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REC Ltd Signs MoU With RVNL To Fund Multimodal Infrastructure Projects

Utkarsh Classes Last Updated 03-01-2024
REC Ltd Signs MoU With RVNL To Fund Multimodal Infrastructure Projects Agreements and MoU 2 min read

REC Limited has signed an MoU with Rail Vikas Nigam Limited (RVNL) to finance infrastructure projects worth Rs 35,000 crore.

  • Shri Ajoy Chaudhary, Director (Finance), REC and Shri Rajesh Prasad, Director (Operations), RVNL, signed the MoU.
  • These include multi-modal logistics hub projects, rail infrastructure projects, roads, ports and metro projects.
  • Rail Vikas Nigam Limited will complete these projects in the next 5 years.

Rural Electrification Corporation (REC) Limited:

  • REC is a Non-Banking Financial Company (NBFC).
  • It was established in 1969.
  • It focuses on financing and development of the power sector across India.
  • It comes under the Ministry of Power.
  • REC was granted the status of 'Maharatna' Central Public Sector Enterprise (CPSE) on 22 September 2022.
  • REC is the 12th CPSE to receive Maharatna status.
  • CMD – VK Dewangan
  • REC has been appointed as a nodal agency for the following schemes:
  • 1. Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya)
  • 2. Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY)
  • 3. National Electricity Fund (NEF)

Rail Vikas Nigam Limited (RVNL):

  • It is a 100% central government-owned public sector undertaking.
  • Approval for establishment of RVNL was granted by the Government of India on 19.12.2002 and it was registered as a company under the Companies Act, 1956 on 24 January 2003.
  • RVNL started operations in 2005.
  • It comes under the Ministry of Railways.
  • In the year 2013, it was given the status of Mini-Ratna.
  • It has been granted the status of 13th Navratna company in April 2023.
  • It was set up to implement railway infrastructure projects and raise extra budgetary resources for Special Purpose Vehicles (SPVs).
  • Headquarters – New Delhi


Ans - Rail Vikas Nigam Limited (RVNL)

Ans- In the year 1969

Ans- 12th

Ans- April 2023

Ans- New Delhi
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