Rail Vikas Nigam Limited (RVNL) on Monday said it has signed a Memorandum of Understanding (MoU) with Noida-headquartered infrastructure and renewable firm Jakson Green for clean energy engineering, procurement and construction (EPC) projects, globally.
“The partnership aims at enabling India's decarbonising push and shall bring in synergy in designing, executing and delivering EPC projects globally by both partners. RVNL being an infrastructure giant and Jakson being into the renewable energy shall cater to the need for Giga Scale EPC clean energy projects in MENA, CIS and AP AC Countries,” RVNL said in a statement.
Founded in 2022, Jakson Green is a new energy transition platform backed by infrastructure and renewable major Jakson Group. It focusses on EPC, IPP, IHP and O&M of new energy assets spanning solar, utility scale storage, waste-to-energy, fuel cell technologies, gasification-based projects, green hydrogen and green ammonia projects.
Earlier today, RVNL emerged as lowest bidder for a National Highway Authority of India (NHAI) project worth Rs 1,272 crore. Last week, it emerged as the lowest bidder for a project of Rs 1,088.49 cr.
Last month, it said over Rs 1,200 crore bottomline is being targeted for FY24. Its orderbook is expected to be around Rs 75,000 to Rs 1 lakh crore in FY24, Rajesh Prasad of RVNL told CNBC-TV18.
The stock of RVNL settled at Rs 64.60 apiece, and is up nearly 3 percent this week.
First Published: Mar 20, 2023 8:37 PM IST
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