State-owned engineering and transport consultancy firm RITES Ltd, operating under the Ministry of Railways, has revealed plans to expand its international consultancy services. The company’s Chairman and Managing Director CMD, Rahul Mithal, made the announcement during an event on Tuesday. With a particular focus on markets like Vietnam, RITES Ltd is committed to establishing a strong global presence.
Focus on International Consultancy
RITES Ltd considers international consultancy a crucial area for its growth strategy. To this end, the company has launched ‘RITES Videsh’ as a strategic initiative to enhance its worldwide presence and performance. By intensifying efforts in international consultancy, the company aims to improve revenue and margin generation in this segment.
Strategic Partnerships
The company highlighted its strategic partnership with Abu Dhabi port through a Memorandum of Understanding. This partnership is viewed as a significant milestone in achieving RITES Ltd’s international expansion objectives.
Involvement in Diverse Sectors
Apart from consultancy services, RITES Ltd is actively involved in various sectors, including metro development, airports, highways, and institutional buildings. The company is currently engaged in projects such as consultancy for the Gwalior airport and the provision of engineering services for the augmentation of airports in Mangalore and Lucknow. Additionally, RITES Ltd is taking part in projects related to institutional buildings, such as the new block of IIT Delhi.
Opportunities in the Aviation Sector
In recognition of RITES Ltd’s expertise, the Odisha government has expressed interest in commissioning the company for a detailed project report on new airports. This indicates the aviation sector’s potential for further collaboration and growth opportunities.
Continued Domination in Global Engineering Consultancy
Demonstrating a strategic approach towards international expansion, coupled with a diverse portfolio of projects both domestically and internationally, RITES Ltd continues to establish itself as a leading player in the global engineering consultancy domain. With a focus on key markets like Vietnam and involvement across sectors such as metro development, airports, highways, and institutional buildings, the company’s growth trajectory looks promising.
