The collaboration will focus on opportunities in India and international markets, combining the technical expertise and sectoral experience of both organisations.
RITES Ltd, a leading transport infrastructure consultancy under the Ministry of Railways, has signed a memorandum of understanding (MoU) with MECON Ltd, an undertaking under the Ministry of Steel, to collaborate in identifying new business opportunities and jointly pursuing projects.
âThe collaboration will focus on opportunities in India and international markets, combining the technical expertise and sectoral experience of both organisations to deliver integrated infrastructure solutions,â a RITES statement said on Monday.
This is the latest in a series of announcements by governmentâowned entities exploring new business avenues to expand their footprint across emerging sectors. Earlier, companies such as Rail Vikas Nigam Ltd (RVNL), IRCON International, and NBCC (India) Ltd have outlined plans to diversify into areas such as renewable energy, port development, and urban infrastructure.
The partnership aims to leverage the complementary strengths of both organisations: RITESâ extensive expertise in transport infrastructure and engineering consultancy, and MECONâs capabilities in the metal, mining, energy, and allied sectors.
Under the agreement, the two organisations will jointly explore consultancy assignments and infrastructure opportunities across a wide range of sectors, including railways, metro rail, highways, expressways, airports, ports, ropeways, bridges, tunnels, urban transport, energy, water resources, hydropower, wastewater management, and industrial infrastructure.