Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015- Receipt of LOA from National Mineral Development Corporation (NMDC)
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Rail Vikas Nigam Limited (RVNL) has received a Letter of Award from National Mineral Development Corporation (NMDC), a Government of India enterprise, for the development of a township in Kirandul, Chhattisgarh. The project is valued at Rs. 371.69 Crore (inclusive of all taxes) and is to be executed over 21 months. The order has been awarded by a domestic entity, is in the normal course of business, and is not a related party transaction. No promoter or group company has any interest in NMDC.
This is a routine order win worth Rs. 371.69 Crore from a government PSU, adding to RVNL's order book. The size is modest relative to RVNL's overall scale, so the impact on the stock is likely to be limited but positive, reinforcing its position in infrastructure and township development projects.