Rail Vikas Nigam Ltd. on Wednesday secured a contract worth Rs 1,200 crore from Northern Railway for building a bridge over the Ganga river. The construction has to be completed within four years.
The project involves the design and construction of a new rail‑cum‑road Bridge No. 11 over the Ganga, located 50 metres downstream from the existing Malviya Bridge near Kashi Railway Station. The scope includes building the bridge's substructure and superstructure to accommodate four railway tracks on the lower deck and a six‑lane road on the upper deck, according to a stock exchange filing.
It also covers the development of both railway and road approaches as per the approved General Arrangement Drawing (GAD), along with associated OHE works and general electrical works within the Lucknow Division of the Northern Railway at Varanasi.
The project will be executed through a joint venture with GPT Infraprojects Ltd., which owns 40%.
State-owned RVNL has a consolidated order book of Rs 87,000 crore as of December, which includes railway nomination works of Rs 40,000 crore, and Rs 47,000 crore of work on bidding, company executives told analysts during a post-earnings concall.
"In the next three years, we already have almost Rs 40,000 crore of railway works. So our first focus is to complete those works within next three years. So that will bring us the income of almost Rs 10,000 crore to Rs 11,000 crore per annum. And parallelly, we will be focusing on getting new works on bidding," said Chairman and Managing Director Saleem Ahmad.
Shares of RVNL closed flat at Rs 308.7 apiece on the NSE, compared to a 0.3% rise in the benchmark Nifty. The stock is down 7% in the last 12 months.
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