REC has entered into an MoU with Rail Vikas Nigam Ltd (RVNL) to finance up to Rs. 35,000 crore worth infrastructure projects to be executed by RVNL over the next five years, according to an official statement on Wednesday.
These projects constitute multi-modal logistics hub projects, rail infrastructure projects, road, port, and metro projects.
Director (Finance), REC, Ajoy Choudhury and Director (Operations), RVNL, Rajesh Prasad signed the MoU.
REC Limited, a Maharatna CPSE establis...
Rail Vikas Nigam lines up Rs 35,000 cr from REC for big projects
Coal India Ltd (CIL) has devised a strategic plan to phase out imports of costly heavy mining machinery and replace it with domestically manufactured equipment over the next six years, the Coal Ministry said on Thursday.
Currently, CIL imports high-capacity equipment, such as Electric Rope Shovels, Hydraulic Shovels, Dumpers, Crawler Dozers, Drills, Motor Graders, and Front-End Loaders Wheel Dozer, valued at Rs 3,500 crores, with additional expenses of Rs 1000 crores in customs duty.
An...
CIL to buy more India-made machinery, phase out imports in 6 years