Rural Electrification Corporation to fund Vadhavan Port
Rural Electrification Corporation has inked a MoU with JNPA for funding its infrastructure projects including the Vadhavan Port.
The Rural Electrification Corporation and JNPA have signed an agreement under which the former will provide up to Rs. 45,000 crore for a range of projects at the main port, including the Vadhavan Port. A non-banking organisation called Rural Electrification Corporation (REC) lends money to various organisations so they can construct infrastructure around the nation. Loan maturity dates differ depending on the borrower.
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With a net worth of Rs 72,351 crore as of June 30, 2024, REC has a loan book of Rs 5.30 lakh crore. The public sector financial organisation also wants to concentrate on a variety of portfolios, such as infrastructure, renewable energy projects, and accessing international climate money.
