India-based Rail Vikas Nigam Limited (RVNL) has signed a memorandum of understanding (MoU) with Malaysia-based Dhaya Maju Infrastructure (Asia) Sdn Bhd (DMIA) to collaborate on railway infrastructure and services projects in the ASEAN market and other regions. The partnership will focus on establishing a manufacturing base in Malaysia for railway coaches and other products to meet the growing demands in ASEAN countries.
This MoU is part of RVNL’s broader strategy to expand its global footprint, building on multiple project wins in recent months. Despite a decline in revenue and profit in the first quarter of FY 2025, RVNL’s stock has seen significant growth, rising over 215 per cent in 2024 and 361 per cent in 2023.