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Housing and Urban Development Corporation Ltd. (HUDCO) has signed Memorandums of Understanding (MoUs) worth around INR 1 lakh crore with six major port authorities to finance key maritime infrastructure projects across India. The agreements aim to support the Sagarmala Programme, Maritime India Vision 2030, and Maritime Amrit Kaal Vision 2047, focusing on improving port capacity, logistics, and connectivity. HUDCO's move marks its entry into port financing, aligning with India's long-term plans to become a leading global maritime and trade hub.
Housing and Urban Development Corporation Ltd. (HUDCO), a Navratna public sector enterprise, has entered the maritime sector through a set of MoUs with six leading port authorities. These include Syama Prasad Mookerjee Port, Kolkata (SMPK), Visakhapatnam Port Authority (VPA), Paradip Port Authority (PPA), Jawaharlal Nehru Port Authority (JNPA), Mumbai Port Authority (MbPA), and Sagarmala Finance Corporation Limited (SFCL). Advertisement
Under these MoUs, HUDCO plans to provide financial assistance worth nearly INR 1.1 lakh crore over the next ten years for various port-led development projects. The financing will be directed toward port modernization, berth mechanisation, capacity enhancement, and improving connectivity between ports and industrial clusters.
As part of the agreements, HUDCO and Sagarmala Finance Corporation Limited (SFCL) will jointly extend up to INR 80,000 crore to eligible public and private projects linked to port development. The MoU with Jawaharlal Nehru Port Authority includes a financing commitment of INR 5,000 crore to support refinancing of existing terminals, re-awarded PPP projects, and upcoming expansion works.
With the Paradip Port Authority in Odisha, HUDCO has agreed to provide funding of INR 5,100 crore for projects that include new dock construction, berth mechanisation, and container terminal development, aiming to expand the port's capacity to around 400 million metric tonnes by 2030. The MoU with Syama Prasad Mookerjee Port, Kolkata involves an investment of about INR 3,000 crore to upgrade existing infrastructure, reconstruct berths, and mechanise liquid cargo jetties under the PPP model.
At Visakhapatnam Port Authority, HUDCO will contribute around INR 487 crore for mechanisation and modernisation of berths and liquid cargo facilities. Meanwhile, at Mumbai Port Authority, HUDCO will assist in planning and financing an upcoming "Maritime Iconic Structure" project, envisioned as a landmark symbolising Mumbai's maritime heritage.
HUDCO's recent financial performance supports its expansion into new infrastructure segments. The corporation reported a net profit of INR 2,709 crore for FY2024-25, reflecting a 28% year-on-year rise, while its loan book expanded by 34.7% to INR 1,24,828 crore. With a strong balance sheet and increasing demand for infrastructure financing, HUDCO is now positioning itself as a key partner in national-level development projects beyond the housing and urban sectors.
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