"REC and RailTel Ink ₹30,000 Crore Pact for Infrastructure Boost in Railways"

State-owned REC Ltd has formalized a significant collaboration with RailTel Corporation of India through a Memorandum of Understanding (MoU), pledging a substantial financial commitment of Rs. 30,000 crore for diverse infrastructure projects over the upcoming five years.

The MoU, inked on November 9, 2023, outlines a comprehensive scope of projects, encompassing telecom, data centers, railway and metro systems, and the innovative KAVACH Train Collision Prevention System.

In a statement, REC highlighted that the MoU extends to the potential financing of international ventures related to high-speed rail, metro, IT networks, and the modernization of railway networks. This aspect comes into play during bilateral discussions with other countries and infrastructure projects in Southeast Asia and Eastern Africa, where RailTel is presently directing its focus.

T.S.C Bosh, Executive Director (Infra & Logistics) at REC, and Jasmeet Singh Marwah, Company Secretary at RailTel, officially signed the agreement in the presence of esteemed dignitaries including Vivek Kumar Dewangan, CMD of REC, and Shri Sanjai Kumar, CMD of RailTel.

Post the MoU signing, discussions ensued to explore additional collaborative opportunities, with a special emphasis on renewable energy, smart metering, and other projects aligning with REC's subsidiary, RECPDCL.

Established in 1969, REC has diversified its portfolio to include non-power sectors such as roads, expressways, metro rail, and airports. Meanwhile, RailTel, recognized as a "Mini Ratna (Category-I)" enterprise, stands as one of India's foremost telecom infrastructure providers, boasting a robust optic fiber network and data centers. This collaboration signifies a pivotal step in advancing the infrastructure landscape, with both entities poised to play integral roles in shaping India's developmental trajectory.

ET