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REC Inks 3 Lakh Cr MoU with Rajasthan Government to Finance Power and Non-Power Infra Projects

REC has signed a MoU with the Government of Rajasthan to provide INR 50,000 crore annually till 2030 to finance projects across power and non-power infrastructure in the state.

October 03, 2024. By Mrinmoy Dey

State-owned REC Ltd. has recently announced that it has signed a MoU with the Department of Finance, Government of Rajasthan during the Rising Rajasthan Investors meet held in New Delhi.

As per the MoU, REC will provide INR 50,000 crore annually (increased from INR 20,000 Crore) to finance projects across power and non-power infrastructure for a period of six years up to 2030. The total value of the MoU amounts to INR 3 lakh crore.

The MoU was signed in the presence of Rajasthan’s Chief Minister Bhajan Lal Sharma, the state’s Minister for Industries and Commerce Col Rajyavardhan Rathore and Sudhansh Pant, Chief Secretary, Government of Rajasthan.

The MoU was exchanged by Rahul Dwivedi, ED (PMD and I&L) REC and Debasish Prusty, Secretary to the Government of Rajasthan.

This agreement builds on a MoU signed in March 2024, where REC pledged INR 20,000 crore annually. The increased financial support will propel the development of critical infrastructure projects across Rajasthan, covering sectors like power, metro systems, roads, highways, IT, airports, oil, telecom, and tourism.

Tags:

Rajasthan Chief Minister

Minister for Industries and Commerce of Rajasthan

Rahul Dwivedi

Debasish Prusty

REC signs MoU