RITES Limited has formalized a Memorandum of Understanding (MOU) with Steel Authority of India Limited (SAIL) for locomotive leasing and maintenance services, marking a significant milestone in the railway infrastructure sector.

MOU Formalization

The RITES and SAIL partnership has now been officially documented through an MOU, strengthening the strategic collaboration between these two major public sector enterprises. This formalization brings together RITES' expertise in railway consulting and engineering services with SAIL's industrial transportation requirements.

Strategic Business Expansion

This MOU represents a strategic expansion of RITES' service portfolio in the locomotive sector. The company, recognized for its railway consulting and engineering expertise, continues to diversify its offerings through formal partnerships with major industrial clients.

The collaboration with SAIL, one of India's largest steel producers, demonstrates the growing integration between railway services and heavy industry sectors. Such formalized agreements are crucial for ensuring efficient and reliable transportation of industrial goods and materials.

Market Positioning and Impact

The locomotive leasing and maintenance MOU positions RITES as a comprehensive railway solutions provider in the public sector ecosystem. By securing formal agreements with major enterprises like SAIL, the company strengthens its market presence and establishes long-term business relationships in the railway infrastructure domain.

This partnership reflects the broader trend of structured collaboration within India's public sector, where state-owned enterprises formalize partnerships to leverage each other's expertise and enhance operational efficiency through documented service agreements.

RITES Limited has announced a change in its board composition with the cessation of Shri Shailendra Singh as Government Nominee Director. The railway consultancy and engineering company informed both NSE and BSE about this development through a regulatory filing dated February 01, 2026.

Director Cessation Details

Shri Shailendra Singh (DIN:07083410) ceased to be the Government Nominee Director of RITES Limited effective February 01, 2026. The cessation follows his superannuation from the post of Executive Director, Railway Board on January 31, 2026.

Current Board Composition

Following Shri Shailendra Singh's cessation, RITES Limited's board now comprises eight directors across various categories:

Regulatory Compliance

The announcement was made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was signed by Ashok Mishra, Company Secretary & Compliance Officer (Membership No.: F6411), and submitted to both stock exchanges on February 01, 2026.

The company maintains its corporate governance structure with the remaining government nominee director Shri Jayant Kumar continuing on the board alongside the executive and independent directors.