RITES Signs MoU With NHPC For Rail Infra Consultancy Works In Arunachal Pradesh

RITES Ltd., a Transport infrastructure consultancy and engineering firm, has signed an agreement with the state-owned hydropower company NHPC Ltd. for Rail Infra Consultancy Works, dated August 21. The agreement will encompass for construction of new railway siding for the 2,880 MW Dibang multipurpose project (MPP) in Arunachal Pradesh, India.

"This collaboration will encompass consultancy services for new rail connectivity, logistics and allied infrastructure, including Rapid Loading Systems (RLS/SILO) and conveyor systems, at Pasighat for NHPC's 2880-MW Dibang Multipurpose Project (MPP) in Arunachal Pradesh," the company statement said.

Mr. Pawan Chowdhry, Vertical Head, RITES, said, "The strategic partnership between RITES and NHPC complements the expertise of both organizations. Leveraging its core strength, RITES, as a Project Management Consultant, will provide comprehensive and efficient solutions for developing Rail Infrastructure and allied facilities for NHPC. We look forward to a long and fruitful association."

RITES and NHPC, with their complementary strengths and expertise, are poised to create significant impact to the growth of India's infrastructure and energy landscape.

Shares of RITES on Thursday opened at Rs 474.95 apiece on BSE. Currently trading at Rs 472.50 apiece, up 0.10%. It gained 3.19% in the last 1 week. In 1 year, it gained 69.03%.

Meanwhile, the shares of NHPC today opened at Rs 50.95 apiece on BSE, currently trading at Rs 51.31 apiece, up 1.54%. The stock has gained 3.38% in the last 1 week. In the last 1 year, it gained 51.12%.