the remaining four projects; it is expected to be completed by October 2007. During the current calendar year (2007), RVNL hopes to achieve disbursement target of US Dollar 78. As per present planning, RVNL hope to complete all ADB funded projects except one by December, 2008 and the last project by June, 2009. Railway Board has also started the process for sanction of 2nd ADB loan. The size of this loan is expected to be much larger than the earlier loan. These projects are also expected to be handled by RVNL right from the project preparatory stage and right through to examination of Rehabilitation and Resettlement (R&R) and environmental impact and preparation and tendering of contract packages. While negotiating the 2nd loan, it has been suggested by RVNL to specifically deal with all the issues, which caused the initial delay in implementation of projects under 1st loan.

JOINT VENTURE SPECIAL PURPOSE VEHICLES

Kutch Railway Company Limited, a Joint Venture SPV of RVNL, has successfully completed Gandhidham-Palanpur Gauge Conversion Project, by commissioning the second phase of the project in November, 2006. The project has been completed ahead of target. This project in the very first year of operation has moved 8.5 MT of freight traffic.

During the year 2006-07, the Company established three Joint Venture SPVs for Haridaspur Paradip New Line, Obulavaripalle Krishnapatnam New Line and Bharuch-Dahej Gauge Conversion project. On advice of Railway Board to follow Concession Agreement of Kutch Railway Company Limited as Model Concession Agreement and Shareholders’ Agreement and Operation and Maintenance (O&M) Agreement of Pipavav Railway Corporation as Model Shareholders Agreement and Concession Agreement, Shareholders Agreement for Haridaspur Paradip New Line SPV, Obulavaripalle Krishnapatnam New Line SPV and Bharuch-Dahej Gauge Conversion SPV were signed. These SPV have been registered as companies and Board of Directors has been constituted. Approval of Concession Agreements for these SPVs and approval of Traffic Guarantee Agreement for Haridaspur-Paradip SPV is pending with Railway Board. Project development of Angul-Sukinda New Line SPV and Surat-Hazira New Line SPV is also awaiting approval of Concession Agreement from Railway Board.

4. PROJECT EXECUTION:

4.1 Physical Size of the Projects:

Rail Vikas Nigam Limited is implementing four types of projects under the initiative of Golden Quadrilateral and Port connectivity. These are as under: - Doubling = 1811 Km

Gauge Conversion = 1585 Km

New Line = 493 Km

RE = 1906 Km

Total = 5795 Km

RVNL has till now completed 155 Kms. of new lines, 795 Kms. of gauge conversion and 276 Kms. of doubling and 954 Kms. of Railway Electrification as on 31.03.07. This is approx 38% of the total assigned length of 46 projects.

Implementation of 3 projects has been completed during the year thus completing 10 projects upto close of Financial Year 2006-07. Construction activities are in physical progress on 24 projects. Final Location Survey of 1976 Km has so far been completed. The surveys of Salka Road- Annuppur, Bhopal- Bina are in advanced stage of progress and expected to be completed by August 2007.The work of construction of 2nd bridge over river Mahanadi near Cuttack is progressing smoothly and 17 out of 32 spans have been launched. This is expected to be completed as per schedule by March, 2008.

Another important project requiring a specific mention is connectivity to Vallarpadam Container Hub Port. The agency for the construction has been finalized on 23.2.07. Site has been fully mobilized and construction of a bridge connecting the Vallarpadam island with mainland has commenced.

During the year 2006-07, in addition to the earlier established Project Implementing Units (PIUs) at Mumbai, Secunderabad, Chennai, Bhubaneswar, Jaipur, and Delhi, RVNL established two more PIUs at Bilaspur and Kolkata for project execution.

To resolve the problems relating to land acquisition, which is a very significant activity for executing any project, correspondences were made to the concerned State Governments and Zonal Railways. Special meetings were also held at the top management level of the Company to reduce the cost of land acquisition especially in SPVs.

Regarding ADB projects, by maintaining close liaison with officials of ADB, all pending issues including R&R have been settled with ADB. All works (8 Nos.) and supply (3 Nos.) contracts have been placed in position in the financial year. Focused attention on the disbursements during 2007 shall prove the capacity of the company. This shall dispel all doubts about the funding model through ADB.

4.2 Works completed during the year

During 2006-07, following RVNL projects or portions of the projects have been completed:

Doubling Km Panvel - Jasai JNPT Doubling 28.5 Gadiganuru - Bayalavaddigeri Block Section Of Hospet - 16 Guntakal Doubling New Line Keonjhar - Tomka Section Of Daitari - Banspani New Line 98 Gauge Conversion Kumbakakonam - Mayiladuthurai Sec. Of Thanjavur - Villupuram 32 GC Attur - Salem Of Cuddalore - Salem GC 56 Samkhiali - Gandhidham Of Gandhidham - Palanpur GC 51 Railway Electrification Kharagpur - Bhubaneshwar Including Cuttack - Talcher RE 496

Total 778

4.3 Important contracts awarded during the financial year

Contracts have been awarded for majority of the sanctioned projects during the year and these are in different stages of construction:

1. Barang Gurup Doubling Projects – Road Bed, Major Bridges and Track/OHE/S&T

2. Palwal – Bhuteswar 3rd Line Doubling

3. Aligarh – Ghaziabad 3rd Line Doubling

4. Pattabiram – Thiruvallur 3rd Line Doubling

5. Gooty – Renigunta Patch Doubling (Civil and Signalling)

6. Bhatapara – Urkura 3rd Line Doubling

7. Bhildi Samdari Gauge Conversion

8. Rewari-Ajmer Gauge Conversion ( Signalling )

9. Mayiladuthurai – Villupuram Gauge Conversion

10. Vallarpadam – Idapally New Line

11. Obulavaripalle – Krishnapattnam New Line (Phase-I)

12. Pullampet – Nandlur RE (21 RKM)

4.4 Important contracts awarded after the closure of financial year

After the closure of Financial year and as on date of report, contract for construction of Haridaspur – Paradip New Line has been awarded and that for Raichur – Guntakal Doubling is under finalization.

4.5 Action Plan 2007-08

A total of 13 Projects/ Project Sections have been targeted for completion during 2007-08. Rewari-Ajmer Gauge Conversion (Signalling)

9. Mayiladuthurai – Villupuram Gauge Conversion

10. Vallarpadam – Idapally New Line

11. Obulavaripalle – Krishnapattnam New Line (Phase-I)

12. Pullampet – Nandlur RE (21 RKM)

4.4 Important contracts awarded after the closure of financial year

After the closure of Financial year and as on date of report, contract for construction of Haridaspur – Paradip New Line has been awarded and that for Raichur – Guntakal Doubling is under finalization.

4.5 Action Plan 2007-08

A total of 13 Projects/ Project Sections have been targeted for completion during 2007-08 as under:

Pakni - Solapur Doubling (16.28 Km), Diva - Kalyan 5th & 6th Line (11 Km), New Delhi - Tilak Bridge 5th & 6th Line Doubling (2.65 Km), Attipattu - Korukkupet 3rd Line Doubling (18 Km.), Balance Of Torangallu - Hospet (19 Km) Section Of Hospet - Guntakal Doubling, Tikiapara - Santragachi Doubling (5.6 Km), Mayiladuthurai - Villupuram Gauge Conversion (121 Km), Virdhachalam - Attur (83km) Section Of Cuddalore-Salem Gauge Conversion, Balance Of Kharagpur (Nimpura) - Bhubaneswar - RE (44 Km). Pakni - Mohal Doubling (17 Km ) , Rajatgarh - Barang Doubling (29.32 Km ), 2nd Bridge On River Mahanadi (3 Km), Thiruvallur - Arakkonam 3rd Line Doubling (26 Km ), Phulera – Rewari Section (215 km) of Ajmer - Rewari Gauge Conversion .

5. PERSONNEL DEVELOPMENT:

5.1 Harnessing Human Resources for Corporate Objectives

Human Resource has become one of the most critical inputs for infrastructure development in the country without which sustained growth of Indian Economy may not be possible. RVNL has been created to remove the capacity bottlenecks in rail infrastructure, and hence acquiring, developing, motivating and retaining human capital is the key focus area in the Company for achieving its corporate objectives.

The Human Resource Policy of RVNL lays emphasis on lean organization structure with minimal permanent liability. Further, being a project-oriented organization, RVNL requires flexibility in manpower deployment. Based on the above considerations, a manpower plan for RVNL was formulated after in-depth consultation within the Organization. The Board of Directors of RVNL approved the Manpower Plan in August 2006, which envisages need-based deployment of staff in Corporate Office and Project Implementation Units within the overall strength of about three hundred fifty personnel. RVNL is well on course for achieving the targets with regard to human resources.

5.2 Nurturing Human Capital for Optimal Performance

The real difference between one organization and another is the performance of its people. This realization has been the guiding principle of RVNL since its inception. To nurture its human capital the Company initiated number of steps such as providing hygienic working environment, taking care of physical health and well being, provision of modern office equipments and resource material for enhancing the knowledge and skill of employees, as also arranging social get- togethers for inculcating a sense of camaraderie among them and improving their inter-personal skills.

During the year Corporate Office of RVNL has shifted to a new premises at August Kranti Bhawan, Bhikaji Cama Place, New Delhi which is not only centrally located but is also tastefully designed for conducive work environment. Besides adequate office space and circulating area, the premises has provisions for refreshments, health check up and a Reading Room. Further, arrangements for recreational facilities are also under consideration. Keeping in view sharp increase in hotel tariffs and difficulty in arranging suitable accommodation for officers of RVNL visiting Corporate Office for official work from field Units, a transit accommodation-cum-rest-house facility has been set up within a short distance of the office premises. This facility is fully furnished and has arrangements for serving tea/coffee to visiting officers.

A number of staff and officers from RVNL were nominated for various training programmes, conferences and seminars during the year, relating to different aspects of project management and capacity building. The staff and officers are encouraged to become members of various professional bodies and institutions for which 90% of the membership fee is reimbursed by RVNL. RVNL also remains in constant touch with trade and industry organizations, such as Confederation of Indian Industry (CII), Associated Chambers of Commerce and Industry of India (ASSOCHAM), Construction Industry Development Council (CIDC) etc. and has benefitted from their various programmes relating to infrastructure and construction industry.

On the occasion of its Foundation Day on 24th January, 2007, RVNL organized a cultural programme where artists of Song & Drama Division of Ministry of Information & Broadcasting performed the folk dances of various states of the country, underlying the theme of ‘Unity in Diversity’. The Hon’ble Chairman and Members of Railway Board and senior dignitaries from Railways and Railway PSUs were invited as distinguished guests. Staff and officers of RVNL, who had made significant contribution during the year, were honoured by the Chief Guest.

5.3 Memorandum of Understanding

During the year, the Company added another feather in its cap by signing an Memorandum of Understanding with Ministry of Railways. As per the MoU, the Company has committed to achieve targets both physical and financial for the year 2007-08. In terms of physical targets, RVNL has committed to achieve 340 kms of Gauge Conversion, 70 kms of Doubling, 20 kms of Railway Electrification and 15 kms of New Line works. The achievements of these targets would entail a financial expenditure of around Rs. 1800 crores. On the basis of achievement of these targets, the productivity linked incentive scheme will be formulated for the benefit of employees of RVNL.

5.4 Particulars of Employees under Section 217 (2A) of Companies Act, 1956

None of the employees of the Company has drawn remuneration exceeding the limits laid down under the provisions of section 217(2A) of the Companies Act read with Companies (Particulars of Employees) Rules, 1975 as amended from time to time.

6. COMPLIANCES

6.1 Industrial Relations

During the year, Industrial relations remained harmonious.

6.2 Vigilance

During the year 2006-07, Vigilance Awareness Week was observed in RVNL from 6th November, 2006 to 10th November, 2006. A pledge taking ceremony chaired by Managing Director/RVNL was held during which the pledge was administered to all the employees of RVNL. A lecture cum interactive session on Award of Contracts was also delivered by Executive Director Vigilance (E)/Railway Board during the week.

The Vigilance Department has also released its first vigilance bulletin in order to educate and sensitize all the employees as well as to make them aware about the common irregularities committed at pre-tender stage to post award stage for contracts.

With a view to undertake preventive vigilance, the initiatives taken by vigilance department of RVNL have resulted into system improvement in several official matters. Consequently detailed guidelines on opening of tenders , preparation of comparative statement , briefing note and custody of tender documents. movement of classified documents, consolidated guidelines on engagement of retired Government/PSU officials were issued by the concerned Departments. A constant interaction with Central Vigilance Commission and Vigilance Directorate, Railway Board has also been maintained by CVO/RVNL.

6.3 Rajbhasha (Official Language)

A sub-committee of Committee of Parliament on official language reviewed the implementation of the Official Language Policy of the Government in RVNL in June 2006. The Committee while appreciating the work of RVNL had issued certain directives for further progress in this regard. It is heartening to note that RVNL has fulfilled all the assurances given to the Committee. Implementation of Official Language Policy in RVNL is also being monitored in the Railway Board Rajbhasha Implementation Committee who have expressed their satisfaction at the level of progress achieved in RVNL.

On the occasion of Hindi Diwas on 14th September an Essay & Elocution Contest was organized and prizes were distributed among the successful participants. A five days’ Hindi Workshop was organized in November, 2006 at Corporate Office and most of the officers and staff took keen interest in various activities and made the workshop a grand success.

A Reading room–cum-library set up in the Corporate Office has good collection of books in Hindi and RVNL staff is being benefited from these books, newspapers and periodicals. The Official Language Implementation Committee of RVNL meets on quarterly basis and a number of useful suggestions on propagating official language, which emerged during the discussions, have been implemented in RVNL.

6.4 Presidential Directive

No Presidential Directive has been issued to the Company during 2006-07.

6.5 Particulars Relating To Conservation Of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo etc.

(i) Foreign Exchange Earnings and Outgo

During the financial year 2006-07, Company has spent Rs. 28,38,322/- towards payments made to Halcrow Group Limited, a UK based firm for Project Management Consultancy of Package-1 sub-project cost of 2nd Bridge over river Mahandai on Cuttack- Neragunadi section of East Coast Railway Main Line. The Company, though did not earn any foreign exchange.

(ii) Conservation of Energy and Technology Absorption

The Company is making all efforts within the limited scope for utilization and saving of energy in construction contracts for reduction of energy consumption by putting systems in place. New office lay out has been made in the most energy-friendly manner through open spaces and windows on all sides and by making provision for complete utilization of sunlight for illumination of office accommodation, rooms and chambers.

RVNL being established with the mandate of Railway projects on fast track basis is going in right direction by initiating innovative practices and standards like bidding out EPC contracts as an integrated contract including all civil works, track linking, signaling, telecom and overhead electrification. This experiment has resulted in getting reputed & leading construction agencies. The project supervision is being organized through independent Engineer by appointing Project Management Consultants. With initial teething problems, the concept has now gradually picked up and is proving successful along with mix of departmental supervision.

7. DIRECTORS’ RESPONSIBILITY STATEMENT

The Board of Directors of the Company in pursuance of section 217 (2AA) of the Companies Act, 1956 as amended hereby confirms that:

i) that in the preparation of the annual accounts, all the applicable accounting standards alongwith proper explanation have been followed and there has been no material departure.

ii) that such accounting policies were selected and applied consistently and such judgments and estimates were made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company and Profit & Loss of the Company for the year ended on 31st March 2007.

iii) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv) that the Annual Accounts have been prepared on a going concern basis.

8. AUDIT COMMITTEE

The Company is fully aware of the significance of “Corporate Governance” in business management. In RVNL, it represents value framework, ethical framework and the moral framework under which the decisions are taken. Hence, Corporate Governance is high on the agenda of the Company’s Board. Keeping this in view, the company has taken steps for encouragement of the role and contribution of independent directors by constituting an Audit Committee of the Board of Directors comprising of all the independent directors of the Company with their varied experience and knowledge.

The scope of the Audit Committee in the Company is in accordance with the terms of reference prescribed under the Act which inter alia includes overseeing of the Company’s financial reporting process, recommending to the Board, the fixation of audit fees of statutory auditors with the management, consideration of the annual financial statements before submission to the Board for approval, in particular to changes in accounting policies and practices with reasons thereof, significant adjustments made in financial statements and qualifications in the draft audit report etc . The Audit Committee of the Company took initiative this year to adopt the code of Corporate Governance for RVNL as brought out by Department of Public Enterprises that would subject Company to achieve greater market orientation.

During the year 2006-07, members of the Audit Committee had three meetings. On the date of report, the Committee has the following members:

1. Mr. S. Murali

2. Mr. D.P. Tripathi

3. Dr. V.K. Koshy

4. Dr. T. T. RamMohan

Mr. S. Murali has been elected as Chairman of the Committee.

9. BOARD OF DIRECTORS

During the year under review, the composition of Board of RVNL has undergone some changes due to appointments/cessations as mentioned below:

Mr. S. K. Vij joined as part-time official Chairman on the Board of RVNL on 9th February, 2007 with vast experience of more than 35 years as an officer of IRSE. He has been attached with the most challenging projects on Indian Railways and the Company is confident that under his guidance, it will achieve new heights in performance in time to come.

Mr. S.P. Vatsa, Additional Member (Works) was appointed as part-time official director on the Board of RVNL w.e.f. 9th February, 2007. He has got rich experience of working on various projects and administrative assignments in a career span of around 34 years. The association of Mr. Vatsa with the management of the Company will definitely prove fruitful to the Company.

Mr. S. C . Agnihotri, an IRSE officer, assumed the charge of Director/Projects on the Board of RVNL on 4th July, 2007. He has got invaluable expertise and experience of more than 23 years of planning, construction, maintenance and corporate coordination at the top most levels in Indian Railways. RVNL being a project-oriented company will benefit immensely under his vision and guidance.

During the year, Mr. Vishwesh Chaubey relinquished the charge of Director/Projects of the Company on 4th September, 2006.

Mr. R. Sundararajan, Additional Member(Works) ceased to be a Director on the Board of RVNL due to his superannuation from Ministry of Railways w.e.f. 31st December, 2006.

Due to superannuation of Mr. R. R Jaruhar, Member Engineering/Railway Board, he ceased to be part-time official Chairman of RVNL w.e.f. 31st January, 2007.

The Board of RVNL would like to record their deep appreciation and gratitude for the services and guidance provided by all of them. The Directors would also like to express their thanks for their contribution in enhancing the esteem of the Company.

On the date of report, the strength of the Company is eleven Directors comprising of five functional directors including Managing Director, two part-time official directors including Chairman and four independent directors.

During April 2006 to March 2007, six meetings of the Board of Directors were held with two meetings in the quarter ended June 2006, one meeting in quarter ended September 2006, one meeting in quarter ended December 2006 and two meetings in quarter ended March 2007.

The following Directors joined Board of RVNL during financial year 2006-07.

Mr. S. K. Vij -- From 09.02.2007 onwards Member Engineering/ Rly Bd. & Chairman RVNL

Mr.S. P. Vatsa -- From 09.02.2007 onwards Addl. Member (Works)/ Rly. Bd. & (Part-time -official Director)

The following Directors joined Board of RVNL after the closure of financial year 2006-07.

Mr.S.C. Agnihotri -- From 04.07.2007 (FN) onwards Director/Projects

The Directors who ceased to hold the office during the financial year 2006-07:

Mr. R. R. Jaruhar -- Held office from 24.03.2005 to (Part-time official Chairman) 31.01.2007

Mr. Vishwesh Chaubey -- Held office from 24.11.2004 (AN) (Director/Projects) to 04.09.2006 (AN)

Mr. R. Sundararajan -- Held office from 02.12.2004 to (Part-time official Director) 31.12.2006

None of the Directors ceased to hold office after the closure of financial year 2006-07.

The following Directors are holding office as on the date of the report:-

1. Mr.S. K. Vij -- From 09.02.2007 onwards Member Engineering /Rly. Bd. &, Chairman/RVNL (Part-time official)

2. Mr.D.C.Mitra -- From 05.07.2006 (FN) Managing Director/RVNL onwards

3. Mr. A.K. Gulati, -- From 25.11.2004 (AN) Director (Personnel)/RVNL onwards

4. Mr. Ranjan K. Jain -- From 30.12.2004 (AN) Director (Operations)/RVNL onwards

5. Mr. Harish Chandra, -- From 11.03.2005 (AN) Director (Finance)/RVNL onwards

6. Mr. S. C. Agnihotri, -- From 04.07.2007 (FN) Director(Projects)/RVNL onwards

7. Mr. S.P. Vatsa, -- From 09.02.2007 AM(Works)/Rly. Bd. &, onwards Director/RVNL (Part-time official)

8. Mr. S. Murali -- From 04.10.2005 onwards (Part-time non-official Director)

9. Mr. D.P. Tripathi -- From 04.10.2005 onwards (Part-time non-official Director)

10. Dr. V.K. Koshy -- From 04.10.2005 onwards (Part-time non-official Director)

11. Dr. T.T. Ram Mohan -- From 04.10.2005 onwards (Part-time non-official Director)

10. AUDITORS

The Comptroller & Auditor General of India has appointed M/s Ellahi Goel & Co., Chartered Accountants as Statutory Auditors of the Company for the year ended 31st March, 2007. The Board would like to express its sincere thanks for the precious advice and guidance received from them during the audit of accounts under review.

11. ACKNOWLEDGEMENTS

We acknowledge the commitment, dedication, devotion and contribution of RVNL employees at all levels, which are the backbone of the Company, for their extra ordinary performance, which enabled the company to achieve substantive improvements in performance and results both physical and financial and also in achievement of targets most efficiently and ahead of time.

We take this opportunity to acknowledge the sincere appreciation and the unstinted assistance and co-operation from Ministry of Railways, Ministry of Finance, World Bank, Asian Development Bank, various banks, the Zonal Railways, RITES and IRCON. On this occasion, we would also like to place on record gratitude for all our distinguished predecessors.

The Directors also take this opportunity to express their thanks to the officials of Comptroller & Auditor General of India for their co-operation during the year under review.

For and on behalf of Board of Directors

Sd/- Sd/- (D.C.Mitra) (Harish Chandra) Managing Director Director/Finance

New Delhi Dt: 02. 08.2007