REC Ltd to Finance 745,000 Crore for JNPA Infrastructure Projects

REC Ltd, a Maharatna CPSE under the administrative control of Ministry of Power, has signed a non-binding MoU with Jawaharlal Nehru Port Authority (JNPA) for financing up to 745,000 crore for various upcoming projects of JNPA, including the development of Vadhavan Port. This is in the nature of general ordinary business and the Company has not sanctioned any loan or financial assistance for the project mentioned in the MoU so far. REC Limited promptly intimates all events and information that may have a probable bearing on the operation / performance of the Company including all price sensitive information as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This financing is not expected to have any material impact on the Company as it is part of its core business of financing projects in the Power, Infrastructure & Logistics Sector.