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India’s RITES gets Sri Lanka railway engine contract

ECONOMYNEXT – India’s RITES Ltd. has been given a contract to supply Sri Lanka’s railway with 10 diesel engines at a unit FOB (free on board) price of US$4.25 million each after being the sole bidder.

Government spokesman Health minister Rajitha Senaratne said the Cabinet of Ministers approved a proposal by Nimal Siripala de Silva, Minister of Transport and Civil Aviation, to award the contract under the Indian loan scheme.

The ministry said the contract price had been negotiated down from $4.40 million RITES had originally quoted for each engine.
(COLOMBO, Nov 10, 2016)
 

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