RITES has received an approval for the investment of Rs 48 crore for acquiring a stake of 24% in Indian Railways Station Development Corporation. This investment is being done at face value i.e. Rs 10 per share and will provide RITES an opportunity of growth in the emerging field of development of railway stations.
The Board of Directors of the company in its meeting held on December 27, 2019, approved the same.
RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.
