RITES Limited has informed the Exchange about receiving of major order from African Rail Company
RITES · price
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Awaiting price reaction for this filing.
RITES Limited has secured a purchase order from African Rail Company, an international client, for the supply and commissioning of 2 fully overhauled ALCO diesel-electric locomotives. These Cape Gauge locomotives, fitted with new bogies, traction motors, and control systems, will be deployed in Zimbabwe, Mozambique, and Botswana. The total order value is 3.6 million USD (CIF basis), which is approximately ₹30 crore, with a 9-month execution timeline. The order is not a related-party transaction and involves no promoter interest in the awarding entity. RITES will also provide warranty support and depute its technical team for the project.
This is a modest but positive export win for RITES, adding to its international order book and reinforcing its presence in the African railway market. At ~₹30 crore, the order is small relative to RITES' overall revenue, so the stock price impact is likely limited, though it supports the company's export diversification narrative.