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This article may contain an excessive amount of intricate detail that may interest only a particular audience.(December 2020) |
Type | Public Sector Undertaking |
---|---|
BSE: 542649 NSE: RVNL | |
Industry | Railway infrastructure |
Founded | 24 January 2003 | in New Delhi, India
Headquarters | August Kranti Bhawan, Bhikaji Cama Place, R. K. Puram, New Delhi , India[1] |
Area served | India |
Key people | |
Revenue | ₹ 19,381.71 Cr (2022) |
₹ 1476.14 Cr (2022) | |
Total assets | ₹ 19,121.42 Cr (2022) |
Total equity | ₹ 5,631.41 Cr (2022) |
Owner | Government of India (78.20%)[3] |
Number of employees | 515 (March 2022) |
Subsidiaries |
|
Website | rvnl |
Rail Vikas Nigam Limited (RVNL) is an Indian central public sector enterprise which works as the construction arm of the Ministry of Railways for project implementation and transportation infrastructure development. It was incorporated in 2003 to meet the country's surging infrastructural requirements and to implement projects on a fast-track basis as well as for creating a Railway equipment construction company. It is a ‘Navratna’ CPSE in India under the administrative control of the Indian Ministry of Railways.
The organization undertakes project execution from concept to commissioning and creates project-specific SPVs. RVNL’s mandate includes the mobilization of extra-budgetary resources (EBRs) through a mix of equity and debts via these SPVs.
History
Rail Vikas Nigam Limited (RVNL) was established to implement the National Rail Vikas Yojana (NRVY), a project to develop railway infrastructure in India. The NRVY was announced by Prime Minister Atal Bihari Vajpayee from the ramparts of the Red Fort during the Independence Day speech on 15 August 2002. The NRVY was formally launched by Vajpayee on 26 December 2002, and RVNL was incorporated under the Companies Act, 1956 on 24 January 2003. RVNL's two main objectives are to augment the capacity of rail infrastructure and raise extra budgetary resources for special purpose vehicle projects.[4]
RVNL opened its initial public offering (IPO) on 29 March 2019. It was the third railways-related PSU to initiate an IPO, after RITES and IRCON. The company offered a 12% stake at a price range of ₹17-₹19 per share.[5][6] The IPO was subscribed 1.78 times by close on 3 April earning ₹481 crore (US$60 million).[7] RVNL was listed on the Bombay Stock Exchange and the National Stock Exchange on 19 April 2019.[8]
List of Manufacturing Units(Industry 4.0 complaint)
Project | Type | Location | Status | Notes |
---|---|---|---|---|
Rail Coach Naveenikaran Karkhana (RCNK) - RVNL | Rail factory | Sonipat | Completed | Rail Vikas Nigam Limited successfully commissioned the Rail Coach Naveenikaran Karkhana at Sonipat, Haryana in October 2021. The Rolling Stock Complex is designed for sustainable development with Industry 4.0 compliant assembly line.Vande Bharat Express production to start in the factory in near future. |
Marathwada Rail Coach Factory (MRCF), Latur - RVNL | Rail factory | Latur, Maharashtra | Completed | The Marathwada Rail Coach Factory, a project of RVNL in Latur, Maharashtra produced its first coach shell on Good Governance Day i.e. 25.12.2020. This state-of-the-art factory was set up and commissioned in just two years by RVNL to manufacture self-propelled trains for Indian Railways.[9] Vande Bharat Express production to start in the factory in near future. |
Railway Manufacturing Unit (RMU) | Wagon Factory | Kazipet,Telangana | Under construction | Indian Railways is going to set up a railway wagon manufacturing unit in Telangana. The unit will be constructed on 160 acres of land in Kazipet at an estimated cost of `521 crore and is expected to be completed by February 2025. The Rail Vikas Nigam Limited (RVNL) was entrusted with this project. |
Subsidiaries
High Speed Rail Corporation of India Limited
The High Speed Rail Corporation of India Limited (HSRC) is an SPV which was incorporated in 2012 as a subsidiary of RVNL to implement high-speed rail projects in India.[10]
Kinet Railway Solutions Ltd
RVNL has incorporated a private company Kinet Railway Solutions Ltd which will act as the SPV that will sign the manufacturing-cum-maintenance agreement with the Ministry of Railways.[11]
Kyrgyzindustry-RVNL
RVNL established a 50:50 joint venture company, named Kyrgyzindustry-RVNL, with Kyrgyz company Kyrgyzindustry.[12] The company will develop rail, road, and other infrastructure in Kyrgyzstan.[13] RVNL informed the Securities and Exchange Board of India (SEBI) of the establishment of the joint venture on 10 December 2022.[14]
Special Purpose Vehicles
Kutch Railway Company Ltd[15]15">edit
RVNL owns 50% equity in this project. The project length is 301 km and is for gauge conversion of Palanpur-Gandhidham section. Currently RVNL is doubling Samakhiali-Palanpur (248 km) anticipating increased traffic flow from Mundra and Deendayal Ports.
Bharuch Dahej Railway Co Ltd[16]edit
RVNL is the largest stakeholder in this SPV with 35.46% equity. The project length is 63 km and is for gauge conversion.
Krishnapatnam Railway Co Ltd[17]edit
RVNL is the largest stakeholder in this SPV with 49.76% equity. The project length is 113.2 km and is for construction of new line from Obulaparivalli to Krishnapatnam port. Complete connectivity was provided in June 2019.
Haridaspur Paradip Railway Co Ltdedit
RVNL is the largest equity shareholder with 30%. This SPV is for a new 82 km line from Haridaspur to Paradip Port. This commercial route became operational on 30.07.2020
Angul Sukinda Railway Ltd[18]edit
RVNL is the largest stakeholder in this SPV with 32.16% equity. This is for a new 102.42 km railway line from Angul-Sukinda. 80% of the project has already been completed and the commercial operation will begin shortly.
New SPVs under formationedit
Indian Port Rail Corporation Limited (IRPCL)edit
RVNL is participating in the formation of IRPCL. This is a SPV under the Ministry of Shipping, with the stakeholders being RVNL and 12 major ports. The initial authorised capital of the SPV is Rs 500 crore with RVNL's equity participation being Rs 10 crore only or 10% of the initial subscribed share capital.
The mandate of the SPV is to enhance rail connectivity to the various Ports in the country. This includes maintenance of Port Railways along with up-gradation, modernisation and capacity augmentation as and when required.
Rail connectivity to Rewas Port in Maharashtaraedit
RVNL began as an organisation for executing various projects of railway engineering, to meet the shortfall of rail infrastructure that the existing system of that time could not fulfil. It was important to think out of the box and find a solution as eventually the price would be heavy with respect to the curtailment of opportunities and options available to a developing nation.
From beginning with railway capacity augmentation through track doubling, new railway lines, gauge conversion, railway electrification, RVNL has moved onto working on metro railways, multimodal transport system, port connectivity, turnkey projects i.e. workshops, training institutes, green buildings, high speed rail projects, cable stayed bridges, river and road bridges, vertical lift bridge, mountain Railways and tunnels.
Corporate Social Responsibilityedit
Corporate Social Responsibility is a part of the ethos of Rail Vikas Nigam Limited. Aligning its goals to CSR objectives’, RVNL has implemented projects in the thematic areas of Health and Education. The geographic focus of RVNL CSR has been West Bengal, Chhattisgarh, Jharkhand, Uttar Pradesh, Madhya Pradesh, Uttarakhand and Odisha. About 60 per cent of CSR funds are spent in the education & health care sector for the underprivileged, marginalized communities and tribal belts.
Department of Public Enterprises Ratingsedit
Rail Vikas Nigam Limited has been rated as "Excellent" by the Department of Public Enterprises (DPE) for 11 consecutive years. The Company has ranked 1st amongst the Railway PSEs and 3rd amongst PSUs in the country in the latest DPE ratings 2020-2021 with a MoU Score of 99.
Assessment Year | Rating | RVNL’s rank among Railway CPSEs |
2007-08 | Good | 8th |
2008-09 | Very Good | 10th |
2009-10 | Very Good | 7th |
2010-11 | Excellent | 5th |
2011-12 | Excellent | 2nd |
2012-13 | Excellent | 1st |
2013-14 | Excellent | 2nd |
2014-15 | Excellent | 1st |
2015-16 | Excellent | 1st |
2016-17 | Excellent | 1st |
2017-18 | Excellent | 1st |
2018-19 | Excellent | 2nd |
2019-20 | Excellent | 1st |
2020-21 | Excellent | 1st |
Recent Accoladesedit
Rail Vikas Nigam Limited team bagged two awards for excellence by Skoch group viz. Gold award for Public-Private Partnership and Silver award for response to Covid in 2022.[19]
Rail Vikas Nigam Limited was conferred the Roll of Honour as the fastest-growing Mini-Ratna of the year by Dalal Street Investment Journal.
Completed projectsedit
The list of 18 projects completed in 2021-22 is as under:[20]
S.
No. |
Railway | Name of Project | Plan Head | Length (km) |
1. | East Coast Railway | Sambalpur-Titlagarh (182 km) | Doubling | 182.00 |
2. | Northern Railway | Utraitia-Raebareli (65.6 km) | Doubling | 68.04 |
3. | Northern Railway | Raebareli-Amethi (60.1 km) | Doubling | 59.00 |
4. | South Central Railway | Vijaywada-Gudivada- Bhimavaram-Narasapur, Gudivada-Machlipatnam and Bhimavaram-Nidadavolu (221 km) - Doubling with electrification | Doubling | 221.00 |
5. | South Central Railway | Secunderabad (Falaknuma)-Mehbubnagar doubling | Doubling | 85.70 |
6. | West Central Railway | Bina-Kota (282.66 km) with RE | Doubling | 282.66 |
7. | Western Railway | Ahmedabad-Botad (170.48 km) | GC | 166.09 |
8. | Western Railway | Dhasa-Jetalsar (104.44 km) | GC | 106.69 |
9. | Railway Electrification | Raninagar Jalpaigudi-New Bongaigaon - Guwahati (Incl) RE (382 km) (Part of Barauni - Katihar - Guwahati Incl. Katihar - Barsoi (836 km) RE | RE | 374.98 |
10. | Railway Electrification | Chikjajur-Bellary RE (184 km) | RE | 183.15 |
11. | Railway Electrification | Bengaluru-Omalur Via Hosur RE (196 km) | RE | 196.00 |
12. | Railway Electrification | Utratia-Raebareli-Amethi 2nd line RE (126 km) | RE | 126.00 |
13. | Deposit | RE of NTPC siding at Hotgi Station (37 km) | RE | 34.41 |
14. | East Central Railway | Gaya -Setting up New MEMU car shed for maintaining 30 rakes of 16 coaches | WKSP | - |
15. | Northern Railway | Sonipat-Setting up of coach periodical overhauling and refurbishment workshop | WKSP | - |
16. | North Eastern Railway | Saidpur Bhitri- Setting up of Electric Loco Shed to home 200 Locos | WKSP | - |
17. | Western Railway | Dhasa-Jetalsar-Subways in lieu of Level Crossing-35 Nos. | RSW | - |
18. | South Central Railway | Lallaguda (Carriage Workshop)- Replacement of 100-Year-Old Administrative Building | OSW | - |
The list of 102 projects fully completed since inception and up to March 2021 is as under:[20]
S. No. | Railway | Project Name | Type of Project | Length (km) |
1. | Central Railway | Diva - Kalyan 5th & 6th Line | Doubling | 11 |
2. | Central Railway | Pakni - Mohol Doubling | Doubling | 17 |
3. | Central Railway | Panvel - Jasai JNPT Doubling | Doubling | 28.5 |
4. | Central Railway | Pakni - Solapur Doubling | Doubling | 16.28 |
5. | Eastern Railway | Gurup - Saktigarh Extn of 3rd Line | Doubling | 26 |
6. | East Central Railway | Barauni - Tilrath Bypass Doubling | Doubling | 8.3 |
7. | East Coast Railway | Talcher-Cuttack-Paradeep Doubling with 2nd Bridge on Rivers Birupa & Mahanadi | Doubling | 3 |
8. | East Coast Railway | Jakhapura- Haridaspur 3rd Line | Doubling | 23.3 |
9. | East Coast Railway | Cuttack - Barang Doubling | Doubling | 14.3 |
10. | East Coast Railway | Rajatgarh-Barang Doubling | Doubling | 31.3 |
11. | East Coast Railway | Khurda-Barang - 3rd line (35 km) | Doubling | 32.32 |
12. | Northern Railway | New Delhi-Tilak Bridge- 5th & 6th line (2.65 km) | Doubling | 2.65 |
13. | North Central Railway | Palwal - Bhuteswar 3rd Line | Doubling | 81 |
14. | North Central Railway | Aligarh - Ghaziabad 3rd Line | Doubling | 106.1 |
15. | North Western Railway | Bhagat Ki Kothi - Luni Doubling | Doubling | 30.3 |
16. | North Western Railway | Karjoda - Palanpur Doubling | Doubling | 5.4 |
17. | North Western Railway | Rewari- Manheru Doubling | Doubling | 69.02 |
18. | North Western Railway | Rani-Keshav Ganj Doubling | Doubling | 59.5 |
19. | North Western Railway | Abu Road-Sarotra Road- Patch doubling (23.12 km) | Doubling | 23.12 |