RITES Ltd has secured a major international order from ICVL Mozambique for the supply and maintenance of diesel electric locomotives, reinforcing its overseas order book and global presence in railway infrastructure.

In a regulatory filing, the company said it received a Letter of Intent for the supply of new Cape Gauge diesel electric locomotives, along with preventive maintenance services and consumable spares at site. The total value of the order is about Rs 1.71 billion.

Under the contract terms, the supply of locomotives will be completed within 15 months, while maintenance services will be provided over a 24-month period. The order adds to RITES’ expanding international project portfolio and highlights its capabilities in railway equipment supply and lifecycle maintenance across global markets.

In December, RITES had also secured a contract valued at about Rs 0.30 billion from Berhard Development Corporation (Private) Ltd, Zimbabwe, for the supply of in-service Cape Gauge diesel electric locomotives, further strengthening its footprint in Africa.

In the equity market, shares of the state-owned company were trading at Rs 216.90 at 10:59 am, down 0.41 per cent from their opening price. The stock has declined 11.48 per cent over the past month.