REC Limited and Kannur International Airport Limited (KIAL) have announced a financial partnership today. Under this partnership, REC will extend financial assistance to KIAL.
REC Limited and Kannur International Airport Limited (KIAL) have announced a financial partnership today. Under this partnership, REC will extend financial assistance to KIAL.
An agreement was executed by Mr. Dinesh Kumar C, Managing Director, KIAL and Mr. M Uday Kumar, Chief Program Manager, REC LImited, Trivandrum on 25th September 2024 to give effect to this partnership.
The financing will unlock new avenues of growth for KIAL, reduce cost of borrowing and facilitate an enhanced experience for the user of Kannur International Airport.
REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC).
REC has assets under management of nearly Rs 5.3 Lakh Crore and is playing a stellar role in development and modernisation of infrastructure.
Kannur International Airport Limited (KIAL) owns and operates a world class international airport serving the city of Kannur and acts as a gateway to North Kerala and neighbouring regions of Tamil Nadu and Karnataka.
