The Rural Electrification Corporation (REC) is likely to provide financial assistance of about Rs 300 billion to IR for electrifying its remaining network spanning 33,000 km by 2020-21. As per plans, the funds will be provided in the form of loans over a four-five-year period at an annual interest rate of 9 per cent for 8-10 years. Once the network is fully electrified, IR is expected to save Rs 105 billion annually on account of fuel saved. The MoR further plans to meet its electrification target by spending almost Rs 80 billion annually over the next four years.
ion Corporation (REC) is likely to provide financial assistance of about Rs 300 billion to IR for electrifying its remaining network spanning 33,000 km by 2020-21. As per plans, the funds will be provided in the form of loans over a four-five-year period at an annual interest rate of 9 per cent for 8-10 years. Once the network is fully electrified, IR is expected to save Rs 105 billion annually on account of fuel saved. The MoR further plans to meet its electrification target by spending almost Rs 80 billion annually over the next four years.