HUDCO's Port Power Play: ₹1.1 Lakh Cr Investment Signed

The Housing and Urban Development Corporation (HUDCO) has signed memorandums of understanding (MoUs) valued at over ₹1 lakh crore to finance six major port projects across India.

The agreements were inked with leading maritime entities, including the Syama Prasad Mookerjee Port (Kolkata), Visakhapatnam Port Authority, Paradip Port Authority, Jawaharlal Nehru Port Authority (Mumbai), Mumbai Port Authority, and the Sagarmala Finance Corporation. This strategic move marks HUDCO’s foray into financing maritime and coastal infrastructure.

HUDCO Chairman and Managing Director Sanjay Kulshrestha stated that these collaborations will help channel ₹1.1 lakh crore into strengthening India’s maritime infrastructure, supporting the government’s Sagarmala Programme and Maritime Amrit Kaal Vision 2047, both aimed at transforming India into a global maritime hub.

The initiative also aligns with the Maritime India Vision 2030, which targets investments of ₹3–3.5 lakh crore in ports, shipping, and inland waterways, further promoting port-led development and sustainable maritime growth across the nation.

News by Rahul Yelligetti.