REC signs MoU with JNPA for financing Rs. 45,000 Cr

REC signs MoU with JNPA for financing Rs. 45,000 Cr

REC Limited, Maharatna PSU under Ministry of Power and a leading NBFC, signed an MoU with Jawaharlal Nehru Port Authority (JNPA) for financing upto Rs. 45,000 Cr for various upcoming projects of JNPA, which includes development of Vadhavan Port.

Shri Rahul Dwivedi, IAS, Executive Director, REC signed the MoU with Shri Unmesh Sharad Wagh, Chairman, JNPA.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : NTPC Western Region HQ Holds Regional Communication Meet to Strengthen Internal Dialogue

MoU was signed in the presence of Shri Sarbananda Sonowal, Hon’ble Union Minister for Ports, Shipping and Waterways.

Shri Sanjay Sethi, IAS, Additional Chief Secretary (Transport and Ports), Government of Maharashtra and other senior officials from REC & JNPA were also present.

Read Also : BPCL partners with Volks Energie to build LFP based solar power plant

This MoU is to establish a framework for cooperation between JNPA and REC whereby JNPA implements projects in the infrastructure sector of its expertise and REC shall provide the required funds.

JNPA is an undertaking of Government of India, and is a premier container handling Port, accounting for around 50% of the total containerized cargo volume, across the major ports of India.

Read Also : IRFC Q3 results: Net Profit up by 1.98%, PAT stood at Rs 4820 crore