Corporate News 07-Sep-18
Rites secures additional work worth Rs 294.67 cr from Railways
Rites has secured an additional work of Rs. 294.67 crore from Ministry of Railways for doubling of Dharmavaram Penukunda rail lines (41.5 Kms) in South Western Railways. Earlier, Rites was awarded doubling work for 90.2 Kms of Dharmavaram Penukunda rail lines in South Central Railways for a cost of Rs. 666.38 crore from Ministry of Railways. The said work has been awarded to the company on cost plus basis in which it will be paid fee at the rate of 8.5% of the cost of work.
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