Rail Vikas Nigam Limited enters into MoU with NHAI

Rail Vikas Nigam Limited (RVNL) has entered into a MoU with NHAI represented by National Highways Logistics Management Limited (NHLML), in connection with Construction of Multi Modal Logistics Parks across PAN India under Bharatmala Pariyojana. Given the objectives of improving logistics efficiency for goods generating and aggregating from ports, hinterland and for the Country as a whole, RVNL and NHLML agreed to co-operate and collaborate with each other in achieving the objectives for development of MMLP Project in an integrated manner. Role of RVNL will be for the design, planning, feasibility study, DPR, implementation and commissioning of the track connectivity work for MMLPs.

Separate MoUs and Agreements shall be drawn at appropriate stage for each MMLP which are planned at 35 locations in the Country. The idea is to provide state-of-the-art, large-scale warehousing facilities for different type of commodities by forming project specific SPV(s) on a "Hub and Spoke Model". This umbrella MoU shall be valid for five years and is extendable.

Shares of Rail Vikas Nigam Limited was last trading in BSE at Rs. 31.4 as compared to the previous close of Rs. 29.35. The total number of shares traded during the day was 2333268 in over 7702 trades.

The stock hit an intraday high of Rs. 32.35 and intraday low of 29.3. The net turnover during the day was Rs. 71903810.

Source : Equity Bulls

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