The orders comprise a service support & procurement management contract valued at approximately Rs 524.99 crore and an erection work contract worth around Rs 170.19 crore. Both contracts are expected to be executed over a 20-month period.
The company said the contracts focus on service support, procurement management, and erection work to enhance distribution infrastructure and reduce losses. Salasar Techno Engineering confirmed that neither its promoters nor promoter group have any interest in RVNL, and the contracts are not related-party transactions.
Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
Shares of Rail Vikas Nigam shed 0.26% to Rs 322.75 on the BSE.