Rail Vikas Nigam Limited (RVNL), a central public sector enterprise under the Ministry of Railways, has been granted Navratna Status.
RVNL was incorporated in 2003 to implement rail infrastructure projects on a fast-track basis and raise extra budgetary resources for SPV projects. The company began operations in 2005 after the appointment of its board of directors. It was granted Mini-Ratna status in 2013.
With Navratna’s status, RVNL will enjoy enhanced delegation of powers, more operational freedom, and financial autonomy. This will boost the company’s progress, particularly as it expands its footprint beyond the railways sector and into international projects.
Among the duties assigned to RVNL are developing and executing the entire project lifecycle, creating project-specific SPVs for individual works if required, and handing over completed railway projects to the concerned zonal railways for maintenance and operation.
RVNL has an authorized share capital of Rs. 3000 crore and a paid-up share capital of Rs. 2085 crore. The company has implemented several projects in the rail sector, including doubling and electrification of existing lines, construction of new lines, and gauge conversion projects.
