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The order comprises planning, design and construction of main canal and structures including associated distribution system to provide irrigation facility to an area of 41,903 hectares through piped irrigation network for upper high-level canal of Mahi Bajaj Sagar Project in Banswara, Rajasthan on engineering, procurement and construction (EPC) single responsibility on a turnkey basis, including 10 years of operation and maintenance.
The project costs Rs 2248.95 crore and is divided between RVNL and SCC, with RVNL owning 51% of the project and SCC owning 49%.
Meanwhile, RVNL was recently accorded with the status of 'Navratna' central public sector enterprise (CPSE) by the Finance Ministry.
RVNL is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc. As of 31 December 2022, the Government held 78.2% stake in the company.
In Q3 FY23, the company's consolidated net profit increased by 30.5% to Rs 382.42 crore compared to Rs 293.01 crore in Q3 FY22. However, revenue from operations slightly decreased to Rs 5,012.09 crore from Rs 5,049.24 crore in the same quarter last year.
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