REC Limited has signed a significant MoU with Jawaharlal Nehru Port Authority (JNPA) to finance up to ₹45,000 crore for various upcoming projects, including the development of Vadhavan Port. The MoU was signed by Rahul Dwivedi, Executive Director of REC, and Unmesh Sharad Wagh, Chairman of JNPA, in the presence of Sarbananda Sonowal, Union Minister for Ports, Shipping, and Waterways. Sanjay Sethi, Additional Chief Secretary (Transport and Ports), Government of Maharashtra, along with other senior officials from REC and JNPA, were also present at the signing.
REC stated in a press release that the MoU aims to “create a collaborative framework between JNPA and REC, enabling JNPA to execute infrastructure projects within its area of expertise. ”
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JNPA, a Government of India undertaking, is a leading container handling port responsible for around 50% of the total containerised cargo volume across India’s major ports.
