RITES Strengthens Order Pipeline with $35.82 Million South Africa Deal and ₹175.41 Crore Domestic Project
RITES Ltd has continued to expand its order book with two significant project wins in both international and domestic markets. The company has received acceptance of its offer from South Africa-based Volantis Asset Finance (Pty) Ltd for the supply and commissioning of 4,000 HP Cape Gauge diesel-electric locomotives, with the contract valued at $35.82 million.
The project is expected to be executed over 20 months, and the order will be added to RITES' order book once the agreement is signed following due diligence by both parties. The company also clarified that the contract is not a related-party transaction. Earlier, RITES secured a ₹175.41 crore project management consultancy (PMC) contract from Babasaheb Bhimrao Ambedkar University (BBAU) for planning, designing and developing infrastructure facilities on its campus.
The project, awarded on a cost-plus PMC fee basis, will be executed over 30 months from the date of signing of the agreement or until completion of the assigned work. These orders highlight RITES' growing presence across railway engineering, infrastructure development and international markets, while providing improved revenue visibility through a diversified project pipeline.