Power PSU REC Ltd and public lender Punjab National Bank on Tuesday inked an agreement to co-finance projects in power, infrastructure and logistics projects.
The two entities will jointly finance loans worth Rs 55,000 crore, REC said in a statement.
“REC Limited signed an MoU with Punjab National Bank (PNB) on Tuesday to jointly explore the possibility to fund the Power Sector and Infrastructure and Logistics Sector projects under the consortium arrangement. REC and PNB will associate with each other to co-finance loans amounting to Rs 55,000 crore over the next three years,” the statement said.
