REC Limited to Finance Power & Infrastructure Projects in Rajasthan

  • REC Limited, a Maharatna Central Public Sector Enterprise, has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan to finance projects across power and non-power infrastructure sectors. 
  • The MoU will provide loans of up to Rs 20,000 crores annually for the next six years to various departments, undertakings, institutions, and schemes of the Government of Rajasthan. 
  • The agreement is expected to increase projects related to the state’s infrastructure sector, such as power projects, metros, roads & highways, airports, IT infrastructure, oil refinery, steel infrastructure, ports & waterways, fibre optics, telecom, health sector, tourism infrastructure, agriculture, and other infra projects. 
  • The MoU was signed in Jaipur on 10 March 2024, in the presence of various government officials. 
  • REC Ltd., a ‘Maharatna’ Central Public Sector Enterprise under the Ministry of Power, is registered with RBI as a Non-Banking Finance Company (NBFC) and Infrastructure Financing Company (IFC).
  • REC Ltd. provides loans of various maturities to State, Central, and Private Companies for the creation of infrastructure assets in the country.

 

Posted in Current Affairs.