Ahmedabad: Shares of government-owned engineering firm RITES Ltd. rose by up to 2% on Tuesday after the company announced it was the lowest bidder for a ₹28.5 crore project floated by the Gujarat Urban Development Company Limited (GUDC). The project falls under the scope of the AMRUT 2.0 and SJMMSVY schemes, which aim to enhance urban services for Urban Local Bodies (ULBs) across Gujarat.

RITES topped the financial bid for a tender to appoint a Third-Party Inspection (TPI) agency to monitor and evaluate works related to Water Supply Schemes (WSS), Underground Drainage (UGD), and Sewage Treatment Plants (STP) in various urban centers across the state.

The final contract award is contingent upon a detailed evaluation process by GUDC, including scrutiny of both technical and financial proposals in accordance with the criteria specified in the tender documents.

The estimated contract value is ₹28 crore, excluding Goods and Services Tax (GST), and the project is scheduled to span 60 months from the issuance of the Letter of Acceptance (LOA) or Notice to Proceed (NTP).

The initiative forms part of a broader effort to improve urban water and sanitation infrastructure in Gujarat. AMRUT 2.0 is a Central Government initiative, while SJMMSVY is administered by the Gujarat State Government.

RITES also clarified that its promoters or affiliated companies hold no financial interest in GUDC.

Founded in 1974, RITES Ltd. is a public sector enterprise under the Ministry of Railways, providing end-to-end engineering consultancy and project management services for transport and infrastructure projects. DeshGujarat