RITES Limited has secured a major international order from Tsiko Africa Logistics (Pty) Limited, marking a significant milestone for the company's international business expansion. The contract involves the supply, commissioning, and a one-year onsite warranty for overhauled Cape Gauge 3100 HP diesel electric locomotives. This achievement underscores RITES' expertise in delivering high-quality, reliable transportation solutions across borders.

With a contract value of 4.28 million USD, this order adds to the growing list of international projects that RITES has successfully executed. The nature of the contract reflects RITES' strong capabilities in locomotive technology, as well as its commitment to providing long-term, efficient, and sustainable transport solutions globally.

The contract, awarded by an international entity, Tsiko Africa Logistics, reflects the growing demand for refurbished locomotive solutions in international markets, particularly in Africa. RITES will execute the contract within a 6-month period, followed by a comprehensive one-year onsite warranty, ensuring continuous support and service.

The locomotives will undergo detailed overhaul and refurbishment before being supplied to the client. This move strengthens RITES’ global footprint, reinforcing the company's commitment to delivering excellence in the transport sector. The Cape Gauge 3100 HP diesel electric locomotive is a robust machine suited for diverse railway operations, and its overhaul ensures improved performance and longevity.

It is important to note that the promoters or group companies of RITES have no interest in Tsiko Africa Logistics, making this a clean, non-related party transaction. This reinforces the transparency and arm's length nature of the deal, in line with the company's commitment to ethical business practices.

This contract is expected to positively impact RITES' revenue streams and enhance its market reputation as a leading provider of diesel electric locomotives in international markets. This order, in conjunction with other high-profile international and domestic projects, places RITES on a continued growth trajectory, both in India and overseas.

The overhauled Cape Gauge 3100 HP diesel electric locomotive is designed to meet the stringent operational demands of railway networks in Africa, ensuring efficiency and performance across challenging terrains. RITES’ role in commissioning and providing an onsite warranty further showcases its comprehensive service offering, ensuring that clients receive end-to-end solutions for their operational needs.

This achievement is another step in RITES' strategy to increase its presence in the international markets. The company is increasingly focusing on expanding its portfolio of services across various regions, including Africa, which holds immense potential for the railway and transport infrastructure sector.

The contract is compliant with SEBI Listing Obligations and Disclosure Requirements. The intimation was made under Regulation 30, pursuant to the latest circular issued in July 2023, outlining the guidelines for disclosures related to major contracts and orders.

This order further highlights RITES' ability to cater to diverse global markets, solidifying its position as a key player in the international transport infrastructure industry.

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This latest development showcases RITES’ growing capabilities in the international market and reinforces its commitment to providing high-quality, sustainable, and efficient solutions to clients worldwide.