REC-DVC cooperation include a Term Loan agreement
REC Limited has signed agreements worth Rs.588 crores with Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects including tubed coal mines in the Damodar Valley region.
The agreements, signed on 14 Feb, aim to strengthen the cooperation between REC and DVC include a Term Loan agreement, an Escrow agreement and Hypothecation deeds.
The agreement was signed by Senior Chief Project Manager, REC Regional Office, Kolkata, Santosh Kumar Sahu and Senior General Manager (Finance), DVC, Durgesh Maity, in the presence of Chairman and Managing Director, DVC, S. Suresh Kumar and members of DVC’s technical, finance, and administrative teams (see picture).
The singed agreements underscore the collaborative efforts of both organizations in promoting sustainable development and leveraging resources for the greater benefit of the community.
REC and DVC remain steadfast in their dedication to fostering innovation, efficiency, and excellence in the energy sector, driving positive change and prosperity for all stakeholders involved.
DVC is a public sector undertaking under the Ministry of Power, engaged in power generation and transmission, catering to the energy needs of the eastern region of the country. Fiinews.com
