Gurugram: Power sector Maharatna REC Limited signed an agreement with RailTel on Thursday to provide financial assistance up to Rs. 30,000 crore for infrastructure projects to be completed by RailTel over the next five years.
These projects include data centre products and services, telecom and IT products and services, railway and metro projects, and the KAVACH Train Collision Prevention System.
Furthermore, as part of bilateral country discussions and infrastructure projects in Southeast Asia and Eastern Africa, where RailTel is currently focusing, the MoU includes the possibility of financing overseas ventures related to high-speed rail, metro, IT networks, and railway network upgrading.
Mr Vivek Kumar Dewangan, CMD, REC; Mr Sanjai Kumar, CMD, RailTel; Mr Ajoy Choudhary, Director (Finance), REC; Mr V K Singh, Director (Projects), REC; Mr i Manoj Tandon, Director (Project), RailTel; Mr Anshul Gupta, Advisor, RailTel; and other senior officials from REC and RailTel were present on the occasion.
Following the signing of the MoU, they discussed opportunities for collaboration in depth and agreed to explore new areas, such as renewable energy, smart metering, and other projects where RailTel and REC (via its wholly owned subsidiary RECPDCL) can collaborate.