REC Ltd Signed Agreement with Nagaland Government to Implement RDSS Scheme – EQ Mag
REC Limited has signed an agreement with the state government to implement the Rural Electricity Distribution System Strengthening (RDSS) scheme.
NEW DELHI : REC Limited has signed an agreement with the state government to implement the Rural Electricity Distribution System Strengthening (RDSS) scheme In a move aimed at improving the quality, reliability, and affordability of power supply in the Nagaland region. The agreement was signed in the presence of senior officials from both parties.
The RDSS scheme is designed to create a financially sustainable and operationally efficient distribution sector in rural areas, with the aim of providing an uninterrupted power supply to consumers.
Under the scheme, improvements will be made to the existing distribution infrastructure, including the installation of new transformers and meters, and the upgrade of power lines.
This is an important step towards creating a reliable and sustainable power supply system that will benefit consumers in rural areas.”
The implementation of the RDSS scheme is part of the Government of India’s efforts to improve electricity access in rural areas and is expected to have a positive impact on the state’s economy by promoting economic growth and development.
REC LIMITED
REC came into being in 1969 to articulate a response to the pressing exigencies of the nation. During the time of severe drought, the leaders sought to reduce the dependency of agriculture on monsoons by energizing agricultural pump sets for optimized irrigation.
Thereafter, REC Limited has ventured into newer paths and expanded our horizons to emerge today, as a leader in providing financial assistance to the power sector in all segments, be it Generation, Transmission, or Distribution.
REC Limited are Maharatna company under the Ministry of Power. REC Limited fund business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings, on our own.
Domestically, REC Limited holds the highest credit ratings from CRISIL, ICRA, IRRPL, and CARE, and internationally REC Limited is rated at par with the sovereign ratings.
Under the discerning leadership of highly qualified and experienced professionals, which has effectively harnessed the individual talents of all our employees, we have maintained consistent profit margins and paid dividends each year since fiscal 1998. We have thus propelled ourselves to a net worth of over ?50,000 crore (as on 31st March 2022).
Source: PTI
