REC Receives RBI Approval for Gujarat Subsidiary

07 May 2024 CW Team

The Rural Electrification Corporation (REC) has secured approval from the Reserve Bank of India (RBI) to establish a subsidiary in Gujarat's Gift City. This development marks a significant step for REC in expanding its presence and operations in the renewable energy sector.

With the RBI's nod, REC is poised to establish its subsidiary in Gujarat's Gift City, a designated Special Economic Zone (SEZ) known for its business-friendly environment and infrastructure. This strategic move aligns with REC's commitment to fostering renewable energy development and supporting India's transition towards a greener and more sustainable energy landscape.

The establishment of a subsidiary in Gujarat's Gift City presents REC with opportunities to leverage the region's conducive regulatory framework and infrastructure to facilitate financing and investment in renewable energy projects. REC aims to play a pivotal role in driving renewable energy initiatives and promoting clean energy adoption across the country.

The RBI's approval underscores the regulatory support for REC's expansion efforts and underscores the confidence in the company's ability to contribute to India's renewable energy goals. REC's subsidiary in Gujarat's Gift City is expected to catalyse investments in renewable energy projects, spur economic growth, and create employment opportunities in the region.

As REC moves forward with the establishment of its subsidiary in Gujarat's Gift City, it reinforces its commitment to advancing renewable energy development and fostering sustainable growth. The company's presence in the region is poised to further strengthen India's position as a global leader in renewable energy deployment and contribute to the nation's efforts towards achieving its clean energy targets.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..