Rural Electrification Corporation to fund 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.