GURUGRAM (Metro Rail News): RITES Ltd, a leading transport infrastructure consultancy and engineering firm, has entered into a memorandum of understanding (MoU) with Power Finance Corporation (PFC) to explore avenues of mutual collaboration in consultancy services. The collaboration aims to support infrastructure projects in sectors including Transport & Logistics, Energy, Water & Sanitation, Communication, Social, and Commercial Infrastructure.
Following the terms of the MoU, RITES will offer its knowledge in pre-feasibility reports, detailed project reports, transaction advisory, project management services, audits, and inspections. In addition, domestically and internationally, infrastructure projects will receive financial support from PFC and its companies.
The MoU establishes a working relationship between the two entities, enabling them to focus on specific requirements and jointly develop proposals. This collaboration will explore opportunities with government bodies, semi-government organizations, autonomous bodies, private entities, and multilateral funding agencies such as the World Bank, Asian Development Bank, and JICA.
Chief Strategy Officer at RITES, Manobendra Ghoshal, expressed his excitement for the collaboration by saying, “The partnership with PFC will not only provide a platform to explore business opportunities in the consultancy domain but also facilitate knowledge sharing in developing Infra4Future.”
This collaboration between RITES Ltd and Power Finance Corporation holds excellent potential for driving infrastructure development in India and beyond. With their combined expertise and resources, the two organizations aim to contribute significantly to the growth and modernization of critical sectors, ensuring sustainable and efficient infrastructure solutions for the future.