As per an MoU inked by Rural Electrification Corporation with JNPA, it will fund up to Rs. 45,000 crore for various projects at the major port including the Vadhavan Port. Rural Electrification Corporation (REC) is a non-banking organization which provides loans to different entities for building infrastructure in the country. The maturity time limits of loans vary as per the borrower. As of 30 June 2024, REC’s loan book stands at Rs 5.30 lakh crore with a net worth of Rs 72,351 crore. Further the public sector financial institution aims at focusing on diverse portfolios including green energy projects, infrastructure segments, and tapping into global climate funds.
