REC Ltd.

Rural Electrification Corporation (REC) has appointed REC Transmission Projects Company (RECTPCL), its wholly owned subsidiary company, to act as bid process coordinator (BPC) for transmission project namely Package C: Evacuation System for Vizag-Vemagiri Projects-Hinduja (1040 MW): Transmission Scheme (a) Generation switchyard-Vemagiri-II Pooling Station 400 kV D/C (Quad) line; and (b) Khamam (new) - N' Sagar 400 kV D/C line.

Further, to initiate the work relating to BPC, RECTPCL is in the process to incorporate a project specific special purpose vehicle (SPV) as it’s wholly owned subsidiary company for above mentioned transmission project.

Since RECTPCL is a wholly owned subsidiary of REC, the board of directors of REC in its 380th meeting held on November 10, 2011, approved a proposal for incorporation of a project specific SPV as subsidiary company of RECTPCL, which will also be a subsidiary company of REC in terms of the provisions of section 4(1) (c) of the Companies Act, 1956.

Rural Electrification Corporation is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.