RITES, IRFC sign pact to work in transport infrastructure sector

Engineering firm RITES said it has signed a pact with the Indian Railway Finance Corporation (IRFC) to explore possibilities of collaborating in the railway eco-system

Engineering firm RITES on Thursday said it has signed a pact with the Indian Railway Finance Corporation (IRFC) to explore possibilities of collaborating in the railway eco-system and transport infrastructure sector.

In a statement, RITES said it will offer consultancy and advisory services and assist in ascertaining the financial & technical viability of projects, while IRFC will provide financial services to projects/ institutions that have got backwards and forward linkages with the Railways.

"RITES Ltd signs a memorandum of understanding (MoU) with Indian Railway Finance Corporation (IRFC) to explore avenues of mutual collaboration in the railway eco-system and the transport infrastructure sector," it said.

RITES Ltd Chief Strategy Officer Manobendra Ghoshal said RITES' consultancy prowess and IRFC's financial expertise will stimulate mega and critical projects and drive sustainable growth in the transport infrastructure sector. The strategic partnership, through knowledge sharing, will also bring synergy and innovation in the consultancy domain.

RITES Limited, under the Ministry of Railways, is a leading player in the transport consultancy and engineering sector.