Patel Engineering & RVNL Partner for Hydro & Infrastructure Projects
Aug 30, 2024 12:35
Patel Engineering and RVNL have signed an MoU to collaborate on hydro and infrastructure projects in India and internationally. The partnership aims to jointly execute projects, leverage expertise and expand into new markets.
New Delhi, Aug 30 (PTI) Patel Engineering on Friday said it has signed an agreement with state-owned RVNL to jointly work on hydro and other infrastructure projects.
The MoU with Rail Vikas Nigam Limited (RVNL) is for executing projects in India and international markets, Patel Engineering Ltd (PEL) said in a statement.
"The Memorandum of Understanding (MoU) marks the beginning of a strategic partnership aimed at jointly executing projects in the field of hydro and other infrastructure projects both within India and internationally," the infrastructure company said.
As per the MoU, PEL and RVNL will collaborate on certain identified hydro and other infrastructure projects as opportunities arise.
Further, the parties will have the flexibility to participate in tenders and project bids either jointly or separately.
"When bidding together, both entities will align on the bidding strategy, structure, and terms of the collaboration, ensuring a unified approach to project execution," PEL said.
RVNL, under the Ministry of Railways, is involved in project development, financing and implementation of projects related to rail infrastructure.
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