RITES Secures $3.6M Locomotive Supply Order from Zimbabwe
Filing Summary
RITES Ltd has secured a significant order valued at USD 3,600,000 from Berhard Development Corporation (Private) Limited, Zimbabwe. The order involves the supply of In-Service Cape Gauge Diesel Electric Locomotives. This international contract is set to be executed within a three-month period. There is no involvement of related parties in this transaction, and it does not constitute a related party transaction. This development was disclosed in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
RITES Ltd has announced the receipt of a Letter of Award for the supply of In-Service Cape Gauge Diesel Electric Locomotives from Berhard Development Corporation (Private) Limited, Zimbabwe. The order is valued at USD 3,600,000 and is classified as an international transaction.
The order specifies the supply of locomotives within a period of three months. The transaction does not involve any related parties, and it is confirmed that it is not a related party transaction. This information was disclosed in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The order from Berhard Development Corporation (Private) Limited marks an international engagement for RITES, emphasizing its role in the supply of railway equipment. The transaction involves the delivery of Cape Gauge Diesel Electric Locomotives, which are designed for specific railway gauge requirements prevalent in certain regions.
Berhard Development Corporation (Private) Limited is engaged in infrastructure development projects. The company focuses on enhancing transportation and logistics capabilities within Zimbabwe and potentially other regions. The order placed with RITES aligns with their strategic initiatives to improve railway infrastructure.
RITES Ltd is a leading engineering consultancy company specializing in the transport infrastructure sector. The company provides comprehensive services from project consultancy to the supply of rolling stock. RITES continues to expand its international footprint by securing contracts that leverage its expertise in railway systems and infrastructure development.