RITES signs pact with Power Finance Corporation

State-owned RITES Ltd on Friday signed a Memorandum of Understanding (MoU) with Power Finance Corporation (PFC) to explore avenues of mutual collaboration for consultancy works in various sectors.

The two entities have signed the pact to explore avenues in areas, including transport and logistics, energy, water and sanitation, communication, social and commercial infrastructure.

Transport infrastructure consultancy and engineering firm RITES will provide expertise for pre-feasibility reports, detailed project reports, transaction advisory, project management services, audits, and inspection, according to a statement.

PFC and its subsidiaries will provide financial assistance for infrastructure projects in India and abroad, it 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,'' Manobendra Ghoshal, Chief Strategy Officer at RITES, said.