RITES Wins Big: Secures $2.9 Million International Supervision Contract from Guyana
By HDFC SKY | Updated at: Jun 10, 2025 11:30 AM IST
Gurugram, June 10, 2025: RITES Limited (NSE: RITES | BSE: 541556), a government-owned engineering consultancy firm, has announced that it has secured a significant overseas contract valued at USD 2.91 million. The Letter of Acceptance (LOA) was awarded by the Ministry of Public Works, Co-operative Republic of Guyana, for supervising a major infrastructure project involving the extension of the East Bank–East Coast Road Project Phase 2 (Eccles to Providence).
Strategic International Win for RITES
The contract marks a continuation and expansion of RITES’ previous assignments in Guyana, increasing it market share and footprint in the global infrastructure consultancy segment. The new project involves full-scale construction supervision to ensure quality and timely completion of one of Guyana’s major transport corridors. It also highlights the trust Guyana places in RITES’ technical expertise and strong track record.
Execution Timeline and Scope
The total contract duration is set at 30 months, including 18 months of active construction supervision, followed by a 12-month Defects Liability Period. This large-scale engagement underscores RITES’ long-term commitment, involving on-site project management, technical evaluations, quality checks, and adherence to global standards.
Key Order Details
| Particulars | Details |
|---|---|
| Awarding Entity | Ministry of Public Works, Co-operative Republic of Guyana |
| Nature of Work | Construction Supervision for Road Extension Project |
| Project Location | Guyana (International) |
| Contract Value | USD 2,908,824.50 (excluding taxes) |
| Execution Period | 18 Months Supervision + 12 Months Defects Liability Period |
| Related Party Transaction | No |
| Promoter/Group Interest in Entity | None |
Regulatory Compliance and Governance
RITES has confirmed that the contract does not fall under related party transactions, and neither the company nor its promoters hold any interest in the awarding entity. The company made the disclosure in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, ensuring full transparency with investors and market participants.
Share Price Effect
The shares of RITES Limited closed at ₹302.25, up 0.70% or ₹2.10 on June 9th’s market session. It remains to be seen at what price the shares open today and how they perform throughout the market session.
What’s Ahead?
This global order boosts RITES’ revenue outlook and deepens its presence in Latin America. Building on its successful projects in Africa and South Asia, the deal adds strategic value to its international consultancy pipeline and supports its goal of becoming a trusted infrastructure partner for emerging markets.
About RITES Limited
RITES Ltd is a Schedule ‘A’ Mini Ratna Public Sector Enterprise under the Ministry of Railways. The company provides transport infrastructure consultancy and engineering services in India and abroad. It is listed on both the NSE and BSE and has maintained a robust order book, underpinned by domestic and international projects across railways, highways, ports, and urban infrastructure segments.
REF: https://nsearchives.nseindia.com/corporate/RITES_10062025075430_IntimationOfMajorOrderGuyanasigned.pdf
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