Rail Vikas Nigam Ltd (RVNL) has entered into an agreement with Tata Steel Ltd for implementation of various infrastructure products. RVNL is a government-owned company, which mainly deals in providing infrastructure for Indian Railways. It has a market cap of around Rs 6,442 crore. The latest agreement with Tata Steel is in connection with implementation of infrastructure projects either on nomination basis as a deposit work or through the special purpose vehicle (SPV) route. The agreement is subject to bankability of the SPV project, execution of definitive agreement and management approval.
Tata Steel, a flagship company of the Tata Group, is among the top global steel companies with an annual crude steel capacity of 34 million tonne per annum. It is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world.