RITES consortium bags contract for Delhi Metro Project worth Rs 87.58 crore
Of the total tender value, the share of RITES is 49%, or approximately Rs 42.91 crore, including goods and services tax.
A RITES Ltd-led consortium has emerged as the lowest bidder in a tender floated by Delhi Metro Rail Corp Ltd and valued at Rs 87.58 crore.
"RITES Consortium emerges as the lowest bidder (L-1) in the tender floated by Delhi Metro Rail Corporation Limited for “Retrofit Work in RS-1 Trains of DMRC," the filing said.
Of the total tender value, the share of RITES is 49%, or approximately Rs 42.91 crore, including goods and services tax.
Read Also : The Importance of Early Detection and Community Support for Alzheimer’s Disease"The estimated value of the bid is Rs 87.58 Crore (approx.) including GST, wherein RITES share is 49% i.e. Rs 42.91 Crore (approx.) including GST," it added.
The consortium is required to execute the order within three years from the date of issuance of letter of award, RITES said in its filing.
The state-owned undertaking recently announced a 1:1 bonus share allotment and a final dividend of Rs 5 per share for eligible shareholders. The PSU's stock price has gained over 45% so far this year.
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