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MoU signed for funding projects over five years
REC Limited is providing Rs.35,000 crore to Rail Vikas Nigam Limited (RVNL) for Infrastructure Projects to be executed over the next 5 years.
These projects constitute multi-modal logistics hub projects, rail infrastructure projects, road, port, and metro projects where RVNL has forayed into.
An MoU was signed by REC and RVNL on 3 Jan 2024, the Power Ministry said.
RVNL caters to about 30% of infrastructure requirements of Indian Railways and has also pioneered implementation of large infrastructure projects under PPP model. RVNL is primarily undertaking Railway projects and has also made forays into road, port, irrigation and metro projects, many of which have forward and / or backward linkages with Railway infrastructure one way or the other. Fiinews.com
