New Delhi, 22 November (H.S.): Sagarmala Finance Corporation Limited (SMFCL) has approved a significant plan to strengthen India's maritime financing ecosystem, endorsing a total borrowing limit of ₹25,000 crore during its Annual General Meeting. Of this amount, ₹8,000 crore is earmarked to be raised within the current fiscal year to commence lending operations shortly.
SMFCL, a Mini Ratna Central Public Sector Enterprise under the Union Ministry of Ports, Shipping and Waterways, will mobilize these funds through leading banks, financial institutions, and bond issuances. The corporation is currently in discussions with major financial rating agencies and, given the positive sector outlook and a robust project pipeline, it anticipates securing a top-tier credit rating to enhance investor confidence and optimize interest costs.
As part of its strategic plan, SMFCL has developed a comprehensive financing framework designed to support the entire maritime value chain. This includes providing funding for ports, port connectivity projects, port-led industrialization, coastal community development, coastal shipping, and inland waterways.
A special emphasis will be placed on vessel financing to advance India's shipbuilding capabilities and strengthen its global position in the sector.
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Hindusthan Samachar / Jun Sarkar
