MUMBAI: REC Limited and Sagarmala Finance Corporation Limited (SMFCL) on Wednesday signed a Memorandum of Understanding (MoU) to strengthen cooperation and financing in India’s maritime and allied infrastructure sectors.
The agreement was signed during the India Maritime Week 2025 in Mumbai by Smt. Saraswathi, Executive Director (Infrastructure and Logistics) of REC Limited, and Shri A. C. Nayak, Director (Finance) of SMFCL, in the presence of Shri S. T. Selvam, Director (Projects), SMFCL.
The MoU aims to explore joint financing and investment opportunities that will accelerate the development of port-led infrastructure and the broader blue economy. Both organizations emphasized that the partnership would combine REC’s infrastructure financing expertise with SMFCL’s focus on maritime and coastal development.
Officials from both sides expressed optimism that the collaboration would play a vital role in achieving sustainable growth and enhancing India’s position as a global maritime hub.
