Rail Vikas Nigam Limited (RVNL) was incorporated as a Public Sector Undertaking (PSU) on 24.01.2003. The company Board was formulated in March 2005. The Board of Directors comprises Chief Managing Director (CMD), 4 Functional Directors, 2 Part-Time Official Directors from Ministry of Railways and 7 other Part Time Non-Official Directors.
The authorized share capital of RVNL is ₹3000 crore with the paid-up share capital of ₹2085.02 crore. 12.16% stake of company has been disinvested through IPO in March/April 2019 and remaining 87.84% share lies with Ministry of Railways.
RVNL has completed a total of 2932.35 km of doubling, 1783.22 km of gauge conversion, 360.01 km of new lines, 3762.07 km of pure Railway Electrification (RE), 2029.41 km RE as part of New Line (NL)/Gauge Conversion (GC)/Doubling (DL) and 42.0 km of Metropolitan Transport Project (MTP). Thus, as on 31.03.2019, 8879.65 km project length out of a total length of 17066.62 km of 174 sanctioned projects assigned to RVNL, have been completed. Total 76 projects have been fully completed.
As far as resource mobilization is concerned, RVNL has set up 6 Special Purpose Vehicles (SPVs) with total investment of ₹7442.64 crore, out of which, RVNL contribution is only ₹967.85 crore (13%) and balance amount has been arranged through equity of other stakeholders and debt from financial institutions. Out of these 6 SPVs, three SPV projects are already functional and remaining three are at various stages of progress. RVNL is also executing 5 projects under Asian Development Bank (ADB) loan of 500 million United States Dollar (USD) in various tranches.
During 2009-14, 1213 Km length (18 Km New Line, 482 Km Gauge Conversion and 713 Km Doubling) has been commissioned at an average of 243 Km per year. During 2014-19, 1818 Km length (130 Km New Line, 134 Km Gauge Conversion & 1554 Doubling) has been commissioned at an average of 364 Km per year, which is 150% of average commissioning during 2009-14 (243 Km per year).
Average annual turnover of RVNL during 2014-19 is ₹6244 crore per year, which is 332% of average turnover during 2009-14 (₹1880 crore per year).
Further, RVNL has been rated as “Excellent” for last 7 consecutive years by the Department of Public Enterprises (DPE).
This information was given by the Minister of Railways and Commerce & Industry, Shri Piyush Goyal in a written reply to a question in Rajya Sabha today.