Financial Wire

Rail Vikas Nigam Emerges L1 Bidder for East Coast Railway Project Worth INR9.68 Billion; Shares up 3%

-- Rail Vikas Nigam (NSE:RVNL, BOM:542649) has emerged as the lowest bidder (L1) for an East Coast Railway project worth 9.68 billion Indian rupees, according to an Indian bourse filing on Thursday.

Shares of the company rose over 3% in Friday's trade.

The project involves third and fourth line construction between Nergundi-Barang and Khurda Road-Vizianagaram section and covers construction of multiple major bridges on the Bhadrak-Vizianagaram section on an EPC basis, the filing said.

The project is scheduled to be completed in three years, it added.

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