MOU
REC Signs MoU worth Rs 39K crore with Karnataka
BANGLORE. MOUs were signed between REC Limited and KPCL & BESCOM on 3rd February, 2017 in presence of Chief Minister of Karnataka, Shri Siddharamaih and Energy Minister Shri D. K. Shivakumar for extending a financial assistance to the tune of Rs.39,121 crore to the power utilities in the state for the next five years (till March, 2022).
As per the MOU, KPCL can avail a debt of Rs.27,121 crore for generation projects and other loan requirements. BESCOM can avail a debt of Rs.12,000 crore for implementation of Distribution projects in the state for strengthening, augmentation, upgradation of distribution infrastructure, sub-transmission system, new distribution, under-ground cabling works, R&M works, works under DDUJGY & IPDS, implementation of smart grid, smart meters, procurement of various materials, creation of distribution infrastructure for releasing agricultural services and working capital/operational funding requirements, special loan requirements & works for Smart Cities, etc.
Apart from financial assistance power utilities have agreed to avail consultancy and management services from REC’s subsidiaries for their various activities/projects for the next five years.
Read Also : Adani Green Secures USD 400 million from international banks for 750 MW power projects
News Must Read
- Sushil Sharma assumes additional charge of CMD, and Director (Personnel) of SJVN Limited
- Coal India Limited Board recommends final dividend, here to know
- Dr. Subhransu Sekhar Acharya assumes charge of NSIC CMD
- CIL reports mixed bag of results for Q4 of FY23-24
- NMDC's Promising Start to FY25, Targets 50 Million Tonnes
- RITES to take assessment for Vande Bharat Trains
- RBI cancels Certificate of Registration of Acemoney (India) Limited due to irregular lending practices
- Coal India Production rises by 7 percent in April
- WAPCOS became second Indian PSU in ADB Consulting
- Power Grid appoints Satyaprakash Dash as CS and Compliance Officer