RITES Contract with IIM Raipur Sees Upward Revision.

RITES Ltd. recently announced a substantial revision in the estimated project cost for its ongoing work at the Indian Institute of Management (IIM), Raipur. The project, encompassing a range of infrastructure developments under an EPC (Engineering, Procurement, and Construction) Mode-III contract, has seen its cost adjusted from ₹148.25 crore to ₹220.65 crore.

The revision, communicated via a letter from IIM Raipur, is on a cost-plus basis, excluding GST (including PMC fee). This upward adjustment reflects changes related to the "Construction of Academic Block, Hostel Cluster consisting of 4 Blocks, Construction of 1st floor of Students dining Block and Auditorium Block and its associated services under phase-II at IIM Raipur."

The updated cost signifies the expanded scope or increased estimated expenses associated with the continued development of the IIM Raipur campus. RITES is a key player in providing consultancy and engineering services across various sectors, and this project highlights its role in the development of educational infrastructure.