State-owned RITES Ltd, a key player in the engineering and transport consultancy sectors under the Ministry of Railways, has set its sights on expanding its international consultancy services, with a particular focus on markets like Vietnam. The announcement was made by RITES Ltd's Chairman and Managing Director (CMD), Rahul Mithal, during an event on Tuesday.
Mithal emphasized the significance of international consultancy as a pivotal focus area for the company's growth strategy. He highlighted the establishment of 'RITES Videsh,' a strategic initiative aimed at enhancing the company's global presence and performance metrics.
Under RITES Videsh, we are intensifying our efforts in international consultancy and refining our approach to better account for revenue and margins generated from this segment, Mithal stated.
He underscored the importance of strategic partnerships, citing the Memorandum of Understanding with Abu Dhabi port as a significant milestone towards realizing their international expansion goals.
In addition to consultancy services, Mithal outlined the company's involvement in diverse sectors such as metro development, airports, highways, and institutional buildings. He revealed ongoing projects including consultancy for the Gwalior airport and the provision of engineering services for the augmentation of airports in Mangalore and Lucknow.
Our focus extends to sectors like metro development, where we see immense growth potential. We are also actively engaged in projects involving institutional buildings, such as the new block of IIT Delhi, Mithal added.
He further mentioned the Odisha government's interest in commissioning RITES Ltd for the detailed project report (DPR) of new airports, indicating a broader spectrum of opportunities in the aviation sector.
With a strategic approach towards international expansion and a diverse portfolio of projects both domestically and internationally, RITES Ltd continues to solidify its position as a leading player in the global engineering consultancy domain.
