RITES, Coal India arm ink MoU for mining and renewable energy operations 

Shares of RITES Ltd are in news today after the prime transport infrastructure consultant, inked an MoU with Central Mine Planning & Design Institute Limited (CMPDI), a subsidiary of Coal India Limited (CIL), to establish a strategic framework for collaboration. RITES shares gained up to a percent to Rs 275.75 in early deals on Thursday against the previous close of Rs 273.50 on BSE. Market cap of the firm stood at Rs 13,252 crore.

The stock has lost 6.79 per cent this year and fallen 20.46 per cent in one year.

The partnership aims at identifying, exploring, and jointly pursuing prospective projects and consultancy assignments—both in India and internationally—particularly in the fields of mining, renewable energy and related infrastructure development.

Under the MoU, RITES will leverage its international experience, market intelligence, and logistics infrastructure expertise for effective evacuation to support CMPDI in securing mining projects, undertaking consultancy assignments, and designing capacity-building programmes. 

The two organizations will jointly identify opportunities and conduct feasibility studies and detailed assessments for mining, power, renewable energy, and related infrastructure projects in mutually agreed geographies. They will also collaborate on consultancy assignments and jointly submit proposals for mining and evacuation projects, both in India and abroad.

RITES Limited, a subsidiary of Indian Railways, provides engineering services. The company offers transport infrastructure consultancy, railway inspection, rolling stock leasing and maintenance, airport construction management, industrial and electrical engineering, and other related services.