HUDCO inks MoUs with major ports for infrastructure development

New Delhi: Housing and Urban Development Corporation Limited (HUDCO), a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, has signed three significant Memorandums of Understanding (MoUs) with major port authorities during 'India Maritime Week 2025' to support the development and modernization of India’s maritime infrastructure.

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According to a filing by the company, HUDCO signed non-binding MoUs with the Paradip Port Authority (PPA), Visakhapatnam Port Authority (VPA), and Mumbai Port Authority (MbPA) on October 28.

Under the MoU with Paradip Port Authority, HUDCO will explore and provide funding of up to Rs 5,100 crore to meet the funding requirements for new projects and refinancing of existing ones. The collaboration aims to facilitate the development, modernization, and upgradation of port and allied infrastructure through direct implementation or public-private partnership (PPP) mode. The two organisations will also organise joint conferences and workshops for capacity building.

With Visakhapatnam Port Authority, HUDCO will explore funding of up to Rs 487 crore to support new projects and refinancing or take-out financing of existing projects. The partnership will cover modernisation and upgradation of port facilities and allied infrastructure. It includes specific initiatives such as the mechanization of West Quay berths, operation and maintenance of East Quay berths, and other development works aimed at enhancing cargo handling efficiency.

The third MoU, signed with Mumbai Port Authority, pertains to the development of a “Maritime Iconic Structure” in Mumbai. This landmark project, envisioned as a symbol of India’s maritime heritage, will serve as a hub for port and shipping-related offices and a tourist attraction. Under the agreement, HUDCO will be responsible for the planning, designing, financing, and execution of the project, leveraging its extensive experience in infrastructure development.

All three MoUs, signed during India Maritime Week 2025, are part of HUDCO’s commitment to supporting the Government of India’s efforts in strengthening the nation’s maritime infrastructure and promoting sustainable urban and port development.

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