RVNL rises after JV bags LoA for contract worth Rs 252 cr in Gujarat
Rail Vikas Nigam (RVNL) added 1.14% to Rs 65.40 after the company said that Rachana -RVNL joint venture (JV) has received letter of acceptance (LOA) for a project aggregating to Rs 252.21 crore in Gujarat.
The scope of the project entails upgradation to six lane with paved shoulder of Sarkhej-Changodar Section of NH-SA (New NH-47) for Ahmedabad-Bagodara-Rajkot road on EPC mode in the state of Gujarat, (Package-7).
The cost of the project is Rs 252.21 crore. According to the deal, Rachana Construction will hold 60% of the share while RVNL share will be 40% in the project.
The project is expected to be completed within 30 months.
