Key Highlights
- HUDCO signed three Memorandums of Understanding during India Maritime Week 2025
- Funding support up to ₹5,100 crore for Paradip Port Authority and ₹487 crore for Visakhapatnam Port Authority
- Collaboration with Mumbai Port Authority for developing a Maritime Iconic Structure in Mumbai
- Agreements aim to boost port modernization, infrastructure development, and maritime capacity building
Housing and Urban Development Corporation Limited (HUDCO) has signed three non-binding Memorandums of Understanding (MoUs) with major Indian port authorities during India Maritime Week 2025, strengthening its role in infrastructure financing for the maritime sector.
Under the agreement with Paradip Port Authority (PPA), Odisha, HUDCO will explore and provide funding support of up to ₹5,100 crore for new and existing projects. The collaboration focuses on developing, modernizing, and upgrading port and allied infrastructure through both direct implementation and Public-Private Partnership (PPP) models. The two organizations will also organize joint workshops to enhance capacity building and technical expertise.
In a separate MoU, HUDCO partnered with Visakhapatnam Port Authority (VPA) to provide up to ₹487 crore in funding. The partnership includes financing for new projects and refinancing of existing initiatives aimed at improving cargo handling, port modernization, and infrastructure development along India’s eastern coast.
HUDCO has also joined hands with the Mumbai Port Authority (MbPA) for the development of a “Maritime Iconic Structure” in Mumbai. This landmark project will be designed to highlight India’s maritime heritage while incorporating modern, sustainable infrastructure. HUDCO will handle the project’s planning, design, financing, and execution.
These strategic collaborations reflect HUDCO’s continued commitment to advancing India’s maritime and urban infrastructure sectors. The MoUs align with the government’s vision of transforming India’s ports into globally competitive and efficient hubs for trade and development.