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Housing and Urban Development Corporation Ltd (HUDCO) entered into an initial agreement with the Jawaharlal Nehru Port Authority (JNPA) earlier this week to explore joint efforts in port infrastructure development projects valued at around INR 5,000 crore. The partnership aims to facilitate financing and refinancing opportunities for both existing and upcoming projects at Jawaharlal Nehru Port, highlighting HUDCO's growing focus on infrastructure beyond housing initiatives.
Housing and Urban Development Corporation Ltd (HUDCO) signed a Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) earlier this week to cooperate on port infrastructure projects estimated to be worth INR 5,000 crore. In a recent regulatory filing, HUDCO stated that the non-binding MoU was established to promote collaboration in infrastructure development, as well as financing and refinancing of projects within Jawaharlal Nehru Port. Advertisement
The agreement was formalised by Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, and Unmesh Sharad Wagh, Chairman of JNPA. HUDCO mentioned that the understanding would help identify and develop key infrastructure opportunities that align with the government's broader port modernisation and logistics enhancement initiatives.
As part of its ongoing strategy, HUDCO continues to expand its financial support beyond housing to include significant urban and industrial infrastructure projects. The collaboration with JNPA reflects HUDCO's interest in diversifying its portfolio while strengthening its role in national development.
The partnership between HUDCO and JNPA marks an important step towards integrating housing finance expertise with large-scale port infrastructure development. Through this collaboration, both entities intend to enhance the efficiency and capacity of port operations while exploring long-term financing avenues for sustainable infrastructure growth. The MoU signifies HUDCO's continued commitment to supporting vital national projects that drive urban and industrial development.
Source - PTI
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