RITES signs MoU with NEEPCO for consultancy works

RITES Ltd., a prime transport infrastructure consultancy organisation, today signed an MoU with North Eastern Electric Power Corporation Limited (NEEPCO) to collaborate on consultancy works for strengthening logistical infrastructure at various hydropower stations in the region, including the Siang Basin.

To enhance the power infrastructure in the region, the Arunachal Pradesh Government has entrusted NEEPCO for executing five hydropower projects in the Siang Basin. As per the MoU, RITES will also support NEEPCO as a Project Management Consultant for works related to rail infrastructure facilities, including signalling & telecommunications, overhead equipment, and conveyor systems. Also, the MoU entails works related to roads, buildings and other civil ancillary structures, including utilities.

The collaboration underscores RITES' commitment to advancing sustainable infrastructure by leveraging its core expertise of consultancy. The company is looking forward to working in synergy with NEEPCO and support their endeavour of increasing access to clean energy.

Shares of RITES Limited was last trading in BSE at Rs. 486.95 as compared to the previous close of Rs. 484.75. The total number of shares traded during the day was 50318 in over 2022 trades.

The stock hit an intraday high of Rs. 494.70 and intraday low of 480.10. The net turnover during the day was Rs. 24580557.00.

Source : Equity Bulls

Keywords

RITES INE320J01015 MoU NEEPCO