RITES Ltd, Kirloskar Oil Engines to jointly explore business opportunities
RITES Ltd., the export unit of Indian Railways which provides rolling stock overseas, has entered into a memorandum of understanding (MoU) with Kirloskar Oil Engines Ltd. (KOEL) to co-study business opportunities for supplies/services in the export of railway rolling stock, infrastructure, and urban transport for domestic and global markets.
Under the MoU, the transport infrastructure consultancy and engineering company, will contribute its know-how in design, commercialization, operation and maintenance, and any other support needed for capitalizing business opportunities.
Manobendra Ghoshal — RITES Ltd. Chief Strategy Officer (CSO) said: “The collaboration with KOEL will not only create a platform to explore business avenues around the globe but also facilitate knowledge sharing to strengthen each other’s operations in promoting smart and sustainable infrastructure.”
RITES CSO Manobendra Ghoshal and KOEL MD Ms. Gauri Kirloskar at the MoU signing event in Gurugram. Photo courtesy of RITES Ltd.
On the other hand, Kirloskar Oil Engines, a diesel engines manufacturer owned by the Kirloskar Group, will handle the development and manufacturing of tailored products.
Vinod Menon — Kirloskar Oil Engines Vice President said: “The strategic partnership between RITES and KOEL leverages the strengths of both organisations. While we, at KOEL, are focused on developing world-class products and services, RITES has outstanding design, technical expertise, and marketing capabilities. We look forward to a long and fruitful association.”