RVNL rises after JV bags LoA for contract worth Rs 252 cr in Gujarat

28 Mar 2023 CW Team

Rail Vikas Nigam (RVNL) rose 1.14% to Rs 65.40 after the company announced that the Rachana-RVNL joint venture (JV) had received the letter of acceptance (LOA) for a Rs 252.21 crore project in Gujarat.

The project scope includes the EPC upgrade to six lanes with a paved shoulder of the Sarkhej-Changodar Section of NH-SA (New NH-47) for the Ahmedabad-Bagodara-Rajkot road in Gujarat. (Package-7).

The project will cost Rs 252.21 crore. According to the agreement, Rachana Construction will own 60% of the project, while RVNL will own 40%.

The project is expected to take 30 months to complete.

Rail Vikas Nigam is in the business of completing all types of railway projects, such as new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, cable stayed bridge construction, institution buildings, and so on. The government owned 78.2% of the company as of December 31, 2022.

In Q3 FY23, the company reported a 30.5% increase in consolidated net profit to Rs 382.42 crore, up from Rs 293.01 crore in Q3 FY22. Revenue from operations fell slightly to Rs 5,012.09 crore in Q3 FY23, compared to Rs 5,049.24 crore in the same quarter last year.

Also Read
5,000 km highway stretch in Kerala, Karnataka, TN electrified by BPCL
Assam CM Sarma dedicates and launches projects worth Rs 5.45 billion

Infrastructure Transport

07 Apr 2026

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..

Gujarat Pushes Biogas Growth With 193 Operational Units

Gujarat has operationalised 193 biogas plants across the state and is planning to add 60 more units as part of a broader push to scale up clean and sustainable energy solutions. The existing plants, established under various government-supported schemes, process organic waste including cattle dung and agricultural residue to produce biogas and a nutrient-rich slurry. The output is mainly used for cooking and other energy needs in rural and semi-urban communities, while also improving local waste management practices. The Gujarat Energy Development Agency (GEDA) is leading the initiative and is..