Rail Vikas Nigam Ltd (RVNL) shares rallied 4.1 percent following its announcement of acquiring three significant orders worth INR 11,256 crores from Chennai Metro Rail Ltd (CMRL) on Wednesday, June 21.
Chennai Metro awarded RVNL the construction of various underground stations, including KMC (Kilpauk), Sterling Road JN, Nungambakkam, Gemlni (Anna Flyover), Thousand Lights, and Thousand Lights crossover box. Additionally, RVNL will be responsible for the construction works of two underground stations at Royapettah government hospital (Roy Apettah) and Chetpet Metro. The order, valued at INR 1,730.59 crore, is expected to be executed within 1,725 days.
The second order entails constructing four underground stations at Dr. Radhakrishnan Salai, ThirumaYilai, Mandaneli, and Adyar Junction, along with two cross passage shafts, one emergency escape shaft, and other associated works at Greenways Road’s underground station. This order amounts to INR 1,462 crore and has a projected timeline of 1,725 days.
Furthermore, RVNL secured a third order for building three underground stations at Adyar Depot, Indira Nagar, and Taramani Road Junction (Taramani), along with various wall and construction works excluding the Diaphragm wall of the underground station at Thiruvanmiyur. The order, valued at INR 865.6 crore, is set to be executed within 1,630 days.
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