RITES Ltd. secures major Turnkey Railway Contract of Rs. 294.67 Crore.
Date: September 10, 2018
RITES has secured an additional work of Rs. 294.67 Crores from Ministry of Railways for doubling of Dharmavaram Penukunda rail lines (41.5 Kms) in South Western Railways. Earlier, RITES was awarded doubling work for 90.2 Kms of Dharmavaram Penukunda rail lines in South Central Railways for a cost of Rs. 666.38 Crores from Ministry of Railways.
The said work has been awarded to RITES on cost plus basis in which RITES will be paid fee at the rate of 8.5% of the cost of work.