REC Limited signs MoU with Rajasthan govt, pledges ₹50,000 crore annually for infrastructure
New Delhi: In a major financial commitment
to boost infrastructure in Rajasthan, REC Limited
, a Maharatna CPSU under the ministry of power and a prominent NBFC, has signed a Memorandum of Understanding (MoU
) with the Government of Rajasthan to provide ₹50,000 crore
annually until 2030. This agreement, which increases the previous commitment from ₹20,000 crore, totals an investment of ₹3 lakh crore over six years.
The MoU was signed during the "Rising Rajasthan Investors meet
" in the presence of Rajasthan Chief Minister
Bhajan Lal Sharma; Col Rajyavardhan Rathore, Minister for Industries & Commerce, Government of Rajasthan; and Sudhansh Pant, Chief Secretary, Government of Rajasthan. The documents were exchanged by Rahul Dwivedi, Executive Director (PMD and I&L) REC, and Debasish Prusty, Secretary to the Government of Rajasthan.
This revised MoU is an update from a previous agreement signed on March 10, 2024, which initially committed ₹20,000 crore annually to the state's infrastructure projects. With the new arrangement, REC will finance an extensive array of projects, including power projects
, metros, roads and highways, airports, IT infrastructure, and sectors such as oil refinery, steel infrastructure, ports & waterways, fiber optics, telecom, health, tourism infrastructure, agriculture, and other critical infrastructure areas.
The financial influx is expected to significantly accelerate the development of Rajasthan's infrastructure, supporting a wide range of sectors and contributing to the state's economic growth
and prosperity.
to boost infrastructure in Rajasthan, REC Limited
, a Maharatna CPSU under the ministry of power and a prominent NBFC, has signed a Memorandum of Understanding (MoU
) with the Government of Rajasthan to provide ₹50,000 crore
annually until 2030. This agreement, which increases the previous commitment from ₹20,000 crore, totals an investment of ₹3 lakh crore over six years.
The MoU was signed during the "Rising Rajasthan Investors meet
" in the presence of Rajasthan Chief Minister
Bhajan Lal Sharma; Col Rajyavardhan Rathore, Minister for Industries & Commerce, Government of Rajasthan; and Sudhansh Pant, Chief Secretary, Government of Rajasthan. The documents were exchanged by Rahul Dwivedi, Executive Director (PMD and I&L) REC, and Debasish Prusty, Secretary to the Government of Rajasthan.
This revised MoU is an update from a previous agreement signed on March 10, 2024, which initially committed ₹20,000 crore annually to the state's infrastructure projects. With the new arrangement, REC will finance an extensive array of projects, including power projects
, metros, roads and highways, airports, IT infrastructure, and sectors such as oil refinery, steel infrastructure, ports & waterways, fiber optics, telecom, health, tourism infrastructure, agriculture, and other critical infrastructure areas.
The financial influx is expected to significantly accelerate the development of Rajasthan's infrastructure, supporting a wide range of sectors and contributing to the state's economic growth
and prosperity.