New Delhi: Housing and Urban Development Corporation Limited (HUDCO), a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, has inked three landmark Memorandums of Understanding (MoUs) with major port authorities during India Maritime Week 2025. The agreements aim to boost infrastructure financing, modernization, and sustainable development across key ports in India.
Major Collaboration with Paradip Port Authority
Under the MoU with Paradip Port Authority (PPA), HUDCO will explore and provide funding support of up to ₹5,100 crore. The financial assistance will cater to new infrastructure projects as well as the refinancing of existing ones.
The collaboration focuses on the development, modernization, and upgradation of port and allied facilities, potentially through public-private partnership (PPP) models. Additionally, HUDCO and PPA will jointly organize workshops and conferences to promote knowledge exchange and capacity building within the maritime sector.
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Funding Support for Visakhapatnam Port Authority
In partnership with the Visakhapatnam Port Authority (VPA), HUDCO will explore funding of up to ₹487 crore to enhance port facilities and operations. The agreement encompasses modernization initiatives such as the mechanization of West Quay berths, operation and maintenance of East Quay berths, and other development works aimed at improving efficiency in cargo handling and port logistics.
“Maritime Iconic Structure” Planned for Mumbai
The third MoU, signed with the Mumbai Port Authority (MbPA), focuses on developing a “Maritime Iconic Structure” — a landmark project that will symbolize India’s maritime heritage. Envisioned as a major attraction and operational hub, the structure will house port and shipping offices while also serving as a cultural and tourist destination. HUDCO will lead the planning, design, financing, and execution of the project, bringing in its long-standing experience in infrastructure development.
A Step Toward Modern and Sustainable Ports
These agreements underscore HUDCO’s ongoing commitment to supporting the Government of India’s vision of strengthening maritime and urban infrastructure. The initiatives are expected to significantly enhance the capacity, efficiency, and global competitiveness of India’s major ports.
About HUDCO
Established in 1970, Housing and Urban Development Corporation Limited (HUDCO) is a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs. HUDCO specializes in providing long-term finance for housing and urban infrastructure projects across India. Over the decades, it has played a pivotal role in promoting planned urban development, sustainable infrastructure, and inclusive growth across the nation.
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