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Rail Vikas Nigam Ltd (RVNL) was incorporated as an 100% owned PSU of the Ministry of Railways (MoR) on Jan 24, 2003, with the dual objective of raising extra-budgetary resources and implementation of projects relating to the creation and augmentation of the capacity of rail infrastructure on a fast track basis.
RVNL functions as an extended arm of the Ministry of Railways (MoR). It is empowered to act as an Umbrella SPV to undertake project development, resource mobilization, etc., directly or by creating project specific SPVs or by any other financing structure found suitable. RVNL’s mandate includes mobilization of extra budgetary resources through a mix of equity and debt from banks, financial institutions, multilateral agencies like Asian Development Bank and bilateral agencies for project execution through PPP by formation of project specific SPVs for Port and Hinterland connectivity.
RVNL is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings, etc.
Since inception, MoR has transferred 179 projects to RVNL, of which 174 projects are sanctioned for execution. Out of these, 72 projects have been fully completed totalling to ₹20,567.28 crore and the balance are ongoing. Currently, its order book stands at ₹77,504.28 crore as on December 31, 2018 which includes 102 ongoing projects. For FY18, RVNL completed 315.20 rkm of doubling and 425 rkm of railway electrification (total 885.50 rkm of project length).
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