Sagarmala Finance's Strategic Leap into Maritime Lending

Sagarmala Finance Corporation Ltd has approved loans worth Rs 4,300 crore, primarily for maritime projects, marking its formal entry into the industry. This step aims to bridge financing gaps, focusing on greenfield ports and shipbuilding, and is part of a larger strategy to boost maritime infrastructure growth.

Sagarmala Finance Corporation Ltd (SMFCL) has announced its entry into the maritime finance sector with the approval of loans totaling Rs 4,300 crore. This strategic move signals the company's commitment to bolstering infrastructure within the sector.

Of the total amount, Rs 4,000 crore is allocated for a greenfield port project, while the Dredging Corporation of India and Goa Shipyard will receive Rs 150 crore and Rs 110 crore, respectively. This funding aims to enhance dredging capacity and promote indigenous shipbuilding.

SMFCL plans to disburse the sanctioned funds within the ongoing fiscal year, targeting a loan book of Rs 8,000 crore by 2025-26. With support from the Ministry of Ports, Shipping and Waterways, the corporation is poised to become a dedicated financier in the maritime domain, leveraging a total borrowing capacity of Rs 25,000 crore.

(With inputs from agencies.)