REC Limited Hosts Conference on Financing for Roads & Highways Sector

By Global Governance News Last updated Jan 9, 2024

GG News Bureau
New Delhi, 9th Jan. REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, hosted a conference on ‘Financing for Roads and Highways’ in New Delhi on January 8, 2024.

The purpose of the conference was to bring together all key stakeholders and discuss the financing aspects of the sector. Attendees included representatives from the government, industry, and various organizations related to roads and highways.

During the conference, four Memorandums of Understanding (MoUs) worth Rs. 16,000 Crore were signed with Dilip Buildcon Limited, GMR Power & Urban Infra, CDS Infra Projects Limited, and DP Jain & Co. Infrastructure Pvt. Ltd.

In his address, the Secretary of the Ministry of Road Transport & Highways, Shri Anurag Jain, spoke about the Ministry’s vision for the sector’s development and the ease of financing road projects. He highlighted the significant improvement in the quality of roads in India in recent years and expressed hope for the growth of REC Limited and the Ministry of Road Transport & Highways.

In his welcome address, the Chairman and Managing Director of REC Limited, Shri Vivek Kumar Dewangan, provided an overview of REC’s loan portfolio and the company’s vision for financing non-power infrastructure, with a focus on the road sector.

He emphasized the crucial role of the Roads and Highways industry in India’s economic progress and expressed REC Limited’s commitment to being a partner in this journey.

The conference featured presentations from REC and the Road and Highways agencies, highlighting their unique perspectives on financing challenges and opportunities within the sector. It also included an open forum discussion to address queries from Road and Highway developers.

REC Limited is a non-banking financial company (NBFC) that focuses on Power Sector Financing and Development across India. Established in 1969, REC Limited has provided financial assistance to various entities in the power sector.

It has recently diversified into financing the infrastructure and logistics sector as well. REC’s loan book stands at Rs 4.54 Lakh Crore at the end of the first quarter of the current financial year.

Financing for Roads & Highways Sector REC Limited

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