RITES, a leading transport infrastructure consultancy, and the Delhi Metro Rail Corporation (DMRC) have entered into a Memorandum of Understanding (MoU) to explore opportunities in metro projects across India and overseas.
What Happened: The railway firm signed the contract with Delhi Metro on Thursday in New Delhi, the company said in its press release. The partnership aims to provide services in general consultancy, project management, detailed design, feasibility studies, and more, as per the its statement.
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The alliance is set to tap into the urban transit system space, delivering high-quality solutions for both domestic and international projects. This collaboration aligns with RITES’ ongoing “RITES Videsh” initiative to expand its global footprint. Given DMRC’s extensive experience in metro rail operations and RITES’ proven expertise in transport infrastructure, both entities are well-positioned to pursue emerging opportunities.
On Tuesday, RITES bagged an international order from Tsiko Africa Logistics for the supply, commissioning and a one-year onsite warranty of overhauled in-service cape gauge 3,100-horsepower, diesel-electric locomotive. The contract, valued at $4.28 million (₹35.8 crore), is slated for execution over six months, the company said.
Price Action: RITES was down 3.43% ₹322.80 on Thursday afternoon.
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