New Delhi: REC Limited and Rail Vikas Nigam Limited (RVNL) have inked an MoU for the financing of multi-modal infrastructure projects amounting to Rs. 35,000 Crores over the next five years. The agreement includes various projects, including multi-modal logistics hubs, rail infrastructure, roads, ports, and metro projects that RVNL is set to undertake.
The MoU was signed by Ajoy Choudhury, Director (Finance) of REC Limited, and Rajesh Prasad, Director (Operations) of RVNL, in the presence of V.K Dewangan, CMD of REC; Sanjeeb Kumar, Director (Finance) of RVNL; and Anupam Ban, DPE of RVNL.
Established in 1969 under the Ministry of Power, REC Limited, a Maharatna CPSE, specialises in providing long-term loans and financial solutions for the power infrastructure sector, encompassing generation, transmission, distribution, renewable energy, and emerging technologies like electric vehicles, battery storage, and green hydrogen.
Recently, REC diversified into the non-power infrastructure sector, including roads, expressways, metro rail, airports, IT communication, social and commercial infrastructure, ports, and electro-mechanical works for sectors like steel and refinery. REC’s current loan book stands at over Rs. 4,74,275 Crore.
RVNL, recognised as a “Schedule ‘A’ Navratna” Central Public Sector Enterprise under the Ministry of Railways, meets approximately 30% of Indian Railways’ infrastructure needs. It has implemented large-scale infrastructure projects under the Public-Private Partnership (PPP) model. While its primary focus is on railway projects, RVNL has expanded into road, port, irrigation, and metro projects, many of which are interconnected with railway infrastructure.
