New Delhi, Aug 25 (UNI) REC Limited, Maharatna PSU under Ministry of Power, on Sunday signed a memorandum of understanding with Jawaharlal Nehru Port Authority (JNPA) for financing up to Rs 45,000 crore for various upcoming projects, including development of Vadhavan Port.
The MoU was signed in the presence of Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways.
Rahul Dwivedi, executive director, REC signed the MoU with Unmesh Sharad Wagh, chairman of JNPA.
Sanjay Sethi, additional chief secretary (Transport and Ports), Government of Maharashtra, and other senior officials from REC & JNPA were also present.
"This MoU is to establish a framework for cooperation between JNPA and REC, whereby JNPA implements projects in the infrastructure sector of its expertise and REC shall provide the required funds," said REC in a statement.
JNPA is an undertaking of Government of India, and is a premier container handling Port, accounting for around 50 per cent of the total containerised cargo volume, across the major ports of India.
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