RITES Approves UAE Joint Venture With NICC; Shares Rise

Mumbai, June 25: State-run engineering consultancy RITES Ltd has approved the formation of a joint venture with NICC Infrastructure Construction LLC in the United Arab Emirates (UAE), according to an exchange filing.

The company’s board, at its meeting held on June 25, 2026, approved the formation of the joint venture and the investment of capital in the proposed entity. The venture will be incorporated as a Limited Liability Company (LLC) in the UAE.

RITES said the detailed terms of the transaction, including information required under SEBI’s disclosure norms, will be shared with the stock exchanges after the shareholders’ agreement is executed.

While the company has not disclosed the proposed investment amount or ownership structure at this stage, the approval marks another step in RITES’ efforts to expand its presence in international infrastructure and consultancy projects.

Overseas Expansion Strategy Takes Shape

The proposed UAE-based joint venture is expected to provide RITES with a local platform to pursue infrastructure, engineering and consultancy opportunities in the Middle East.

The company has been steadily increasing its international footprint by undertaking railway, transport, urban infrastructure and engineering assignments across multiple countries. Establishing a local entity could strengthen its ability to participate in regional projects and collaborate with local partners.

Further details regarding the scope of business, shareholding pattern and capital contribution are expected once the shareholders’ agreement is finalised.

Stock Market Snapshot

Investors reacted positively to the announcement during Thursday’s trading session.

As of 13:36 IST on June 25, 2026, RITES shares were trading at ₹211.30, up ₹3.04 or 1.46%. The RITES share price moved higher after the company disclosed the board’s approval for the proposed joint venture in the UAE.

Market participants will now watch for additional disclosures on the commercial structure of the venture and potential business opportunities arising from the partnership.

Company Background

RITES Ltd is a Government-owned engineering consultancy company that provides services across transport infrastructure, railways, highways, ports, airports, urban engineering and project management. The company also undertakes export of rolling stock and consultancy assignments in domestic as well as international markets.

With operations spanning multiple countries, RITES has been expanding its overseas presence through consultancy services, engineering projects and strategic collaborations.

Conclusion

The proposed joint venture with NICC Infrastructure Construction LLC represents another milestone in RITES’ international growth strategy. While financial details are yet to be disclosed, the establishment of a UAE-based entity could strengthen the company’s access to infrastructure opportunities across the Middle East. Investors are likely to monitor the execution of the shareholders’ agreement and subsequent disclosures for greater clarity on the venture’s commercial potential.

Source:

• https://www.nseindia.com/get-quote/equity/RITES/RITES-Limited
• https://nsearchives.nseindia.com/corporate/RITES_25062026131421_IntimationSigned.pdf