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RITES Bags $20.6 Million International Order from ICVL Mozambique for Locomotives
RITES Limited has secured a significant international contract from ICVL Mozambique valued at approximately USD 20.6 million. The order involves the supply of New Cape Gauge Diesel Electric Locomotives and includes a provision for preventive maintenance services. The supply phase is expected to be completed within 15 months, while the maintenance services will span 24 months. This win strengthens RITES' international presence and provides healthy revenue visibility for its export segment.
Key Highlights
Total order value of USD 20,602,500 (approx. ₹172 crore) from ICVL Mozambique.
Scope includes supply of locomotives and 24 months of preventive maintenance services.
Supply execution timeline set at 15 months from the date of order.
International contract win enhances the company's export order book and global footprint.
💼 Action for Investors
Investors should view this as a positive development for RITES' high-margin export business. The stock remains a strong play on railway infrastructure and international consultancy exports.