REC Limited signed a memorandum of understanding (MoU) with RailTel to extend financial assistance upto Rs 300 billion for infrastructure projects to be executed by RailTel in next five years.
MOUs and Agreement
REC Limited signed an MoU with RailTel on 9 November 2023 to extend financial assistance up to Rs. Rs 30,000 crore for infrastructure projects implemented by RailTel over the next 5 years. These projects cover a wide range of sectors including data center products and services, telecom and IT products and services, railway and metro projects and armored train collision avoidance systems. Additionally, the MoU provides for financing of foreign enterprises related to the upgrading of high-speed rail, metro, IT networks and railway networks, as part of bilateral country discussions and infrastructure projects in Southeast Asia and East Africa , where RailTel is currently present. Bosh, Executive Director (Infra & Logistics), REC and Shri Jasmeet Singh Marwah, Company Secretary, RailTel signed the MoU in the presence of Shri Vivek Kumar Dewangan, CMD, REC.
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