REC, DVC sign agreements for tubed coal mines
POWER & RENEWABLE ENERGY

REC, DVC sign agreements for tubed coal mines

REC, a Maharatna CPSE under the Ministry of Power and a leading NBFC, signed agreements worth Rs 588 crore with Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the region. The agreements aim to strengthen their cooperation for the development of tubed coal mines, and include a Term Loan agreement, an Escrow agreement, and Hypothecation deeds.

The agreement was signed by Santosh Kumar Sahu, Senior Chief Project Manager, REC Regional Office, Kolkata and Durgesh Maity, Senior General Manager (Finance), DVC. The signing took place in the presence of S Suresh Kumar, Chairman and Managing Director (CMD), DVC along with members of DVC?s technical, finance, and administrative teams.

The signing ceremony underscores the collaborative efforts of both organisations 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.

REC, a Maharatna CPSE under the Ministry of Power and a leading NBFC, signed agreements worth Rs 588 crore with Damodar Valley Corporation (DVC) to strengthen infrastructure and energy projects in the region. The agreements aim to strengthen their cooperation for the development of tubed coal mines, and include a Term Loan agreement, an Escrow agreement, and Hypothecation deeds. The agreement was signed by Santosh Kumar Sahu, Senior Chief Project Manager, REC Regional Office, Kolkata and Durgesh Maity, Senior General Manager (Finance), DVC. The signing took place in the presence of S Suresh Kumar, Chairman and Managing Director (CMD), DVC along with members of DVC?s technical, finance, and administrative teams. The signing ceremony underscores the collaborative efforts of both organisations 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.

Next Story
Infrastructure Transport

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Next Story
Resources

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Next Story
Real Estate

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?