REC MoU With Rail Vikas Nigam To Finance Infra Projects
REC Limited has signed a Memorandum of Understanding (MoU) with Rail Vikas Nigam Limited (RVNL) to finance infrastructure projects worth up to Rs 35,000 crore over the next five years. The agreement focuses on multi-modal logistics hubs, rail infrastructure, road, port, and metro projects. REC Limited is a Maharatna CPSE that primarily provides long-term loans and financing for the power-infrastructure sector, including generation, transmission, distribution, renewable energy, and emerging technologies like electric vehicles, battery storage, and green hydrogen. REC has recently expanded into non-power infrastructure sectors, including roads & expressways, metro rail, airports, IT communication, and social & commercial infrastructure such as educational institutions and hospitals. REC’s loan book currently exceeds Rs 4,74,275 crore. On the other hand, RVNL, a “Schedule ‘A’ Navratna” CPSE under the ministry of railways, contributes to approximately 30% of Indian Railways’ infrastructure needs. Besides focusing on railway projects, RVNL has ventured into road, port, irrigation, and metro projects, often integrating these with railway infrastructure.
Tags : REC Limited Memorandum of Understanding Rail Vikas Nigam Limited vehicles battery storage green hydrogen non-power infrastructure sectors including roads & expressways metro rail airports IT communication social & commercial infrastructure