New Delhi: Rail Vikas Nigam Limited (RVNL), a Central Public Sector Enterprise under the Ministry of Railways, has been awarded the coveted Navratna Status.
RVNL was established as a Public Sector Undertaking on January 24, 2003, with a dual mandate of expeditiously implementing railway infrastructure projects and generating extra budgetary resources for Special Purpose Vehicles.
The company began operations in 2005 with the appointment of a Board of Directors and was granted Mini-Ratna status in September 2013. The company's authorized share capital is Rs. 3,000 crore, with paid-up share capital of Rs. 2,085 crore.
RVNL is responsible for project development and execution, covering the entire project life cycle, including creating project-specific SPVs if required. Upon completion of a railway project by RVNL, the relevant Zonal Railway will undertake its operation and maintenance.
With the grant of Navratna status, RVNL will enjoy enhanced delegation of powers, greater operational freedom, and financial autonomy, which will significantly boost its progress. This is particularly significant as RVNL is expanding its presence beyond railways and taking on projects abroad.
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