Damodar Valley Corporation (DVC) today signed an MoU with Rural Electrification Company (REC) for financing ongoing and future projects.
The MoU was signed between DVC chairman Andrew W K Langstieh and REC chairman and managing director P V Ramesh in the presence of senior officials.
The MoU will ensure financing of ongoing and upcoming projects of DVC
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on the most competitive terms
for the next
five years, a DVC official said.
"We will approach REC for loan as and when required," DVC chairman Andrew W K Langstieh said.
DVC is
struggling to stay afloat until it is able to hive-off Raghunathpur thermal power project.
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