REC Limited, A Government of India Navratna Enterprise has committed financial assistance of Rs.8.83 crore under its CSR initiative to Tata Memorial Centre (TMC), Kharghar, Navi Mumbai for a project focused on improving sanitation and hygiene of the patients, students and staff by funding construction of sewage treatment plant (STP) & master sewer line, water storage & distribution system for new buildings and water treatment plant (WTP) through its CSR arm, REC Foundation. The main objective of the project is to treat waste water and produce water for secondary purposes, thereby reducing dependency on public water distribution in the years to come.
The Memorandum of Agreement (MoA) in this regard was executed between REC Foundation and TMC in New Delhi on 16th January, 2020. Dr S N Srinivas, CEO, REC Foundation, on behalf of REC Foundation and Dr. Sudeep Gupta, Director, ACTREC, on behalf of Tata Memorial Centre signed the Memorandum of Agreement in the presence of Shri Ajeet Agarwal, CMD & Director (Finance), REC Ltd., Shri Ajoy Choudhary, ED (CSR), REC Ltd. and other officials of REC.
About the Company:
REC Limited (formerly Rural Electrification Corporation Limited) is a Navratna NBFC and Infrastructure Finance Company (IFC) focusing on Power Sector Financing and Development across India. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; different type of projects includes Generation, Transmission, Distribution Projects and Renewable Energy projects.