REC & DVC Light the Way with ₹588 Crore Tubed Coal Project

REC and Damodar Valley Corporation (DVC) have recently inked agreements totaling Rs 588 crore, aimed at bolstering infrastructure and energy projects within the region. These agreements signify a concerted effort to fortify collaboration towards the advancement of TUBED coal mines. Among the key agreements are a term loan agreement, an escrow agreement, and hypothecation deeds.

This ceremonial signing underscores the shared commitment of both entities towards fostering sustainable development and harnessing resources for the collective welfare of the community. REC and DVC affirm their unwavering dedication to driving innovation, efficiency, and excellence within the energy sector, thereby catalyzing positive transformation and prosperity for all stakeholders.

REC, a 'Maharatna' CPSE under the Ministry of Power and registered with RBI as a Non-Banking Finance Company (NBFC) and Infrastructure Financing Company (IFC), boasts a diversified portfolio encompassing transmission, distribution, renewable energy, and emerging technologies such as electric vehicles and battery storage. Additionally, REC has expanded its footprint into the non-power infrastructure sector, including roads & expressways, metro rail, airports, commercial infrastructure (such as educational institutions and hospitals), ports, and electro-mechanical (E&M) works across various sectors such as steel and refinery.

News by Rahul Yelligetti