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RITES signs pact to acquire 24% stake in Indian Railway Station Development

city New Delhi India covid-19 guidelines Government
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NEW DELHI: State-owned RITES Ltd on Friday said it has signed an agreement to buy 24% stake in Indian Railway Station Development Corp.

Ltd, (IRSDC), the company tasked with redeveloping railway stations across the country. RITES has also resumed operations at most of its offices and project sites after the government eased the covid-19 induced lockdown rules across the country.

It has achieved more than half of its capacity and will scale up its activities going forward, the company said. “During the lockdown RITES continued to focus on key business deals like exports to Africa, signing of IRSDC shareholders’ agreement etc.

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