New Delhi [India], May 20 (ANI): RITES Limited, a leading engineering consultancy firm, on Monday signed a contract agreement for supplying 200 broad gauge passenger carriages to Bangladesh Railways.

The export arm of Indian Railways, RITES has won the USD 111.26 million (approximately Rs 915 crore) contract, funded by the European Investment Bank (EIB), through a global competitive bidding process, as per a company release.

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As per terms and conditions of the contract, besides supply, RITES will offer its expertise in design, spare parts support, and training. The contract has a supply with a commissioning period of 36 months, followed by a warranty period of 24 months.

This deal is in line with the vision of 'Make in India, for the World'.

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RITES has been an old partner in Bangladesh's path to infrastructure development.

Earlier, it had supplied 120 BG Passenger Coaches (LHB type), 36 BG locomotives, and 10 Meter Gauge locomotives to Bangladesh Railways, besides collaborating on other infrastructure projects.

The company has experience spanning over five decades and has undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and the Middle East region. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)