RITES and HPCL Ink MoU to Enhance Railway Siding Infrastructure for Petroleum Products
RITES Ltd., a leading transport infrastructure consultancy and engineering company, has signed a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation Limited (HPCL). This agreement aims to strengthen rail-based logistics infrastructure across HPCL facilities by supporting the development of new railway sidings, improved rail connectivity, and the upgradation of existing infrastructure.The partnership involves RITES providing end-to-end consultancy services for railway siding projects. These services will span from concept realization to final commissioning.
Under the MoU, the scope of work assigned to RITES includes feasibility studies, final location surveys, detailed project reports (DPRs), and detailed engineering consultation. The services also encompass project management consulting, construction supervision, and coordination with Indian Railways for obtaining statutory approvals.
The collaboration is intended to enhance logistics efficiency within the sector by leveraging RITES' expertise in railway infrastructure and project management. This effort supports HPCL’s ongoing infrastructure development initiatives at its facilities.
RITES Ltd., a Navratna Public Sector Enterprise, has an operational experience spanning 52 years in the transport consultancy and engineering sector in India. The company maintains a diversified service portfolio and has undertaken projects across more than 55 countries, including regions in Asia, Africa, Latin America, and the Middle East.
RITES Stock Price Movement
RITES Limited shareholders saw their stock climb on Friday, as the equity settled at ₹234.24, edging up 1.20%. The shares finished near the top of the day's trading range, which stretched from a low of ₹228.4 to a high of ₹234.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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