HUDCO’s entry into port financing comes at a strategic juncture with the Maritime India Vision 2030, which aims to invest ₹3-3.5 lakh crore in ports, shipping and inland waterways.HUDCO has signed MoUs worth over ₹1 lakh crore to promote the development of India’s port infrastructure. Under these it will finance six port projects.
HUDCO signed MoU with Shyama Prasad Mukherjee Port, Kolkata, Visakhapatnam Port Authority, Paradip Port Authority, Odisha, Jawaharlal Nehru Port Authority (Mumbai), Mumbai Port Authority and Sagarmala Finance Corporation Limited. This is a major milestone in HUDCO’s efforts to expand its financing portfolio in marine and coastal infrastructure.
Speaking about this, HUDCO CMD Sanjay Kulshrestha said, “HUDCO’s entry into port financing is a new chapter in our growth journey. Through these strategic collaborations, we aim to infuse ₹1.1 lakh crore into India’s maritime infrastructure to support the Sagarmala program and the Maritime Amrit Kaal Vision 2047, both of which aim to transform India into a global maritime hub.”
HUDCO’s entry into port financing comes at a strategic juncture with the Maritime India Vision 2030, which aims to invest ₹3-3.5 lakh crore in ports, shipping and inland waterways. Government initiatives, such as the ₹25,000 crore Maritime Development Fund, the ₹24,736 crore Shipbuilding Financial Assistance Scheme and the ₹19,989 crore Shipbuilding Development Scheme (SBDS), are aimed at strengthening port-led development, enhancing shipbuilding capacity and promoting sustainable maritime infrastructure.
