REC signs Rs 3 lakh crore financing agreement with Rajasthan Govt for power projects

REC Limited on Tuesday said it has signed an agreement with the Rajasthan government to provide financing of Rs 3 lakh crore for power projects
REC signs Rs 3 lakh crore financing agreement with Rajasthan Govt for power projects
REC signs Rs 3 lakh crore financing agreement with Rajasthan Govt for power projects
Published on

New Delhi: State-owned REC Limited on Tuesday said it has signed an agreement with the Rajasthan government to provide financing of Rs 3 lakh crore for power projects.

PSU Watch is now on Whatsapp Channels. Click here to join

The financing will be provided for projects in both power and non-power infrastructure sectors for a period of six years up to 2030, REC said in a statement.

"REC signs MoU with the government of Rajasthan for Rs 3 lakh crore. As per the MoU, REC will provide Rs 50,000 crore annually (increased from Rs 20,000 crore) to finance projects across power and non-power infrastructure for a period of six years," it said.

REC signs Rs 3 lakh crore financing agreement with Rajasthan Govt for power projects
REC Limited launches app for 54EC bond investors

REC, under the Ministry of Power, is a Non-Banking Finance Company (NBFC) focusing on power sector financing in India.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

logo
PSU Watch
psuwatch.com