REC signs MoU with UP govt for multiple projects worth INR 988.53 mn

18 Jan 2023 CW Team

State-owned REC said it signed non-binding MoUs with the Uttar Pradesh (UP) government to extend financial assistance for various projects during UP Global Investors Summit, Delhi that will help UP in employment generation as well as exponential growth in the state. These projects include a power plant at a cost of INR 141 billion, with a capacity addition of nearly 3,000 megawatts (MW), pollution control equipment and allied works; transmission projects worth INR 78 billion for strengthening the transmission system and network in the state, and a distribution project of INR 136 billion for strengthening infrastructure, reducing aggregate technical and commercial losses.

The statement from REC also talked about harnessing renewable energy at a cost of INR 453.50 billion for the addition of 10,000 MW capacity and multiple infrastructure development projects in UP state of INR 200 billion across various sectors. Further, the company also added that during MP Global Investors Summit 2023, the REC had signed a non-binding MoU with MP Power Management Company (MPPMCL) to extend financial assistance of INR 150.86 billion for upcoming Sarand Amarkantak thermal power projects, system improvement works, technology upgradation, renovation and modernisation.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..