Rail Vikas Nigam (RVNL) rose 2.10% to Rs 64.23 after the TTIPL-RVNL consortium was named the lowest bidder (L1) for a Rs 1,271.99 crore National Highway Authority of India (NHAI) project. The project costs Rs 1,271.99 crore, with Tracks & Towers Infratech (TTIPL) owning 51% and RVNL owning the remaining 49%. The project scope includes a six-lane Greenfield Varanasi-Ranchi-Kolkata highway from Sonepurbigha village to the junction with NH-22 (Chatra Bypass) near Chatra as part of the Bharatmala Pariyojana in the state of Jharkhand on a hybrid annuity mode (Package-8).
The project is expected to be completed in two years, according to the PSU company. Meanwhile, the civil construction company announced on Friday that it was the lowest bidder (L1) for the composite contract package for the Haryana Orbital Rail Corporation (HORC) project’s new BG Railway Line. The project will cost Rs 1,088.49 crore and is expected to take 1,460 days to complete. Rail Vikas Nigam is in the business of completing all types of railway projects, such as new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, cable stayed bridge construction, institution buildings, and so on. The government owned 78.2% of the company as of December 31, 2022.