RITES, PFC partners for synergy and innovation in consultancy domain

Gurugram: Power Finance Corporation (PFC), a Mahartana CPSU and India's leading NBFC, has entered into a Memorandum of Understanding (MoU) with RITES Limited, a premier engineering consultancy company, to establish a strategic partnership for financing infrastructure and logistics sector projects in India and abroad.

PFC and RITES will explore avenues of mutual collaboration for undertaking Traffic Studies, Project Management Services, Audits & Inspections, DPR reviews, and other relevant services for carrying out projects of mutual interest.

The MoU will also enable both the companies to explore consultancy opportunities for various Government Bodies, Private Entities, and Multilateral Funding Agencies. The collaboration will focus on identifying, evaluating, and funding projects in transportation, logistics, energy, and allied infrastructure.

PFC's financial expertise with RITES engineering consultancy prowess together will accelerate the development of critical projects and drive sustainable growth in the infrastructure and logistics sectors. The partnership will also facilitate knowledge sharing in developing infrastructure projects. 

The MoU was signed in the presence of Shri Ravinder Singh Dhillon, CMD, PFC, Shri Rahul Mithal, CMD, RITES, Directors of PFC & other senior Officials of both Companies.

The MOU underlines PFC’s commitment towards playing a pivotal role in powering the nation's aspirational journey into a greener and more sustainable future.

About RITES Limited-

RITES Limited, a Miniratna (Category-I) and Schedule 'A' Central Public Sector Enterprise under the Ministry of Railways, incorporated on April 26, 1974, is a multidisciplinary engineering and consultancy organization, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.

About Power Finance Corporation-

PFC is under the administrative control of the Ministry of Power. PFC has conferred the title of a 'Maharatna CPSE' in Oct. 2021 and was classified as an Infrastructure Finance Company by the RBI on 28th July 2010.

PFC plays a crucial role in the rise of India as a global player. Increasingly, a country's development is gauged by measuring its energy usage. With a large fraction of our nation still, unfortunately, without any access to electricity, PFC will become an increasingly important factor in the years to come.

Our shareholders and clients place their full faith in our ability to deliver unbeatable results. Despite the hardships played by the power and financial sectors, PFC continues to maintain a healthy loan book, as well as low levels of NPAs.