Housing and Urban Development Corporation Ltd (HUDCO) has taken a major step into maritime financing, signing six Memoranda of Understanding (MoUs) with leading port authorities to fund ₹1.1 lakh crore worth of port infrastructure projects over the next decade. The agreements, inked during Maritime Week 2025 in Mumbai, mark HUDCO’s strategic entry into the port and logistics sector, aligning with the government’s Sagarmala Programme and the Maritime Amrit Kaal Vision 2047.
The MoUs were signed with Syama Prasad Mookerjee Port (Kolkata), Visakhapatnam Port Authority, Paradip Port Authority, Jawaharlal Nehru Port Authority (JNPA), Mumbai Port Authority, and Sagarmala Finance Corporation Ltd (SFCL).
HUDCO Chairman Sanjay Kulshrestha said the initiative is aimed at accelerating India’s transformation into a global maritime hub by strengthening coastal infrastructure, logistics, and connectivity.
Under the new framework, HUDCO and Sagarmala Finance Corporation will jointly extend up to ₹80,000 crore in financial assistance to eligible public and private port-led development projects. Additional funding commitments include ₹25,000 crore for the upcoming greenfield Vadhvan Port, ₹5,000 crore for JNPA, ₹5,100 crore for Paradip Port, ₹3,000 crore for Syama Prasad Mookerjee Port, and ₹487 crore for Visakhapatnam Port.
This move supports the government’s broader maritime infrastructure goals outlined in the Maritime India Vision 2030, which anticipates ₹3–3.5 lakh crore in investments across ports, shipping, and inland waterways. The effort is further backed by initiatives such as the Maritime Development Fund and the Shipbuilding Financial Assistance Scheme, reinforcing India’s commitment to developing world-class maritime and port infrastructure.
