REC inks MoU with Rajasthan government to fund power and infra projects

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New Delhi: REC Limited, a Maharatna CPSE and NBFC, has signed a MoU with Rajasthan’s government to finance power and non-power infrastructure projects up to Rs 20,000 crore per year for six years until 2030.

Under the agreement, REC Limited will provide up to Rs 20,000 crore annually for six years to Rajasthan’s government departments, undertakings, and schemes, aiming to boost infrastructure projects like power, metro, roads, airports, IT, oil refineries, steel, ports, fiber optics, telecom, health, tourism, and agriculture.

On the occasion, 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 Govt. of Rajasthan. These agreements marked a substantial commitment towards bolstering infrastructure development and driving economic growth in the region.

Speaking about the agreement, REC Ltd. CMD Vivek Kumar Dewangan said, ” Through this partnership, we aim to support sustainable growth and address the evolving energy needs of the region, along with the development of other infrastructure sectors.”

The MoU was signed in Jaipur on Sunday in the presence of several dignitaries, including Rajashthan Chief Minister Bhajan Lal Sharma, Deputy CMs Diya Kumari and Heera Lal Naagar, Minister of State for Energy; Sudhansh Pant, Chief Secretary, Government of Rajasthan; Shri Amrit Lal Meena, Secretary, Ministry of Coal, Government of India; Shri Vivek Kumar Dewangan, CMD, REC; and CMDs from NTPC, Powergrid, NLC India, and Director, Coal India.

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