Rural Electrification Corporation inks pact with DVC

Rural Electrification Corporation Limited has entered into a Memorandum of Understanding (MoU) with Damodar Valley Corporation (DVC).

The pact is for extending financial assistance to the tune of Rs 4,650 crore for ongoing and upcoming projects of DVC.

In a statement, it said that the memorandum of understanding would ensure undisturbed financing to ongoing and upcoming projects of Damodar Valley Corporation on competitive terms and for extending other value added services for the next five years.

Rural Electrification Corporation Limited is engaged in other financial services and activities-other Credit granting. The Company provides finance to power sector. It finances and promotes rural electrification projects all over the country. It provides financial assistance to State Electricity Boards, State Government Departments and Rural Electric Cooperatives for rural electrification projects as are sponsored by them.

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Research Desk

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