In Short : REC Limited has orchestrated a conference focused on financing within the Roads and Highways sector. This initiative serves as a platform for discussions on funding strategies, highlighting the crucial role of financial mechanisms in supporting infrastructure development and maintenance in the transportation sector.
In Detail : 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 from 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, Secretary, 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, 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.”
