Gurugram, 18th October 2023: REC Limited signed an MoU with Bank of India (BoI) on Wednesday to explore the possibility of funding the Power Sector and Infrastructure & 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.
T.S.C. Bosh, Executive Director (Infra & Logistics), REC and Nitin G. Deshpande, CGM, BoI signed the MoU in the presence of Vivek Kumar Dewangan, CMD, REC, Rajneesh Karnatak, MD & CEO, BoI, Ajoy Choudhury, Director (Finance), REC and other senior officials from REC and BoI.
