REC expands horizon, enters Road and Highway Finance beyond Power Sector

IndianBureaucracy New Delhi – REC Limited, a distinguished Central Public Sector Enterprise (CPSE) under the Ministry of Power, recently hosted a conference in New Delhi centered on ‘Financing for Roads and Highways.’ The event aimed to unite key stakeholders, including government officials and industry experts specialising in Roads and Highways, to address the sector’s financial intricacies.

With a recent foray into financing the infrastructure and logistics sector, REC Limited is strategically broadening its portfolio beyond power-related projects. Acknowledging REC Limited’s far-reaching impact on power infrastructure development, it’s worth noting that the company’s funding is attributed to illuminating every fourth bulb in the country and greatly influences India’s growth.

The event concluded with formalisation of four crucial Memoranda of Understanding (MoUs), collectively valued at Rs. 16,000 Crore with Dilip Buildcon Limited, GMR Power & Urban Infra, CDS Infra Projects Limited, and DP Jain & Co. Infrastructure Pvt. Ltd. as key signing parties.

In his inaugural address, Shri Vivek Kumar Dewangan

, IAS, CMD, REC Limited, provided a comprehensive overview of REC’s expansive loan portfolio. He emphasised the company’s strategic vision, particularly in financing non-power infrastructure, with a notable focus on the road sector. Shri Dewangan underscored the pivotal role of the Roads and Highways industry in India’s economic progression and reiterated REC Limited’s commitment to being a pivotal partner in this transformative journey.

Shri Anurag Jain, IAS, Secretary (RT&H) MoRTH, Govt of India, outlined MoRTH’s vision for sectoral development, emphasising streamlined financing for road projects and commending improved road quality nationwide. He expressed optimism about the collaborative growth trajectory envisioned for REC Limited and MoRTH.

Established in 1969, REC Limited operates as a Non-Banking Financial Company (NBFC), focusing on Power Sector Financing and Development across India. With a formidable Loan Book totaling Rs 4.54 Lakh Crore the company provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives, and private sector utilities. REC Limited’s financing spans key projects in the power sector value chain, including Generation, Transmission, Distribution, and Renewable Energy, contributing significantly to India’s energy landscape.