Gurugram (11.11.2023): The REC Foundation signed a Memorandum of Agreement (MoA) with ALIMCO to provide assistance of ₹10.00 crore for the project "Distribution of aids & assistive devices to persons with disabilities" in 25 locations across the country.
The MoA was signed by Bhupesh Chandolia, Senior GM & HoD, REC Foundation and Ajay Chaudhary, GM Marketing, ALIMCO. This project will be implemented by the Artificial Limbs Manufacturing Corporation of India (ALIMCO), a Government of India PSU, and is aimed at benefiting five to six thousands of people from deprived classes of society.
The proposed project for Distribution of Aids & Appliances to the Person with Disabilities (PwDs) is aimed at empowering them to restore their confidence and improve functional ability. The assistive devices are generally long lasting and does not require high level of maintenance. As the capital cost is already borne under the project, the beneficiary is expected to maintain the same.
REC Limited provides long term loans and other finance products for Power-Infrastructure sector comprising of Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Green Hydrogen etc. More recently REC has also diversified into the Non-Power Infrastructure sector comprising of Roads & Expressways, Metro Rail, Airports, IT Communication, Social & Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. The loan book of REC exceeds Rs 4,74,275 Crore
ALIMCO, a not for profit organization, is registered under Companies Act 1956 and is a Government of India undertaking, working under Ministry of Social Justice & Empowerment.
