Railway company RITES to expand global footprint
Live MintNew Delhi: State-run railway engineering and consulting company RITES Ltd proposes to expand its global footprint by targeting export orders for its rolling stock and consultancy business from South East Asia, Africa, West Asia and Latin America. Having won global tenders for ₹1,200 crore to supply coaches and locos to Bangladesh and Mozambique, RITES is now bidding for tenders for rolling stock supplies, consultancy operations and quality assurance businesses across regions, Mithal said. “Export orders along with diversification of the quality assurance business where we have secured more non railway orders, have placed RITES on the right track which the company intends to capitalise in the current financial year,” he added. Read | India's electronics, pharma, engineering goods exports beat global trade slowdown during FY24 Mithal said the international consultancy is an important focus area under company’s strategic initiative called Rites Videsh and it is getting scaled up with the addition of newer geographies and wider range of work including train services, metro, highway, bridges, green projects etc.
History of this topic
Rites share price jumps 13% after Northeast Frontier Railway boosts project estimates to ₹531.77 crore
Live Mint
RITES sets sights on Africa for export of refurbished and underutilized railway diesel locos
Live Mint
RITES looks to increase exports to boost order book and profit margins
The HinduDiscover Related
)
