RailTel Secures ₹144.88 Crore Gujarat Govt Contract

24 Oct 2024 , 02:16 PM

RailTel Corporation of India Ltd. secured a ₹144.88 Crore order from the Gujarat Home Department on October 24.

The contract involves supply, installation, commissioning, and operations maintenance of CCTV video surveillance systems at LCB SoG cyber police stations and other police branches in Clusters 1, 2, and 3.

The project is scheduled for completion by May 21, 2025. In September, RailTel received another order worth ₹48.7 Crore from Health Insurance TPA of India Ltd.

This order involves the development of an integrated claims management solution portal and mobile application, set to be completed by June 14, 2030.

On August 30, RailTel was awarded ‘Navratna’ status by the Government of India, becoming the 22nd PSU to receive this distinction.

‘Navratna’ status enables companies to make significant investments, up to ₹1,000 Crore, without requiring government approval. These companies can also invest up to 30% of their net worth annually, provided it stays under ₹1,000 Crore.

RailTel can now engage in joint ventures, form alliances, and establish subsidiaries abroad with greater autonomy. To attain Navratna status, companies must have Miniratna Category I status and be listed under Schedule A of CPSEs.