RITES bags ₹47 crore turnkey contract for college infrastructure projects in Karnataka

Engineering firm, RITES Ltd, on Friday (July 11) said it has secured a turnkey contract worth ₹46.82 crore (excluding GST) for the construction and renovation of Government First Grade Colleges across various locations in Karnataka under the PM USHA Scheme.

The order was awarded by the Department of Collegiate and Technical Education (DCTE), Office of the Commissioner, Unnatha Shikshna Soudha, Seshadri Road, Bengaluru.

Originally considered on a Project Management Consultancy (PMC) basis, the project has now been converted into a turnkey model, which includes the total project cost along with RITES’ fees.

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The contract is to be executed over a period of 36 months from the date of agreement. The scope involves comprehensive construction and renovation work under the central government's PM USHA Scheme.

Last week, RITES announced two contract wins, one from an international entity and another through a domestic joint venture. The company received a purchase order from African Rail Company for the supply and commissioning of two fully overhauled Cape Gauge ALCO diesel-electric locomotives.

These locomotives, which will be deployed in Zimbabwe, Mozambique, and Botswana, are fitted with new Cape Gauge Bogies, Traction Motors, Control Systems, and Air Brake systems. The overhauled units will be supported with warranty services and technical team deployment from RITES. The order is valued at $3.6 million (CIF) and is expected to be executed within nine months.

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Separately, the RITES-Aryan joint venture has secured a Letter of Acceptance from South Western Railway for the redevelopment of Tumakuru Station. The scope includes civil works, signal and telecommunication systems, and electrical general services under an engineering, procurement and construction agreement.

Shares of RITES Ltd ended at ₹278.35, down by ₹2.05, or 0.73%, on the BSE.