Rail Vikas Nigam Ltd (RVNL), on 22 February, announced that they had been declared the lowest bidder along with its Joint Venture (JV) partner.

In its regulatory filing, the company said that it, along with its JV, Salasar Techno Engineering Ltd, RVNL-SALASAR, has emerged as the lowest bidder for constructing a project worth Rs 173.99 crore.

The project has been awarded to the JV by the Madhya Pradesh Power Transmission Company Ltd as a general condition contract. The JV company would construct 132-kilovolt and 220-kilovolt transmission lines on a turnkey basis in eastern Madhya Pradesh.

The project has to be completed in 18 months, which has to be executed by both companies. In this JV, RVNL has a 51% stake, while the remaining 49% stake is held by Salasar.

The company is engaged in the business of manufacturing galvanised steel structures for telecom towers, transmission towers, utility poles, etc.