New Delhi: State-run infrastructure firm Rail Vikas Nigam Limited (RVNL) has won two major construction contracts from National Mineral Development Corporation (NMDC) worth a combined ₹1,333.20 crore. The projects involve building residential towers at NMDC’s iron ore mining complexes in Bacheli, Chhattisgarh, with a 34-month execution timeline.
Project Details and Scope
The contracts cover two separate NMDC sites:
- Iron Ore Deposit-5
- Contract Value: ₹796.80 crore
- Scope: Construction of residential towers
- Execution Period: 34 months
- Contract Value: ₹796.80 crore
- Iron Ore Deposit-10/11A
- Contract Value: ₹536.40 crore
- Scope: Construction of residential towers
- Execution Period: 34 months
- Contract Value: ₹536.40 crore
The projects are aimed at providing modern residential facilities for NMDC’s workforce at its mining operations.
Read also: RVNL Secures ₹270 Crore EPC Contract from Central Railway for Daund–Solapur Electrification Project
Regulatory Compliance and Transparency
RVNL confirmed that:
- The contracts are not related party transactions.
- The promoter or promoter group has no interest in the awarding entity.
This ensures compliance with SEBI Listing Obligations and Disclosure Requirements (LODR) and maintains transparency in the procurement process.
Strategic Significance
- The new contracts strengthen RVNL’s portfolio beyond railway infrastructure, expanding its footprint in construction and urban development.
- With a 34-month execution timeline, the projects are expected to provide steady revenue visibility and contribute positively to RVNL’s order book over the next three years.
- The residential towers will support NMDC’s employees, enhancing operational efficiency at its Chhattisgarh mining complexes.
About RVNL
Rail Vikas Nigam Limited is a public sector undertaking (PSU) under the Ministry of Railways, Government of India, specializing in rail infrastructure development and allied construction services. Over the years, RVNL has diversified into non-rail projects, leveraging its expertise in large-scale infrastructure and construction.
