RITES, PFC sign MoU to foster infra in transport & logistics sectors

RITES Ltd, a transport infrastructure consultancy and engineering firm, signed a memorandum of understanding (MoU) with Power Finance Corporation (PFC) to explore avenues of mutual collaboration for consultancy works in sectors such as Transport & Logistics, Energy, Water & Sanitation, Communication, Social and Commercial Infrastructure. As part of the MoU, RITES will provide expertise for Pre-Feasibility Reports, Detailed Project Reports, Transaction Advisory, Project Management services, Audits, and Inspection, where PFC and its subsidiaries propose to provide financial assistance 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 at various Government/Semi-Government/autonomous bodies or authorities/private entities and multilateral funding agencies such as World Bank, Asian Development Bank and JICA. Manobendra Ghoshal, Chief Strategy Officer, RITES, said, “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.”