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RITES signed pact to acquire 24% stake in Indian Railway Station Development Corporation

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RITES signs pact to acquire 24% stakeInfrastructure consultancy and engineering company RITES (Rail India Technical and Economic Service) has signed an agreement for acquiring 24% stake in Indian Railway Stations Development Corporation (IRSDC) for Rs 48 crore. IRSDC, a joint venture of Rail Land Development Authority (RLDA) and IRCON International is tasked with redeveloping railway stations across the country.

Work of RITES during lockdown:

-During the lockdown, the company delivered the 188 route kilometre Vijaypur-Pachore Road-Maksi section railway electrification project in Madhya Pradesh.

-Besides working from home on various reports, tenders and designing based projects, it continued its operations at most of the locomotive leasing sites and inspection office at Bhilai, Chattisgarh.

-Now, key project activities have been resumed at various sites like rail line doubling project at Gooty-Dharmavaram, railway electrification work in Rajasthan, project monitoring services at several rail connectivity work of power plants and coal mines, workshops modernization at Bikaner in Rajasthan, Kurdawadi in Maharashtra, Lumding in Assam, Sarla in Odisha, quality assurance work at various locations etc.

About RITES Ltd.

Chairman & Managing Director (CMD)– Rajeev Mehrotra
Headquarter– Gurugram, Haryana

About IRSDC:

Chairman– Vishwesh Chaube
Headquarter– New Delhi

About RLDA:

Chairman– Vishwesh Chaube
Headquarter– New Delhi

About IRCON International:

Chairman & Managing Director (CMD)– SK Chaudhary
Headquarter– New Delhi
Parent organization- Ministry of Railways