Housing and Urban Development Corporation Limited (HUDCO) has announced a major foray into maritime infrastructure financing by signing six Memorandums of Understanding (MoUs) worth a total of ₹1.1 lakh crore with leading port authorities across India. The agreements, formalized during Maritime Week 2025 in Mumbai, underline HUDCO’s commitment to advancing the government’s vision of port-led economic growth under the Sagarmala and Maritime Amrit Kaal Vision 2047 initiatives.
The MoUs were inked with the Syama Prasad Mookerjee Port (Kolkata), Visakhapatnam Port Authority, Paradip Port Authority, Jawaharlal Nehru Port Authority, Mumbai Port Authority, and Sagarmala Finance Corporation Limited (SFCL). HUDCO Chairman Sanjay Kulshrestha stated that the move will strengthen India’s maritime ecosystem and accelerate the nation’s transformation into a global logistics and shipping hub.
Under the agreement, HUDCO and SFCL will together extend up to ₹80,000 crore in financial support to eligible public and private sector projects. Specific funding allocations include ₹25,000 crore for the upcoming greenfield Vadhvan Port, ₹5,000 crore for Jawaharlal Nehru Port, ₹5,100 crore for Paradip Port, ₹487 crore for Visakhapatnam Port, and ₹3,000 crore for Syama Prasad Mookerjee Port.
This strategic collaboration reinforces India’s port-led development roadmap, aligning with the Maritime India Vision 2030, which envisages investments worth ₹3–3.5 lakh crore across ports, shipping, and inland waterways. The initiative will also leverage government-backed programs such as the Maritime Development Fund and the Shipbuilding Financial Assistance Scheme, promoting greater participation from both public and private stakeholders in the nation’s maritime growth journey.
