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REC signs MoU with RailTel; to Finance Infrastructure Projects

By IndianMandarins- 10 Nov 2023
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rec-signs-mou-with-railtel-to-finance-infrastructure-projects

Gurugram (10.11.2023): REC Limited signed an MoU with RailTel to extend financial assistance up to Rs 30,000 Crore for Infrastructure Projects to be executed by RailTel in next 5 years. These projects encompass a wide range of areas, including Data Center products and services, Telecom & IT products and services, Railways & Metro projects, and the KAVACH Train Collision Prevention System. Additionally, the MoU extends to the possibility of financing overseas ventures related to High-Speed Rail, metro, IT network, and the Upgradation of Railway Network, as part of bilateral country discussions and Infrastructure Projects in Southeast Asia and Eastern Africa where RailTel is currently focusing.

 

T S C Bosh, Executive Director (Infra & Logistics), REC and Jasmeet Singh Marwah, Company Secretary, RailTel signed the MoU in the presence of Vivek Kumar Dewangan (IAS: 1993: MN), 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 REC and RailTel. Post the MoU Signing, they also discussed opportunities for collaboration in detail and agreed upon exploring new areas viz, Renewable Energy, Smart Metering and other projects where RailTel and REC (through its wholly owned subsidiary RECPDCL) can join hands.

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