REC Limited has signed a memorandum of understanding (MoU) with RailTel to finance up to Rs 300 billion for infrastructure projects in telecom, IT and railway signaling. This will apply to all the infrastructure projects to be executed by RailTel in the next five years. These projects will encompass a broad spectrum of domains, including data centre products and services, telecommunications and information technology products and services, railway and metro projects, and the KAVACH train collision prevention system.
The agreement extends to the possibility of financing overseas ventures related to high-speed rail, metro, IT network, and upgradation of railway networks, in accordance with bilateral country discussions and infrastructure projects in Southeast Asia and Eastern Africa, where RailTel is currently focusing.
Furthermore, the companies also engaged in detailed discussions about opportunities for collaboration and agreed to explore new areas such as renewable energy, smart metering, and other projects where RailTel and REC can work together.