Indian Railway Finance Corporation Ltd. (IRFC), a Schedule ‘A’/Miniratna Public Sector Enterprise under the Ministry of Railways (MoR), has signed a Memorandum of Understanding (MoU) with RITES Ltd., the company on Thursday announced through an exchange filing.
The MoU aims for identifying mutual areas of collaboration for expanding IRFC’s role in providing financial assistance to projects/ institutions that have got backward and or forward linkages with Railways and by RITES providing assistance to IRFC in ascertaining the financial & technical viability of projects, providing advisory & consultancy services.
"IRFC, along with RITES, will not only strengthen the financial ecosystem for Railway Infrastructure projects but also contribute to the overall growth and modernization of the Indian Railways. Partnering with a premium and established consultancy institution like RITES will enhance IRFC's appraisal and marketing capabilities in exploring funding opportunities in various sectors supporting Railway infrastructure,” said Shelly Verma, CMD (addl. Charge) & Director (Finance) IRFC.
Indian Railway Finance Corporation Ltd. Shares
The shares of Indian Railway Finance Corporation Ltd. on Thursday at 3:30pm IST were at ₹34.85, down by 1.13 percent.