The Housing and Urban Development Corporation Ltd. (HUDCO), a Navratna NBFC-IFC under the Ministry of Housing and Urban Affairs, has signed six Memoranda of Understanding (MoUs) with major port authorities and maritime institutions during the ongoing Maritime Week 2025 in Mumbai. The agreements, collectively valued at ₹1.1 lakh crore, mark HUDCO’s foray into port and coastal infrastructure financing — a significant milestone in its diversification strategy.
The MoUs were executed with Syama Prasad Mookerjee Port, Kolkata; Visakhapatnam Port Authority; Paradip Port Authority, Odisha; Jawaharlal Nehru Port Authority (Mumbai); Mumbai Port Authority; and Sagarmala Finance Corporation Limited (SFCL).
Speaking on the occasion, Mr. Sanjay Kulshrestha, Chairman and Managing Director, HUDCO, said:
“HUDCO’s entry into port financing marks a new chapter in our growth journey. Through these strategic collaborations, we aim to channel ₹1.1 lakh crore into India’s maritime infrastructure to support the Sagarmala Programme and Maritime Amrit Kaal Vision 2047 — both aimed at transforming India into a global maritime hub.”
The initiative aligns with the government’s vision for port-led development under the Maritime India Vision 2030, which envisages ₹3–3.5 lakh crore investments across ports, shipping, and inland waterways. It also complements other major initiatives such as the ₹25,000 crore Maritime Development Fund (MDF), ₹24,736 crore Shipbuilding Financial Assistance Scheme (SBFAS), and ₹19,989 crore Shipbuilding Development Scheme (SbDS).
Key Partnerships and Project Highlights
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Sagarmala Finance Corporation Ltd. (SFCL): HUDCO and SFCL will jointly extend up to ₹80,000 crore over the next decade to eligible public and private projects under the Sagarmala Programme, aimed at enhancing port-led growth and reducing logistics costs.
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Jawaharlal Nehru Port Authority (JNPA): A ₹5,000 crore MoU to support refinancing of existing terminals, financing of re-awarded PPP projects, and upcoming capacity expansions.
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Vadhvan Port Project Ltd. (VPPL): Earlier this year, HUDCO signed an MoU to provide up to ₹25,000 crore for developing India’s 13th major port — the greenfield Vadhvan Port, envisioned as a gateway for global trade.
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Mumbai Port Authority (MbPA): The MoU covers planning, financing, and execution of a Maritime Iconic Structure in Mumbai — a landmark business and tourism hub celebrating India’s maritime legacy.
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Visakhapatnam Port Authority (VPA): A ₹487 crore MoU focuses on mechanization of berths, modernization under PPP mode, and operation and maintenance of liquid cargo facilities.
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Paradip Port Authority (PPA): A ₹5,100 crore MoU to finance berth mechanization, new dock complexes, and container terminals, supporting PPA’s goal to reach 400 MMT capacity by 2030.
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Syama Prasad Mookerjee Port, Kolkata (SMP-Kolkata): A ₹3,000 crore MoU for reconstruction and mechanization of berths, container terminals, and liquid cargo jetties under PPP models to boost eastern India’s maritime connectivity.
Strengthening Financial and Infrastructure Leadership
HUDCO’s entry into maritime financing comes at a pivotal moment when India’s port sector is witnessing rapid modernization, capacity enhancement, and operational efficiency — with average vessel turnaround times nearly halved.
The corporation has also reported record financial performance in FY2024–25, posting its highest-ever net profit of ₹2,709 crore, a 28% year-on-year increase, along with 32.46% growth in revenue from operations. HUDCO’s loan book expanded by 34.72%, reaching ₹1,24,828 crore, supported by prudent financial management and strategic diversification.
With these landmark agreements, HUDCO positions itself as a key enabler in India’s maritime and infrastructure transformation — anchoring growth, connectivity, and global competitiveness along the nation’s 7,500-km coastline.
