Housing and Urban Development Corporation (HUDCO) has signed memorandums of understanding (MoUs) worth over Rs one lakh crore to fund six major port projects in India.

The agreements involve key maritime entities, including Syama Prasad Mookerjee Port, Kolkata, Visakhapatnam Port Authority, Paradip Port Authority, Jawaharlal Nehru Port Authority (Mumbai), Mumbai Port Authority, and Sagarmala Finance Corporation. This move marks Hudco’s expansion into financing maritime and coastal infrastructure. HUDCO's CMD, Sanjay Kulshrestha, emphasised that these partnerships will help channel Rs 1.1 lakh crore into the country’s maritime infrastructure, supporting the government’s Sagarmala Programme and Maritime Amrit Kaal Vision 2047, which aim to transform India into a global maritime hub.

The timing aligns with the Maritime India Vision 2030, which targets Rs three to 3.5 lakh crore in investments across ports, shipping, and inland waterways. The government’s additional schemes are aimed at enhancing port-led growth and sustainable maritime infrastructure.