REC, Rajasthan govt tie-up; finance infra projects

19 Mar 2024 CW Team

The MoU was signed in the presence of several dignitaries including Bhajan Lal Sharma, Chief Minister of Rajasthan; Diya Kumari, Deputy Chief Minister, Government of Rajasthan; Heera Lal Naagar, Minister of State for Energy, Government of Rajasthan; Sudhansh Pant, Chief Secretary, Government of Rajasthan; Amrit Lal Meena, Secretary, Ministry of Coal, Government of India; Vivek Kumar Dewangan, CMD, REC; and CMDs from NTPC, Powergrid, NLC India, and Director, Coal India.

Minister of Power and New & Renewable Energy, RK Singh and Union Minister of Coal, Shri Prahlad Joshi, addressed the ceremony via virtual conference and extended their best wishes for the initiatives undertaken by the Government of Rajasthan.

Speaking about the agreement, Vivek Kumar Dewangan, CMD, REC, said, "We are proud to collaborate with the Government of Rajasthan in its mission to enhance infrastructure development across the state. Through this partnership, we aim to support sustainable growth and address the evolving energy needs of the region along with development of other infrastructure sectors."

Under this agreement, REC will provide loans of up to Rs 20,000 crore annually for next six years to various departments, undertakings, institutions and schemes of the Rajasthan government. With this MoU, there will be a rapid increase in projects related to the state's infrastructure sector like power projects, metro, roads and highways, airports, IT infra, oil refinery, steel infra, ports & waterways, fibre optics, telecom, health sector, tourism infrastructure, agriculture and other infra projects. This collaboration underscores REC's commitment to supporting the development of both power and non-power infrastructure in Rajasthan, thereby contributing to the state's economic growth and prosperity.

On the occasion, MoUs worth Rs 1.6 lakh crore were signed by Central Public Sector Undertakings (CPSUs) under the Ministry of Power and Ministry of Coal with the Government of Rajasthan. These agreements marked a substantial commitment towards bolstering infrastructure development and driving economic growth in the region.

REC, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has signed a Memorandum of Understanding (MoU) on March 10, 2024 in Jaipur with the Government of Rajasthan, to finance projects across power and non-power infrastructure sectors with an investment of up to Rs 20,000 crore per annum for a period of six years, extending up to 2030. The MoU was signed in the presence of several dignitaries including Bhajan Lal Sharma, Chief Minister of Rajasthan; Diya Kumari, Deputy Chief Minister, Government of Rajasthan; Heera Lal Naagar, Minister of State for Energy, Government of Rajasthan; Sudhansh Pant, Chief Secretary, Government of Rajasthan; Amrit Lal Meena, Secretary, Ministry of Coal, Government of India; Vivek Kumar Dewangan, CMD, REC; and CMDs from NTPC, Powergrid, NLC India, and Director, Coal India. Minister of Power and New & Renewable Energy, RK Singh and Union Minister of Coal, Shri Prahlad Joshi, addressed the ceremony via virtual conference and extended their best wishes for the initiatives undertaken by the Government of Rajasthan. Speaking about the agreement, Vivek Kumar Dewangan, CMD, REC, said, We are proud to collaborate with the Government of Rajasthan in its mission to enhance infrastructure development across the state. Through this partnership, we aim to support sustainable growth and address the evolving energy needs of the region along with development of other infrastructure sectors. Under this agreement, REC will provide loans of up to Rs 20,000 crore annually for next six years to various departments, undertakings, institutions and schemes of the Rajasthan government. With this MoU, there will be a rapid increase in projects related to the state's infrastructure sector like power projects, metro, roads and highways, airports, IT infra, oil refinery, steel infra, ports & waterways, fibre optics, telecom, health sector, tourism infrastructure, agriculture and other infra projects. This collaboration underscores REC's commitment to supporting the development of both power and non-power infrastructure in Rajasthan, thereby contributing to the state's economic growth and prosperity. On the occasion, MoUs worth Rs 1.6 lakh crore were signed by Central Public Sector Undertakings (CPSUs) under the Ministry of Power and Ministry of Coal with the Government of Rajasthan. These agreements marked a substantial commitment towards bolstering infrastructure development and driving economic growth in the region.

Real Estate

30 Jul 2026

AI: The New Recruit

From getting ideas to evaluating designs, presenting concepts to clients and tracking projects, artificial intelligence (AI) is helping architects work better and faster.“AI allows architects to spend more time doing what only they can do: think critically, synthesise complexity and design with intent,” says Dikshu C Kukreja, Managing Principal, CP Kukreja Architects. “Every minute reclaimed from repetitive processes can be invested in creativity, contextual understanding, interdisciplinary collaboration and innovation – the qualities that define meaningful architecture.”To read the ..

Real Estate

30 Jul 2026

Redevelopment 2.0

In 2017, Mumbai identified 160,000 ageing buildings due for structural audit. Close to half of these were in the Western Suburbs. Redeveloping the oldest and structurally weakest of these would help unlock new housing, much needed given the city’s growing population density and constant developed area of 437.7 sq km. At 30,600 people per sq km in 2024, Mumbai’s density was almost thrice that of Gurugram, and 60 per cent higher than Bengaluru’s.Essentially, Mumbai’s realty market has demand. It has capital. It has realty development potential.Fast forward to 2026. Mumbai has 1,094 regis..

Technology

30 Jul 2026

Cost intelligence will become a strategic contributor to project success

As India's construction industry accelerates its digital transformation, integrated platforms, AI and connected data are becoming essential to improving cost certainty, project efficiency and sustainability. Ravi Kumar, Sales Director – India, RIB Software India, shares how digital workflows are reshaping project planning, commercial management and decision-making across the construction value chain.India's construction sector is embracing digital technologies at an unprecedented pace. From your perspective, what are the biggest shifts driving this transformation and how is RIB Software enab..