1st to 10th January 2024 - REC LIMITED SIGNS MOU WITH RAIL VIKAS NIGAM LIMITED

Question 1

What two companies have signed a Memorandum of Understanding (MoU)?

Answer 1

REC Limited and Rail Vikas Nigam Limited (RVNL)

Question 2

What is the primary objective of this MoU?

Answer 2

To finance infrastructure projects to be executed by RVNL over the next 5 years.

Question 3

What is the total value of financing outlined in the MoU?

Answer 3

Up to Rs 35,000 crores

Question 4

What types of infrastructure projects are covered under the MoU?

Answer 4

Multi-modal logistics hubs, rail infrastructure projects, road, port, and metro projects.

Question 5

Why is RVNL a suitable partner for these infrastructure projects?

Answer 5

RVNL has experience in railway projects and has expanded into related infrastructure sectors like roads, ports, irrigation, and metro projects.

Question 6

What is the classification of REC Limited?

Answer 6

REC Limited is a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power in India.

Question 7

What is the role of RVNL in Indian Railways?

Answer 7

RVNL, a Schedule ‘A’ Navratna CPSE under the Ministry of Railways, executes around 30% of Indian Railways’ infrastructure needs.