REC and DVC sign a ₹588 crore pact for TUBED coal mine development

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Gurugram: REC Limited, a Maharatna CPSE under the Ministry of Power and a renowned NBFC, recently signed deals worth ₹588 crore with Damodar Valley Corporation (DVC) to boost infrastructure and energy projects in the region.

The agreements, which include a term loan agreement, an escrow agreement, and hypothecation deeds, are intended to deepen their cooperation in the development of TUBED coal mines. The agreement was signed by Sh. Santosh Kumar Sahu, Senior Chief Project Manager, and Sh. Durgesh Maity, Senior General Manager, DVC, in the presence of DVC’s Chairman and Managing Director, S Suresh Kumar.

The signing event recognizes both groups’ combined efforts to promote sustainable development and leverage resources for the betterment of the community.

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