REC Limited, a Maharatna Central Public Sector Enterprise operating under the Ministry of Power, organized a conference on ‘Financing for Roads and Highways’ in New Delhi on January 8, 2024. The primary objective of the event was to bring together key stakeholders, comprising representatives from the government and industry. Participants included the Ministry of Road Transport & Highways, National Highways Authority of India, Indian Roads Congress, National Highways Builders Federation, State Road Development organizations, industry policymakers, and developers. The conference provided a platform for these stakeholders to engage in discussions and deliberations on the financing aspects of the roads and highways sector.
During the conference, significant strides were made with the signing of four Memoranda of Understanding (MoUs) totaling Rs. 16,000 Crore. Dilip Buildcon Limited, GMR Power & Urban Infra, CDS Infra Projects Limited, and DP Jain & Co. Infrastructure Pvt. Ltd. were the signatories.
Addressing the participants, Anurag Jain, Secretary of the Ministry of Road Transport & Highways, shared the Ministry’s vision for sector development and the facilitation of road project financing. He reflected on the improvement in the quality of roads in India over recent years and expressed hope for the collaborative growth of REC Limited and the Ministry.
In the welcome address, Vivek Kumar Dewangan, CMD of REC Limited, provided an overview of REC’s loan portfolio and outlined the company’s vision for financing non-power infrastructure, with a specific emphasis on the road sector. Dewangan underscored the pivotal role of the Roads and Highways industry in India’s economic progress and reiterated REC Limited’s commitment to being a supportive partner.
The conference featured presentations from REC and various Road and Highways agencies, shedding light on unique perspectives regarding financing challenges and opportunities within the sector. The event facilitated dialogue between lenders and borrowers through an open forum discussion, addressing queries from Road and Highway developers.
REC Limited, functioning as a Non-Banking Financial Company (NBFC) with a focus on Power Sector Financing and Development across India, has been operational since 1969. Beyond its five-decade legacy, REC Limited has diversified into financing the infrastructure and logistics sector. REC’s substantial loan book, standing at Rs 4.54 Lakh Crore at the end of the first quarter of the current financial year, illuminates approximately every fourth bulb in India. (PIB)
