HUDCO forms key partnerships to boost maritime sector infrastructure

HUDCO signed two non-binding memorandums of understanding (MoUs) during "India Maritime Week 2025." The first MoU is with Sagarmala Finance Corporation Limited (SMFCL) to jointly finance maritime and coastal infrastructure, inland water transport, renewable energy initiatives in maritime zones, and shipbuilding/repair. The estimated cost for these collaborative projects is approximately INR 80,000 Crore over the MoU period.

The second MoU is with Syama Prasad Mookerjee Port, Kolkata (SMPA). This agreement focuses on HUDCO exploring opportunities to provide up to INR 3000 Crore in funding for SMPA's new and existing projects, including port development, modernization, and upgradation. Both MoUs aim to foster capacity and capability building through joint conferences and workshops.

These collaborations underscore HUDCO's commitment to supporting critical infrastructure development within India's maritime sector. The agreements are non-binding and represent mutual intentions to explore potential financing areas, with definitive agreements subject to due diligence and approvals.