Rural Electrification Corp (REC) is looking at overseas business, starting with neighbouring countries, to supplement revenue from its traditional business of lending to rural power projects, chairman PV Ramesh told ET in an interview.
The state-run company will soon debut in Africa and SAARC countries with consultancy and project management services and gradually get into project financing as part of its diversification plan, he said.
“We have a completely new strategy for overseas markets. We are in advanced state of discussion to participate in hydropower projects in Nepal and Bhutan. We are talking to ministry of external affairs and Exim Bank to explore other opportunities in the neighbourhood and Africa,” he said. Read More…
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