The Housing and Urban Development Corporation Ltd. (HUDCO), a notable Navratna non-banking financial company and infrastructure finance corporation, has embarked on a substantial venture to enhance India’s port infrastructure by signing agreements with several key port authorities. This significant move was announced during the Maritime Week 2025 festivities in Mumbai. These agreements involve a whopping investment of ₹1.1 lakh crore spanning the next ten years, reflecting the government’s ambitious vision, championed by the Hon’ble Prime Minister, to escalate port-based development and fully utilize the nation’s extensive coastal and waterway resources.
Sanjay Kulshrestha, the Chairman and Managing Director of HUDCO, expressed that venturing into port financing opens a new chapter for HUDCO and is a stride towards fulfilling the Maritime Amrit Kaal Vision 2047 and the Sagarmala Programme. These initiatives are designed to position India as a pivotal maritime center on the global stage.
The strategic funding is expected to significantly modernize the maritime sector, enhancing both its capacity and efficiency. Notably, the improvements in operational efficiencies have already halved the average time ships spend in port, positioning India more competitively in global maritime logistics. This comes as the Maritime India Vision 2030 projects an investment need of up to ₹3.5 lakh crore in the domains of ports, shipping, and inland waterways.
To foster this growth, HUDCO is not only promoting substantial investments in key projects but also collaborating with major port authorities and financial institutions to bolster the maritime infrastructure: – Together with Sagarmala Finance Corporation Ltd. (SFCL), HUDCO plans to invest up to ₹80,000 crore to support both public and private projects that aim at reducing logistical costs and promoting port-led development. – A collaboration with Jawaharlal Nehru Port Authority (JNPA) includes an investment of ₹5,000 crore to refinance existing terminals and fund expansion plans. – An agreement with Vadhvan Port Project Ltd. (VPPL) will see up to ₹25,000 crore funneled into developing the greenfield Vadhvan Port, which is anticipated to become a new international maritime gateway. – The Mumbai Port Authority (MbPA) will see advancements with HUDCO’s support in developing a maritime and business hub that celebrates India’s rich maritime heritage. – With the Visakhapatnam Port Authority (VPA), a ₹487 crore investment will enhance mechanization and modernization efforts under public-private partnership models. – The Paradip Port Authority (PPA) is set to receive ₹5,100 crore to support its expansion to a 400 MMT capacity by 2030 through infrastructure enhancements. – Lastly, the Syama Prasad Mookerjee Port in Kolkata will benefit from a ₹3,000 crore investment aimed at upgrading its container and liquid cargo facilities.
HUDCO’s financial health has shown robust growth, with a record net profit increase of 28% year-on-year, amounting to ₹2,709 crore in FY2024-25, and a significant growth in their operational revenue. This financial upswing supports HUDCO’s strategic diversification into new sectors, including maritime infrastructure, thus reinforcing its role in driving national economic growth and enhancing global connectivity through improved maritime logistics.
