+
RITES Ltd Targets Vietnam and Beyond for International Consultancy
ECONOMY & POLICY

RITES Ltd Targets Vietnam and Beyond for International Consultancy

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

BMW Ventures Secures Rs 249.83 Million (mn) Steel Orders

BMW Ventures Limited said it has secured two purchase orders totalling Rs 249.83 million (mn) from Lata Projects Limited for the supply of TMT steel FE-550D grade for three units of 800 megawatt (MW) capacity at the USCTPP Adani project. The orders were disclosed to the stock exchanges under Regulation 30 of the SEBI Listing Regulations and carry a contract value inclusive of all taxes.\n\nThe company stated that the orders will be executed within eight weeks from the date of the purchase orders and that the contract provides for 100 per cent advance payment with specified guarantees. The supp..

Next Story
Real Estate

Housing Sales Dip in Top Eight Cities in Q2, Pune and Bengaluru Hit Hard

Housing sales across the top eight cities fell six point one per cent year-on-year to 91,729 units in the April-June quarter from 97,674 a year earlier, PropTiger’s Real Insight Residential report showed. The moderation reflected seasonal pre-monsoon effects and heightened buyer caution amid the US-Iran conflict. New launches rose six per cent to 89,161 units. The impact was concentrated in technology-driven markets, with Pune and Bengaluru among the hardest hit. Pune recorded the steepest annual decline at 20.8 per cent, with sales falling to 12,642 units, while Ahmedabad declined 20.2 per ..

Next Story
Infrastructure Urban

India And ADB Sign US$230 Million Loan To Modernise Chennai Water

The Government of India and the Asian Development Bank (ADB) signed a US$230 million loan to modernise and expand water supply and sanitation infrastructure in Chennai. Saurabh Singh, Deputy Secretary, Department of Economic Affairs (DEA), signed on behalf of the Government of India and Mio Oka, Country Director of ADB’s India Resident Mission, signed for the lender. The engagement was guided by Baldeo Purushartha, Joint Secretary (ADB and Japan), DEA. The Chennai Climate-Resilient Water Security and Sewerage Project aims to improve access to safe and reliable water and sanitation citywide w..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code