REC Limited Joins Forces with Sagarmala Finance Corporation to Enhance Maritime Infrastructure
In a significant move to bolster India’s maritime sector, REC Limited has partnered with Sagarmala Finance Corporation Limited (SMFCL) through a Memorandum of Understanding (MoU). This strategic alliance was formalized at the India Maritime Week 2025, held on October 29 in Mumbai.
The ceremonial signing of the MoU featured key representatives from both organizations. Smt. Saraswathi, Executive Director of Infrastructure and Logistics at REC Limited, and Shri A. C. Nayak, Director of Finance at SMFCL, inked the agreement. Shri S. T. Selvam, Director of Projects at SMFCL, was also present during the event, highlighting the collaborative spirit of the partnership.
Objectives of the MoU
The primary aim of this MoU is to foster joint efforts in financing projects within India’s crucial maritime and associated infrastructure domains. By combining their financial resources and expertise, REC Limited and SMFCL intend to:
- Promote rapid development in port-led infrastructure
- Strengthen the framework of India’s blue economy
This collaboration is expected to catalyze significant advancements in infrastructure projects, enhancing economic growth and supporting the overarching goals of India’s maritime strategy.
The partnership between REC Limited and Sagarmala Finance Corporation Limited underscores a shared commitment to enhancing the maritime infrastructure which is vital for the nation’s economic development.
