REC Limited has signed agreements worth Rs588 crores with Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the Damodar Valley region.

MOUs and Agreement

REC Limited has signed agreements worth Rs588 crores with Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the Damodar Valley region. The agreements aim to strengthen the cooperation between REC and DVC for the development of tubed coal mines, and include a Term Loan agreement, an Escrow agreement, and Hypothecation deeds. The agreements signed underscore the collaborative efforts of both organizations in promoting sustainable development and leveraging resources for the greater benefit of the community.


      DVC is a public sector undertaking under the union Ministry of Power, engaged in power generation and transmission, catering to the energy needs of the eastern region of the country.

      REC is a 'Maharatna' Central Public Sector Enterprise under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC).

     

 

     


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