REC, Bank of India tie-up to co-finance power & infra projects

19 Oct 2023 CW Team

REC Limited signed an MoU with Bank of India (BoI) to explore the possibility of funding the power sector and infrastructure and logistics sector projects under the consortium arrangement. REC and BoI will partner to co-finance loans amounting to Rs 30,000 crore for projects implementable in 5 years.

TSC Bosh, Executive Director (Infra & Logistics), REC and Nitin G Deshpande, CGM, BoI signed the MoU in the presence of Vivek Kumar Dewangan, CMD, REC, Shri Rajneesh Karnatak, MD & CEO, BoI, Ajoy Choudhury, Director (Finance), REC and other senior officials from REC and BoI.

REC Limited, a Maharatna CPSE established in 1969, under the Ministry of Power, provides long-term loans and other finance products for the Power-Infrastructure sector comprising of Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Green Hydrogen etc. REC has also diversified into the core infrastructure sector comprising Roads, Metro, Airports, IT, Ports, etc. The Loan Book of REC stands at Rs 4.54 Lakh Crore, ending first quarter of current financial year.

Bank of India is a Public Sector Bank and doing banking Business including funding infrastructure projects across the country with a worldwide presence. Founded in 1906, BoI has made rapid growth over the years and blossomed into a mighty institution with a strong national presence and sizable international operations. In business volume, the Bank occupies a premier position among the nationalised banks and has a Global Gross Business of over Rs 12.14 lakh crore.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..