NBCC, RITES ink MoU for securing projects globally in diverse sectors

NBCC (India) Ltd and RITES Ltd have signed an agreement to collaborate for securing projects globally in diverse sectors.

According to a statement, NBCC and RITES have signed a significant Memorandum of Understanding (MoU) aimed at transforming infrastructure development across India and beyond.

NBCC is one of the leading players in the construction sector with areas of operation in Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC) and real estate development.

RITES has a significant presence in the transport and infrastructure sectors, in India and abroad, including in the areas of Railway systems and Rolling Stock export and related services.

"This MoU will allow both the organisations to complement each other in securing projects in diverse sectors. The key competencies of these two companies will bring about better innovation and execution," the statement said.

The MoU was signed by Pradeep Sharma, ED, Business Development, NBCC and Pankaj Chaudhary, Chief Strategy Officer, RITES in the presence of NBCC CMD K P Mahadevaswamy and RITES CMD Rahul Mithal.

"The MoU aims to achieve the effectiveness of synergy and cooperation on a long-term basis to explore combined business interests in relation to the development, financing and execution of projects," NBCC said.

The MoU would facilitate both NBCC and RITES to collaborate for undertaking a comprehensive range of consultancy/fee-based projects/EPC contracts from concept to commissioning in various sectors.