New Delhi: 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 discuss financing aspects of the sector. The conference took place in New Delhi on 8th January 2024 and was attended by key stakeholders from the government and industry, including representatives 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, and DP Jain & Co. Infrastructure Pvt. Ltd.
Addressing the participants, Secretary of the Ministry of Road Transport & Highways, Anurag Jain, spoke about the Ministry’s vision for the sector’s development and the ease of financing road projects. He discussed India’s roads and highways journey, stating that the quality of roads has significantly improved over the last few years. Additionally, he expressed hope for the mutual growth of REC Limited and MoRTH.
In the welcome address, CMD of REC Limited, Vivek Kumar Dewangan, provided an overview of REC’s loan portfolio and the company’s vision for financing non-power infrastructure, with a special focus on the road sector. Dewangan emphasized 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. He stressed the need for customized debt financing solutions and reaffirmed REC Limited’s commitment 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 addressing queries from Road and Highway developers.
REC Limited, established in 1969, is an NBFC focusing on Power Sector Financing and Development across India. With over fifty years of operations, REC Limited 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, including Generation, Transmission, Distribution, and Renewable Energy. REC’s funding powers every fourth bulb in India. Recently, REC has diversified into financing the infrastructure and logistics sector as well. At the end of the first quarter of the current financial year, the Loan Book of REC stands at Rs 4.54 Lakh Crore.