REC, RailTel Ink INR 30,000 Crore Pact for Transformative Infrastructure Projects
The collaboration marks a financial commitment of up to INR 30,000 Crore, aiming to support RailTel's ambitious Infrastructure Projects over the next five years.
November 10, 2023. By News Bureau
The expansive scope of projects includes ventures in Data Centre products and services, Telecom & IT products and services, Railways and metro projects, and the innovative KAVACH Train Collision Prevention System.
Notably, the agreement extends the possibility of financing overseas ventures related to High-Speed Rail, metro, IT network, and the Upgradation of the Railway Network, as part of bilateral country discussions and Infrastructure Projects in Southeast Asia and Eastern Africa where RailTel is actively focusing.
The MoU was formally signed by T.S.C. Bosh, Executive Director (Infra & Logistics), REC, and Jasmeet Singh Marwah, Company Secretary, RailTel. The signing ceremony witnessed the presence of key figures including Vivek Kumar Dewangan, CMD, REC; Sanjai Kumar, CMD, RailTel; Ajoy Choudhary, Director (Finance), REC; V.K. Singh, Director (Projects), REC; Manoj Tandon, Director (Project) RailTel; Anshul Gupta, Advisor, RailTel, and other senior officials from both REC and RailTel.
Post the signing, the stakeholders engaged in detailed discussions and agreed to broaden their partnership into new areas such as Renewable Energy, Smart Metering, and other projects where RailTel and REC, through its wholly-owned subsidiary RECPDCL.
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Dr. Mridula D Bharadwaj
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