REC Limited Hosts Key Conference on Financing for Roads & Highways Sector
REC Limited, a leading Central Public Sector Enterprise under the Ministry of Power, orchestrated a pivotal conference, ‘Financing for Roads and Highways,’ aimed at convening key stakeholders to deliberate on the financial aspects of the sector. The conference, which took place in New Delhi on January 8, 2024, witnessed the participation of significant figures from both the government and the industry. Attendees included representatives from the Ministry of Road Transport & Highways, National Highways Authority of India, Indian Roads Congress, National Highways Builders Federation, State Road Development organizations, policymakers, and developers.
During the conference, notable developments unfolded, as four MoUs amounting to Rs. 16,000 Crore were signed. The signatories included Dilip Buildcon Limited, GMR Power & Urban Infra, CDS Infra Projects Limited, and DP Jain & Co. Infrastructure Pvt. Ltd.
Addressing the participants, Secretary of the Ministry of Road Transport & Highways, Shri Anurag Jain, shared insights into the ministry’s vision for sector development and streamlined financing for road projects. He commended the significant improvement in the quality of India’s roads over recent years and expressed optimism about the collaborative growth of REC Limited and the Ministry of Road Transport & Highways.
In his welcome address, CMD of REC Limited, Shri Vivek Kumar Dewangan, offered an overview of REC’s loan portfolio and emphasized the company’s vision for financing non-power infrastructure, with a particular emphasis on the road sector. Shri Dewangan stressed the pivotal role of the Roads and Highways industry in India’s economic progress, citing government initiatives like Bharatmala, Sagarmala, and the National Infrastructure Pipeline that have paved the way for sector expansion. He reaffirmed REC Limited’s commitment to being a reliable partner in this journey.
The conference featured insightful presentations from REC and Road and Highways agencies, shedding light on their unique perspectives on financing challenges and opportunities within the sector. It facilitated an open forum discussion, providing a platform for both lenders and borrowers to address queries from Road and Highway developers.
Established in 1969, REC Limited, an NBFC focusing on Power Sector Financing and Development, has played a pivotal role in financing projects across India’s power sector. With over fifty years of operations, REC Limited has recently diversified into financing the infrastructure and logistics sector. The Loan Book of REC currently stands at Rs 4.54 Lakh Crore at the end of the first quarter of the current financial year, signifying its impactful contribution to the nation’s development.
