REC and SMFCL sign MoU to boost maritime infrastructure financing

New Delhi: REC Limited and Sagarmala Finance Corporation Limited (SMFCL), have signed a Memorandum of Understanding (MoU) on Wednesday at the India Maritime Week 2025 in Mumbai.

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The MoU has been formally signed between REC Limited's Executive Director (Infrastructure and Logistics) Saraswathi and Director (Finance) AC Nayak joined by SMFCL's Director (Projects) ST Selvam during the exchange of the MoU.

The purpose of this MoU is to explore collaboration and joint financing opportunities in the India’s critical maritime and allied infrastructure sectors. This collaboration marks a significant step towards leveraging the financial strengths of both institutions to accelerate and boost rapid development in India's port-led infrastructure and blue economy objectives.

Speaking on the occasion, representatives from both organisations expressed optimism about the collaboration, emphasizing its potential to contribute significantly to India’s blue economy and sustainable maritime development.

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