The long-awaited suburban train network for Bengaluru especially in the congested Outer Ring Road areas of the city is soon going to be a reality. And if the pre-feasibility report by the Rail India Technical and Economic Service (RITES)
The Railways Energy Management Company Limited (REMCL), a joint venture of Indian Railways and RITES Limited, has invited bid for the setting up of 50 MWp solar project on railways land at Bhilai, Chhattisgarh under tariff based competitive bidding.
State-owned railway consultancy firm RITES listed at Rs 190 on the NSE on Monday, a 2.7 per cent premium over the issue price of Rs 185. On the BSE too, the stock was listed at the same price.
The government will kick-start its divestment plans for the current financial year with the initial public offering (IPO) of RITES Ltd, which will open for subscription on 20 June.
Transport infrastructure consultant RITES Ltd. will buy one-third stake worth Rs 250 crore in state-run peer tasked with development of railway stations — Indian Railway Stations Development Corporation Ltd.
Looking forward to give a major fillip to the railway infrastructure development, the Centre is all set to divest 12 per cent stake through IPO (Initial Public Offer) in the RITES, a PSU of the Railway Ministry.
The year 2017 saw 36 companies collectively raising a record over Rs 67,000 crore via IPOs.
A day after railway employees protested the decision to convert the UNESCO-listed Chhatrapati Shivaji Maharaj Terminus (CSMT) into a rail museum, the Railways went a step ahead and invited architects and consultants to present designs for the proposed museum.
The Centre may list Hindustan Aeronautics (HAL), RITES and Indian Railway Finance Corporation (IRFC) to raise about Rs 5,200 crore this fiscal, even as disinvestment via the initial public offering route has touched a record high this year.
The city’s ambitious suburban rail project is on track. The Rail India Technical and Economic Service (RITES) is expected to submit a detailed project report (DPR) in three to four months.