The Department of Public Enterprises on Monday granted the status of Navratna to the Rail Vikas Nigam Limited (RVNL), the company said in a filing. In India, Navratna companies are those state-controlled firms that can receive investments up to a value of Rs 1,000 crore. With RVNL, India now has 15 Navratnas. It includes companies like Hindustan Aeronautics Ltd, Bharat Electronic Ltd and Oil India Ltd.
RVNL mostly works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management, etc.
