New Delhi: REC Ltd, a government-owned company, announced on Sunday that it has signed a preliminary agreement to offer financing of up to Rs 45,000 crore for various projects of Jawaharlal Nehru Port Authority (JNPA).
REC Ltd, a prominent NBFC under the Ministry of Power, has entered into a Memorandum of Understanding with Jawaharlal Nehru Port Authority (JNPA) to provide financing of up to Rs 45,000 crore for several upcoming projects, including the development of Vadhavan Port, as stated by the company.
Rahul Dwivedi, the Executive Director of REC, signed the MoU with Unmesh Sharad Wagh, the Chairman of JNPA. The Memorandum of Understanding was signed with Union Minister Sarbananda Sonowal in attendance.
The agreement is to create a structure for collaboration between JNPA and REC, with JNPA carrying out infrastructure projects in its field of expertise and REC supplying the necessary financing, as stated.
FIRST Business Portal addressing the potential of business capability of North East Region.
