A joint venture of Rail Vikas Nigam Ltd. has emerged as the lowest bidder for several construction projects worth Rs 543 crore for the Indore Metro Rail.
The contract, awarded to the RVNL-URC JV, involves part design and construction of an elevated viaduct, five elevated metro rail stations and a ramp for the Indore Metro Rail Project, according to an exchange filing issued on Monday.
The work is due to be completed in three years.
RVNL has a 51% stake in the JV, while the rest is held by Chennai-based URC Construction Pvt.
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