RITES Limited has amended its Memorandum of Understanding with Neyveli Uttar Pradesh Power Limited (NUPPL), enhancing the contract value from Rs 120.13 crore to Rs 148.93 crore, excluding GST. The amendment was executed on June 25, 2026.
The revised scope adds hiring of locomotives on a wet-lease basis for in-plant movement and shunting of rakes at the NUPPL-GTPP Railway Siding. This locomotive hiring component will be for 48 months. The overall contract also covers operation and maintenance of the railway siding.
NUPPL is a joint venture of NLC India Limited, a Government of India enterprise, and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited. The contract has been awarded by a domestic entity. The order is to be executed over five years from the original MoU signed on February 13, 2025.
RITES has confirmed that the promoter, promoter group, or group companies have no interest in NUPPL. The transaction is not a related party transaction. The contract value enhancement covers the additional locomotive hiring scope added through the amendment.
RITES had initially informed the exchanges of the MoU with NUPPL on February 13, 2025. The amendment adds the railway siding operation and maintenance and locomotive hiring to the scope of the original agreement.
The contract is for the NUPPL-GTPP Railway Siding, which serves the thermal power plant operated by NUPPL. RITES will handle operation and maintenance of the siding infrastructure along with providing locomotives on wet lease for shunting operations.
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