RITES Secures $35.8 Million South Africa Locomotive Order

Key Quantitative Figures

The order value is USD 35,820,000 (US Dollars Thirty-Five Million Eight Hundred and Twenty Thousand).

Time Period

The order is to be executed within 20 months from contract signing.

Parties Involved

The order has been awarded by Volantis Asset Finance (Pty) Ltd., South Africa, an international entity. RITES Limited is the recipient of the order.

Nature of Order

The contract involves "Supply and Commissioning of 4000 HP Cape Gauge Diesel Electric Locomotives". This is an international order.

Significant Terms and Conditions

The acceptance of offer has been received. The formal Contract Agreement will be signed after completion of due diligence processes at both ends. Only after the contract signing will the order be added to RITES's order book.

Related Party Considerations

The promoter/promoter group/group companies do not have any interest in Volantis Asset Finance (Pty) Ltd. This order does not qualify as a related party transaction.