RMC Switchgears secures ₹59 crore distribution infrastructure contract

RMC Switchgears Limited has received a Letter of Intent (LOI) valued at ₹59,12,44,356.07 from Jaipur Vidyut Vitran Nigam Limited (JVVNL). This domestic contract is for executing works related to the Development of Distribution Infrastructure Work for Segregation of 11 KV mixed feeders at Tonk Circle of Jaipur Discom, Rajasthan State, under the Revamped Reforms-based and Results linked, Distribution Sector Scheme (RDSS).

The turnkey project has a time period for execution of 15 months from the effective date of award, including survey and approval. This LOI is expected to positively contribute to RMC Switchgears Limited's revenue and growth prospects. The company confirmed that neither the promoter nor promoter group has any interest in the awarding entity, and the transaction is not considered a related party transaction.