REC, RailTel forge partnership for ₹30,000 crore investment in Telecom, IT and Railway projects

New Delhi, India (Urban Transport News):  In a groundbreaking move, REC Limited, a Maharatna CPSE, has inked a Memorandum of Understanding (MoU) with RailTel on November 9, 2023. This collaboration aims to inject a staggering Rs. 30,000 Crore into RailTel's ambitious infrastructure projects over the next five years.

The multifaceted projects covered by this MoU span a spectrum of critical sectors. From Data Center products and services to Telecom & IT, Railways & Metro projects, and the revolutionary KAVACH Train Collision Prevention System, the collaboration is set to redefine the landscape of rail infrastructure in India.

Beyond national borders, the MoU extends its reach to financing overseas ventures. High-speed rail, metro, IT network, and the Upgradation of the Railway Network are the focus, aligning with bilateral country discussions and Infrastructure Projects in Southeast Asia and Eastern Africa, where RailTel currently concentrates its efforts.

The MoU was formalized with the signatures of T.S.C Bosh, Executive Director (Infra & Logistics), REC, and Jasmeet Singh Marwah, Company Secretary, RailTel. The event witnessed the presence of top officials, including Shri Vivek Kumar Dewangan, CMD, REC, and Shri Sanjai Kumar, CMD, RailTel.

Post-MoU signing, discussions revolved around potential collaborations in emerging areas such as Renewable Energy, Smart Metering, and other projects where RailTel and REC (through its wholly owned subsidiary RECPDCL) can synergize their efforts.

Established in 1969, REC Limited, a Maharatna CPSE under the Ministry of Power, plays a pivotal role in providing long-term loans and financial products for the Power-Infrastructure sector. With a diverse portfolio extending into Non-Power Infrastructure, REC's loan book exceeds a staggering Rs 4,74,275 Crore.

RailTel is recognized as a "Mini Ratna (Category-I)" Central Public Sector Enterprise under the Ministry of Railways, RailTel boasts being one of the largest neutral telecom infrastructure & ICT Solutions and services providers in India. Its extensive optic fiber network, data centers, and diverse services make it a key player in the nation's digital and rail infrastructure.

This strategic collaboration between REC and RailTel promises to be a game-changer, ushering in a new era of innovation and development in the telecom, IT, and rail sectors.