REC signs MoU with PFC for FY 2023-24 & FY 2024-25
As per the MoU, REC is committed to improve the revenue from operations from Rs.43,420 Cr targeted in FY 2022-23 to Rs. 46,935 Cr in FY 2023-24.
REC Limited signed MoU with PFC as per the DPE Performance Evaluation System for FYs 2023-24 and 2024-25 for CPSEs on Friday 08th September 2023.
CMD, REC Shri Vivek Kumar Dewangansigned the MoU for the FYs 2023-24 and 2024-25with CMD, PFC Smt. Parminder Chopra in the presence of Directors and other senior officials from both REC & PFC.Read Also : AAI conducts four-day-long Advanced Training Session
As per the MoU, REC is targeting for Revenue from Operations of Rs. 46,935 Cr in FY 2023-24 and Rs 56,322 Cr in FY 2024-25.
REC Limited, a Maharatna CPSE, is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Ltd. has completed over 54 years in the area of its operations.Read Also : NTPC Bongaigaon conducts mass pep talk
It provides financial assistance to complete power-sector value chain; for various types of projects including Generation, Transmission & Distribution and Renewable Energy. Recently, REC has also diversified into non-power Infrastructure & Logistics sector to cover areas such as airports, metro, railways, ports, bridges, etc.
PFC, a Maharatna CPSE, has a majority shareholding in REC. Both REC and PFC are under administrative control of the Ministry of Power, Govt. of India.Read Also : Coal India organises workshop on Reform of Coal Mine closure
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