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.
Read Also : NTPC-NPCIL Joint Venture 'ASHVINI' gets Govt approvalMoU 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 : RBI imposes penalty of Rs. 10.4 lakhs on HP Financial ServicesThis 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.
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