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RVNL and Patel Engineering have signed an MoU to collaborate on hydro and infrastructure projects domestically and internationally. This strategic alliance leverages their expertise, enhancing synergies and expanding project opportunities in the infrastructure sector.
Rail Vikas Nigam Limited (RVNL), a Navratna public sector enterprise, has signed a Memorandum of Understanding (MoU) with Patel Engineering Limited. This strategic partnership aims to explore and execute hydro and infrastructure projects both in India and abroad, combining the strengths and capabilities of both companies.
The MoU allows RVNL and Patel Engineering to collaborate on selected hydro and infrastructure projects as they emerge. This partnership will merge Patel Engineering’s extensive experience in infrastructure development with RVNL’s proficiency in rail and transport infrastructure, enhancing project execution standards.
The agreement provides flexibility in project participation, enabling both parties to bid either jointly or independently, depending on the project scope. This arrangement allows the companies to develop cohesive bidding strategies, ensuring optimal terms and structure for each opportunity.
The MoU highlights the commitment to create a collaborative framework that enhances synergies in the hydro and infrastructure sectors. By leveraging each other's expertise, the partnership aims to deliver high standards of project execution and operational excellence.
Patel Engineering share price closed at ₹53.70 on Thursday, down 1.88%. Over the past year, the stock has declined by 5.87%.
RVNL share price ended almost flat at ₹578.15 on Thursday, marginally down by 0.0086%. However, over the last 12 months, RVNL’s share price has surged impressively by 349.92%.
The collaboration between RVNL and Patel Engineering represents a strategic step towards expanding their project portfolios in the hydro and infrastructure sectors. By pooling their resources and expertise, the two companies are positioned to seize emerging opportunities and drive sectoral growth.
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