RITES operating turnover up by 3.4 percent

NEW DELHI - RITES, a subsidiary of Indian Railways, has logged an operating turnover of over Rs.556 crore in fiscal 2009-10, 3.4 percent up from its Rs.538 crore turn over 2008-09, an official statement said Thursday.

RITES registered a rise in its operating turnover due to infrastructure development in the domestic market, said the statement adding, its total turnover, however, dipped to Rs.623 crores from Rs.672 crore in 2008-09.

Addressing the RITES’ 36th annual general meeting Wednesday, Railway Board Member, Mechanical, Sanjiv Handa said bagging the award of contract for the operation and maintenance of North-South Railway network covering 1,400 km in Saudi Arabia was one of the most prominent achievement of RITES last fiscal.

This was the largest ever overseas operation and maintenance assignment to RITES after the Iraqi Project in the 1980s, said Handa.

He added that during the year, the company was engaged several prestigious international assignments in export, lease and consultancy services.

They included supply of 15 diesel multiple unit (DMU) train sets, three diesel locomotives, machinery, construction of maintenance facilities and training for Sri Lanka and first time ever supply of four sets of air-conditioned DMU to Senegal.

These air-conditioned DMU trains of aerodynamic design have been manufactured first time in India and would cater to suburban commuter traffic in Senegal, Said Handa.

He added that RITES has also won contracts for supply of six in-service 1350 locos, 20 container rail flat wagons and six new MG coaches to Nigeria and project management consultancy for construction of roads in Terai region of Nepal.

On the domestic front, RITES has entered into the domestic leasing business, winning the contract for the first ever domestic leasing of shunting locomotives owned by RITES with Bandel Thermal Power Plant, West Bengal and other power and steel plants and ports.

RITES has also been awarded the task of construction, operation and maintenance of multi-functional complexes(MFC) at seven station premises to provide facilities to rail users such as shopping, food stalls, telecommunication booths and variety stores.

The firm has also been engaged in a number of prestigious domestic assignments, including a turnkey project of enhancement of coach production facilities at Kapurthala, general consultancy for Delhi Metro Rail Corporation Phase-II and Airport Express Link for Delhi.