New Delhi: In a major financial commitment to boost infrastructure in Rajasthan, REC Limited, a Maharatna CPSU under the ministry of power and a prominent NBFC, has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan to provide ₹50,000 crore annually until 2030. This agreement, which increases the previous commitment from ₹20,000 crore, totals an investment of ₹3 lakh crore over six years.
The MoU was signed during the “Rising Rajasthan Investors meet” in the presence of Rajasthan Chief Minister Bhajan Lal Sharma; Col Rajyavardhan Rathore, Minister for Industries & Commerce, Government of Rajasthan; and Sudhansh Pant, Chief Secretary, Government of Rajasthan. The documents were exchanged by Rahul Dwivedi, Executive Director (PMD and I&L) REC, and Debasish Prusty, Secretary to the Government of Rajasthan.
This revised MoU is an update from a previous agreement signed on March 10, 2024, which initially committed ₹20,000 crore annually to the state’s infrastructure projects. With the new arrangement, REC will finance an extensive array of projects, including power projects, metros, roads and highways, airports, IT infrastructure, and sectors such as oil refinery, steel infrastructure, ports & waterways, fiber optics, telecom, health, tourism infrastructure, agriculture, and other critical infrastructure areas.
The financial influx is expected to significantly accelerate the development of Rajasthan’s infrastructure, supporting a wide range of sectors and contributing to the state’s economic growth and prosperity.
