RITES Limited has executed an amendment to the Memorandum of Understanding (MoU) with Neyveli Uttar Pradesh Power Limited (NUPPL), expanding the scope of their existing agreement. The amendment includes hiring of locomotives on a wet-lease basis for in-plant movement and shunting of rakes at NUPPL-GTPP Railway Siding.
Contract Details
- Counterparty: Neyveli Uttar Pradesh Power Limited (NUPPL), a joint venture of NLC India Limited (Government of India Enterprise) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (Government of Uttar Pradesh Enterprise)
- Nature of Work: Comprehensive Operation & Maintenance of NUPPL/GTPP Railway Siding and hiring of locomotives on a wet-lease basis
- Contract Duration: 48 months for the wet-lease component, within the overall 5-year term from the original MOU entered on February 13, 2025
- Domestic/International: Domestic entity
Financial Considerations
- Original Contract Value: ₹120.13 Crores
- Revised Contract Value: ₹148.93 Crores (excluding GST)
- Value Enhancement: ₹28.80 Crores increase due to scope expansion
Corporate Governance Aspects
- Promoter/Group Interest: No interest by promoter/promoter group/group companies in the entity that awarded the contract
- Related Party Transaction: Not a related party transaction
- Arm's Length Basis: Confirmed as not being a related party transaction