REC signs ₹16,000 Crore MoUs at Conference on Roads and Highways Financing in New Delhi

Anushka Khare Posted on: 2024-01-08 17:30:00 Viewer: 2,260 Comments: 0 Country: India City: New Delhi

REC signs ₹16,000 Crore MoUs at Conference on Roads and Highways Financing in New Delhi

New Delhi, India (Urban Transport News): REC Limited, a prestigious Maharatna CPSE under the Ministry of Power, took center stage by organizing a conference on 'Financing for Roads and Highways.' This landmark event aimed to unite key stakeholders, fostering discussions on the financial intricacies of the roads and highways sector. Hosted in New Delhi, the conference brought together government officials, industry leaders, and key players from the Road and Highways sectors, facilitating a crucial exchange of ideas. Notably, MoUs worth Rs. 16,000 Crore were inked during the conference, underscoring REC Limited's commitment to driving tangible outcomes.

Unveiling Financial Commitments

At the heart of the conference were significant financial commitments, with REC Limited sealing four MoUs totaling Rs. 16,000 Crore. Dilip Buildcon Limited, GMR Power & Urban Infra, CDS Infra Projects Limited, and DP Jain & Co. Infrastructure Pvt. Ltd. emerged as the key partners in these groundbreaking agreements, emphasizing the financial vigor and strategic alliances forged during the event.

Vision for Non-Power Infrastructure Financing

In his welcome address, Shri Vivek Kumar Dewangan, IAS, CMD, REC Limited, provided a comprehensive overview of REC's loan portfolio. He articulated the company's vision for financing non-power infrastructure, placing particular emphasis on the road sector. Shri Dewangan underscored the pivotal role of the Roads and Highways industry in India's economic progress, especially in the context of transformative government initiatives like Bharatmala, Sagarmala, and the National Infrastructure Pipeline. The commitment to providing customized debt financing solutions reaffirmed REC Limited's role as a steadfast partner in the nation's infrastructure journey.

Government's Perspective

Addressing the participants, Shri Anurag Jain, IAS, Hon’ble Secretary (RT&H) MoRTH, Govt of India, articulated MoRTH's vision for sector development and the importance of facilitating ease in financing road projects. He commended the advancements in the quality of India's roads and highways over recent years and expressed optimism for the collaborative growth of REC Limited and MoRTH.

Presentations and Discussions

The conference featured illuminating presentations from REC Limited and the Road and Highways agencies. These presentations shed light on unique perspectives concerning financing challenges and opportunities within the sector. The event provided a platform for a comprehensive discussion, encompassing both lenders' and borrowers' viewpoints. An open forum addressed queries from Road and Highway developers, fostering a collaborative environment for collective problem-solving.

Powering India's Progress

Established in 1969, REC Limited has played a pivotal role in powering India's progress, focusing on Power Sector Financing and Development. Beyond the power sector, REC has recently diversified into financing infrastructure and the logistics sector. With a formidable Loan Book of Rs 4.74 Lakh Crore, REC Limited stands as a beacon of financial strength, influencing and shaping the trajectory of India's infrastructure landscape.

In conclusion, the conference on 'Financing for Roads and Highways' not only showcased REC Limited's financial acumen but also marked a pivotal moment in advancing collaborative efforts for the development of India's vital transportation infrastructure.

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