New Delhi: In a significant development, the Appointments Committee of the Cabinet (ACC) has approved the appointment of S Thirumalai Selvam as Director (Projects) at Sagarmala Finance Corporation Limited (SMFCL). Mr Selvam, who currently serves as a General Manager at Steel Authority of India Limited (SAIL), will hold the new post until his superannuation on June 30, 2029, or until further orders.
The decision follows a proposal submitted by the Ministry of Ports, Shipping and Waterways and was formalized through an official order issued by the Department of Personnel and Training (DoPT) on Saturday, September 6, 2025.
Selvam Brings Extensive PSU Experience to Strategic Role
Mr Selvam is known for his leadership and technical acumen in infrastructure and project management within the public sector. His appointment is seen as a move to bolster SMFCL’s project execution capacity, particularly in aligning with the ambitious goals of the Sagarmala Programme.
As Director (Projects), Selvam will be responsible for overseeing the planning, execution, and financial structuring of port-led development and maritime infrastructure initiatives across the country.
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Extensive Experience in Project Design and Engineering
With nearly three decades of experience at SAIL, Mr Selvam has held various strategic roles, primarily in design and engineering. He joined SAIL in September 1995 and has been instrumental in driving R&D and project innovations.
Academic Credentials
Mr Selvam holds a Master of Science (Consultancy) from the Birla Institute of Technology and Science (BITS), Pilani and an MBA in Human Resource Management from the Indira Gandhi National Open University (IGNOU).
About SMFCL and Its Role in Sagarmala Programme
Sagarmala Finance Corporation Limited (SMFCL) operates under the administrative control of the Ministry of Ports, Shipping and Waterways. It plays a critical role in mobilizing and managing funds for large-scale projects that fall under the Sagarmala Programme – India’s flagship initiative for port modernization, industrialization, and enhanced logistics.
SMFCL focuses on financing infrastructure projects that support coastal community development, port-linked industrial clusters, and improved cargo movement efficiency.
Tenure and Terms of Appointment
According to the official order, Selvam’s tenure will begin from the date of assumption of charge and continue till June 30, 2029, the date of his superannuation, or until further orders, whichever is earlier.
About Sagarmala Development Company Limited
SDCL is a public sector enterprise under the Ministry of Ports, Shipping and Waterways, Government of India. Established on August 31, 2016, SDCL was created to facilitate the implementation of the Sagarmala Programme, which aims to promote port-led development across the country. The company was incorporated with an initial authorized share capital of ₹1,000 crore and a subscribed share capital of ₹250 crore.
