REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, hosted a conference on ‘Financing for Roads and Highways’, to bring all key stakeholders under one roof and to discuss financing aspects of the sector. The conference was held in New Delhi on 8th January 2024 and was attended by key stakeholders from the government and industry, including 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.
During the conference, four MoUs worth Rs. 16,000 Crore were signed, with Dilip Buildcon Limited, GMR Power & Urban Infra, CDS Infra Projects Limited & DP Jain & Co. Infrastructure Pvt. Ltd.
Addressing the participants, the Secretary, of the Ministry of Road Transport & Highways, Shri Anurag Jain spoke of the Ministry’s vision for the development of the sector & ease of financing road projects. He talked about India’s roads and highways journey and said the quality of roads has improved significantly over the last few years. Along with this, he hoped that REC Limited and MoRTH would grow together.
In the welcome address, CMD, REC Limited, Shri Vivek Kumar Dewangan gave an overview of REC’s loan portfolio, along with the Company’s vision for financing non-power infrastructure, with a special focus on the road sector. Shri Dewangan said that the Roads and Highways industry in India plays a pivotal role in our economic progress. “The Government’s initiatives like Bharatmala, Sagarmala, and National Infrastructure Pipeline have set the stage for expansion in the Roads sector. The need for customized debt financing solutions has never been more pressing. We, at REC Limited, are committed to being a partner in this journey.”
The conference featured presentations from REC and the Road and Highways agencies, highlighting their unique perspectives on financing challenges and opportunities within the sector. It provided an opportunity for the presentation of both lenders’ and borrowers’ perspectives, followed by an open forum discussion, in which queries of Road and Highway developers were addressed.
REC Limited is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years of operations. It provides financial assistance to state electricity boards, state governments, central and state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy. REC’s funding illuminates every fourth bulb in India. REC has recently diversified into financing infrastructure and the logistics sector as well. The Loan Book of REC stands at Rs 4.54 Lakh Crore, at the end of the first quarter of the current financial year.
Disclaimer: This is an official press release by Pib.