IANS | 11 Mar, 2024
REC Limited, a Maharatna CPSE under the Ministry of Power, has signed
an MoU with the Rajasthan government to finance projects across power
and non-power infrastructure sectors with an investment of up to Rs
20,000 crore per annum for a period of six years, extending up to 2030,
according to a company statement issued on Monday.
REC chairman and MD Vivek Kumar Dewangan said, “Under this
agreement, REC Limited will provide loans of upto Rs 20,000 crores
annually for the next six years to various departments, undertakings,
institutions and schemes of the Rajasthan government.”
With this
MoU, there will be a rapid increase in projects related to the state's
infrastructure sector like power projects, metro, roads & highways,
airports, IT infra, oil refinery, steel infra, ports and waterways,
fiber optics, telecom, health sector, tourism infrastructure,
agriculture and other infra projects, he added.
This collaboration
underscores REC's commitment to supporting the development of both
power and non-power infrastructure in Rajasthan, thereby contributing to
the state's economic growth and prosperity, according to the company
statement. he added.
The MoU was signed in Jaipur at a ceremony in the presence of the Rajasthan Chief Minister Bhajan Lal Sharma.
MoUs
worth Rs 1.6 lakh crore were signed by Central Public Sector
Undertakings (CPSUs) under the Ministry of Power and Ministry of Coal
with the Rajasthan government.
These agreements marked a
substantial commitment towards bolstering infrastructure development and
driving economic growth in the region.
Union Minister of Power
and New & Renewable Energy R. K. Singh and Minister of Coal Prahlad
Joshi addressed the ceremony via virtual conference.
