RITES secures ₹105.69 crore rail maintenance deal from RDSO.

RITES Limited has secured a comprehensive railway maintenance contract worth ₹105.69 crore (excluding GST) from the Research Designs and Standards Organisation (RDSO), Lucknow, the company said in a regulatory filing to stock exchanges recently under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

The contract entails maintenance of a dedicated test track between Gudha and Thathana Mithri stations in the Jodhpur division of North Western Railway. The agreement will run for a period of 60 months from the date of issuance of the Letter of Acceptance (LOA).

RITES clarified that the order is a domestic contract awarded by a government entity. It added that as the transaction is between a government organisation and a government-owned company, considerations related to related-party transactions at arm’s length are not applicable.