RITES Ltd, a leading transport infrastructure consultancy and engineering company, signed a Memorandum of Understanding (MoU) with Power Finance Corporation (PFC) to explore ways of mutual collaboration for consultancy work in sectors such as transport and logistics, energy, water and sanitation . Communication, social and commercial infrastructure.
Under the MoU, RITES will provide expertise on pre-feasibility reports, detailed project reports, transaction advice, project management services, audits and inspections, with PFC and its affiliates proposing to provide financial support for infrastructure projects in India and abroad.
The MoU will establish a working relationship between the parties targeting specific requirements and will facilitate the development of proposals, including exploring opportunities with various governmental/semi-governmental/autonomous bodies or agencies/private entities and multilateral funding agencies such as the World Bank and Asian Development Bank and JICA.
Manobendra Ghoshal, Chief Strategy Officer of RITES, said: “Partnering with PFC will not only provide a platform to explore business opportunities in the consulting space, but also facilitate knowledge sharing in the development of Infra4Future.”
RITES Limited is a leading player in the transportation consulting and engineering sector in India with diversified services and geographic reach. The company has 49 years of experience and has completed projects in over 55 countries in Asia, Africa, Latin America, South America and the Middle East region.
Power Finance Corporation Ltd. (PFC) is a Central Public Enterprise of India owned by the Department of Energy of the Government of India. Established in 1986, it is the financial backbone of the Indian energy sector.