REC : signs MoU with RailTel, to Finance Infrastructure Projects in Telecom, IT and Railway Signalling

REC signs MoU with RailTel, to Finance Infrastructure Projects in Telecom, IT and Railway Signalling
Dated 09-11-2023

Gurugram, 9 November 2023: REC Limited signed an MoU with RailTel on 9^th November 2023 to extend financial assistance upto Rs. 30,000 Crore for Infrastructure Projects to be executed by RailTel in next 5 years. These projects encompass a wide range of areas, including Data Center products and services, Telecom & IT products and services, Railways & Metro projects, and the KAVACH Train Collision Prevention System. Additionally, the MoU extends to the possibility of financing overseas ventures related to High-Speed Rail, metro, IT network, and the Upgradation of Railway Network, as part of bilateral country discussions and Infrastructure Projects in Southeast Asia and Eastern Africa where RailTel is currently focusing.

Shri T.S.C Bosh, Executive Director (Infra & Logistics), REC and Shri Jasmeet Singh Marwah, Company Secretary, RailTel signed the MoU in the presence of Shri Vivek Kumar Dewangan, CMD, REC; Shri Sanjai Kumar, CMD, RailTel; Shri Ajoy Choudhary, Director (Finance), REC; Shri V K Singh, Director (Projects), REC; Shri Manoj Tandon, Director (Project) RailTel; Shri Anshul Gupta, Advisor, RailTel and other senior officials from REC and RailTel. Post the MoU Signing, they also discussed opportunities for collaboration in detail and agreed upon exploring new areas viz, Renewable Energy, Smart Metering and other projects where RailTel and REC (through its wholly owned subsidiary RECPDCL) can join hands.

REC Limited, a Maharatna CPSE established in 1969, under Ministry of Power, provides long term loans and other finance products for Power-Infrastructure sector comprising of Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Green Hydrogen etc. More recently REC has also diversified into the Non-Power Infrastructure sector comprising of Roads & Expressways, Metro Rail, Airports, IT Communication, Social & Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. The loan book of REC exceeds Rs 4,74,275 Crore.

RailTel, a "Mini Ratna (Category-I)" Central Public Sector Enterprise under Ministry of Railways, is one of the largest neutral telecom infrastructure & ICT Solutions & Services providers in the country, owning a Pan-India optic fiber network covering several towns & cities and rural areas of the country. Along with a strong a reliable network of 61000+ RKM of Optic fibre, RailTel has two MeitY empaneled tier III data centers as well. RailTel offers a bundle of services like, MPLS VPN, Telepresence, leased line, Tower Co-location, Data center services, Project management, IT & ICT consultancy etc.