REC enters into 200 million Euro Loan Agreement with German Bank KfW

Under Indo-German Financial Cooperation, both Governments agreed in 2019 to earmark the "Energy Reform Programme India II" for German funding of up to EUR 200Mn earmarked for support of reform-oriented investments in the Indian electricity distribution sector. REC would use Line of Credit to refinance investments In the distribution infrastructure of DISCOMs in the framework of and in alignment with the Revamped Distribution Sector Scheme (RDSS).

REC to use Line of Credit to re-finance RDSS long-term investments loans of upto 40% of Discoms' CAPEX under Part-A, distribution infrastructure works, of RDSS.

Shares of REC Limited was last trading in BSE at Rs. 405.85 as compared to the previous close of Rs. 394.80. The total number of shares traded during the day was 985508 in over 13759 trades.

The stock hit an intraday high of Rs. 409.00 and intraday low of 394.90. The net turnover during the day was Rs. 397805223.00.

Source : Equity Bulls

Keywords

REC INE020B01018 GermanBank KfW EuroLoanAgreement