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Corporations/ Associations/ Others | Not Classified - india | PID: 202499
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REC has signed agreements worth Rs 588 crore with Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the region. The agreements aim to strengthen their cooperation for the development of TUBED coal mines, and include a term loan agreement, an escrow agreement, and hypothecation deeds
The signing ceremony underscores the collaborative efforts of both organisations in promoting sustainable development and leveraging resources for the greater benefit of the community. REC and DVC remain steadfast in their dedication to fostering innovation, efficiency, and excellence in the energy sector, driving positive change and prosperity for all stakeholders involved
REC is a 'Maharatna' CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). Apart from transmission, distribution, renewable energy and new technologies like electric vehicles, battery storage, REC has also diversified into the non-power infrastructure sector comprising roads & expressways, metro rail, Airports, commercial infrastructure (educational institution, hospitals), ports and electro-mechanical (E&M) works in respect of various other sectors like steel and refinery
| Updated on: 15 - Feb - 2024
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