RITES Wins Rs 1.71 Billion Mozambique Locomotive Order

30 Jan 2026 CW Team

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.

Real Estate

02 Feb 2026

Union Budge: Infra-Led Urban Shift

The Union Budget FY27 reinforces infrastructure-led urbanisation as the backbone of India’s real estate and housing growth. Higher public capital expenditure, City Economic Regions, risk-mitigation mechanisms and REIT-led asset monetisation are being widely viewed as long-term enablers, even as the industry continues to seek sharper supply-side reforms and affordability-focused measures. Here are a few industry insights:Dr Niranjan Hiranandani, Chairman, NAREDCO & Hiranandani Group“The Union Budget 2026-27 is growth-oriented and stability-focused, supporting consumption and aiming to s..

Budget 2026 Charts Path for Infrastructure-Led, Tech-Driven Growth

The Union Budget 2026–27 signals strong continuity in India’s macroeconomic strategy, anchored in elevated public capital expenditure, fiscal discipline, and a sharper focus on manufacturing, infrastructure, and regional development. With capital outlay pegged at ₹12.2 lakh crore and a fiscal deficit target of around 4.3 per cent, the Budget balances growth ambition with stability, offering long-term visibility to investors and project developers.A dominant theme is the centrality of infrastructure as a multiplier for economic expansion. Public capex now accounts for over 3.3 per cent of..

Tata Power Arm Crosses 10 GW EPC Milestone

Tata Power Renewable Energy Ltd (TPREL) has achieved a major milestone by executing 10 gigawatts of engineering, procurement and construction (EPC) renewable energy projects to date, reinforcing its position in India’s clean energy infrastructure sector. According to the company, the executed portfolio comprises 4.2 gigawatts of in-house projects and 5.8 gigawatts of third-party projects. Of the total 10 gigawatts commissioned so far, 9.7 gigawatts are solar projects and 290 megawatts are wind projects. In the first nine months of FY26, TPREL commissioned 1.88 gigawatts of EPC renewable en..