New Delhi, 2 January 2024: REC Limited has entered into a strategic Memorandum of Understanding (MoU) with RVNL, marking a significant financial commitment of up to Rs. 35,000 Crore towards Infrastructure Projects slated for execution by RVNL over the forthcoming 5 years.
This collaborative effort encompasses a diverse range of ventures, including multi-modal logistics hubs, rail infrastructure, roads, ports, and metro initiatives where RVNL has expanded its footprint. The signing ceremony, attended by key executives such as Shri V.K Dewangan, CMD of REC, and Shri Sanjeeb Kumar, Director (Finance) of RVNL, solidifies the partnership’s economic impact.
Established in 1969, REC Limited, a Maharatna CPSE under the Ministry of Power, has evolved into a financial powerhouse with a loan book surpassing Rs 4,74,275 Crore. While traditionally focused on the Power-Infrastructure sector, REC has recently diversified into Non-Power Infrastructure, spanning Roads and expressways, Metro Rail, Airports, IT Communication, and Social and Commercial Infrastructure.
This strategic collaboration aligns with REC’s broader vision of catalyzing economic growth by fueling critical projects in various sectors.