RITES, PFC sign MoU to foster collaboration in Transport & Logistics and other infra sectors

RITES Ltd, a prime transport infrastructure consultancy and engineering firm, has signed a memorandum of understanding (MoU) with Power Finance Corporation (PFC) to explore avenues of mutual collaboration for consultancy works in sectors such as Transport & Logistics, Energy, Water & Sanitation, Communication, Social and Commercial Infrastructure.

As part of the MoU, RITES will provide expertise for Pre-Feasibility Reports, Detailed Project Reports, Transaction Advisory, Project Management services, Audits, and Inspection, where PFC and its subsidiaries propose to provide financial assistance for infrastructure projects in India and abroad.

The MoU will establish a working relationship between the parties targeting specific requirements and will facilitate the development of proposals, including exploring opportunities at various Government/Semi-Government/autonomous bodies or authorities/private entities and multilateral funding agencies such as World Bank, Asian Development Bank and JICA.

Mr. Manobendra Ghoshal, Chief Strategy Officer, RITES, said, "The partnership with PFC will not only provide a platform to explore business opportunities in the Consultancy domain but also facilitate knowledge sharing in developing Infra4Future."

Shares of RITES Limited was last trading in BSE at Rs. 385.10 as compared to the previous close of Rs. 373.85. The total number of shares traded during the day was 68320 in over 2476 trades.

The stock hit an intraday high of Rs. 386.55 and intraday low of 368.90. The net turnover during the day was Rs. 25978430.00.

Source : Equity Bulls

Keywords

RITES INE320J01015 MOU PFC