Mumbai (Business Desk): Patel Engineering Limited (the Company) has signed a Memorandum of Understanding (MOU) with Rail Vikas Nigam Limited (RVNL), a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Railways, Government of India, which works as the construction arm of the Ministry of Railways. The MOU, marks the beginning of a strategic partnership aimed at jointly executing projects in the field of hydro and other infrastructure projects both within India and internationally.
The agreement outlines a framework for collaboration between the Company and RVNL to leverage e
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Joint Project Execution: The Company and RVNL will collaborate on certain identified hydro and other infrastructure projects as opportunities arise. This partnership will combine Company’s extensive infrastructure experience with RVNL’s expertise in rail
and transport infrastructure. -
Flexible Collaboration Models: The parties have the flexibility to participate in tenders and project bids either jointl
y or separately. When bidding together, both entities will align on the bidding strategy, structure, and terms of the collaboration, ensuring a unified approach to project execution. -
Focused Efforts for Synergies: The MOU emphasizes creating an enabling framework to achieve synergies in hydro and other infrastructure domains, reflecting a shared commitment to high standards of project delivery and excellence.
