RITES goes green with new vertical
NEW DELHI : State-run railway engineering and consulting company RITES Ltd has launched a new vertical to provide consultancy support to companies looking to enter electric, hydrogen or renewable fuel-based mobility operations. The state-run company is also exploring consulting and certification services in South-east Asia, Africa and Latin America as also rolling stock export options in neighbouring countries to boost its export revenue which had fallen to mere ₹1 crore by the end of the September quarter.
“We have just formed a new green mobility vertical that has come into existence on 1 November. This will provide consultancy in all areas of green mobility—EVs, hydrogen etc.
We will consolidate in this vertical in the coming months and quarter so that it starts generating revenue for us in the coming fiscal," RITES chairman and managing director Rahul Mithal said in an interview. RITES had already launched a sustainability vertical at the beginning of the year which has started getting orders in solid waste management, Swachh Bharat Mission (from the ministry of housing and urban development) and clean air programme.
Mithal said RITES will continue to build this vertical and expects more orders in the coming months. Mithal said RITES’ export order book which had dried up in the covid years and remains thin at the end of the second quarter is set to see a major jump in the coming months as the company closes in on contracts worth ₹1,500 crore to supply locomotives and wagons to Mozambique and Bangladesh.
The state-run company has emerged as the lowest-cost bidder in a global tender for supplying 200 railway coaches to Bangladesh and 10 diesel locos and 300 wagons to Mozambique. Mithal said that apart from these two
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