REC Hosts Conference on Financing for Roads, Highways: Signs MoUs Worth INR 16,000 Cr
CMD of REC Limited, Vivek Kumar Dewangan, provided an overview of REC's loan portfolio and highlighted the company's vision for financing non-power infrastructure.
January 11, 2024. By Abha Rustagi
During the conference, four Memoranda of Understanding (MoUs) amounting to INR 16,000 Crore were inked with prominent entities including Dilip Buildcon Limited, GMR Power and Urban Infra, CDS Infra Projects Limited, and DP Jain and Co. Infrastructure Pvt. Ltd.
Addressing the participants, Anurag Jain, Secretary, Ministry of Road Transport and Highways, outlined the Ministry's vision for sector development and emphasized the importance of ease of financing road projects. He expressed optimism about the collaborative growth of REC Limited and the Ministry.
CMD of REC Limited, Vivek Kumar Dewangan, provided an overview of REC's loan portfolio and highlighted the company's vision for financing non-power infrastructure, with a special focus on the road sector. Dewangan underscored the pivotal role of the Roads and Highways industry in India's economic progress and reiterated REC Limited's commitment to being a strategic partner in this journey.
The conference featured presentations from REC and the Road and Highways agencies, shedding light on their unique perspectives on financing challenges and opportunities within the sector. It served as a platform for lenders and borrowers to present their viewpoints, followed by an open forum discussion where queries from Road and Highway developers were addressed.
REC Limited, an NBFC focusing on Power Sector Financing and Development, has been in operation since 1969. With a diversified portfolio extending to infrastructure and logistics, REC has played a significant role in financing projects across the power sector value chain, including Generation, Transmission, Distribution, and Renewable Energy.
The company's Loan Book stands at INR 4.54 Lakh Crore, marking its substantial contribution to illuminating every fourth bulb in India.
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