Mumbai: REC Limited and Sagarmala Finance Corporation Limited (SMFCL) signed a strategic Memorandum of Understanding (MoU) today during the India Maritime Week 2025 in Mumbai, marking a pivotal moment in India’s maritime infrastructure development journey.
The MoU was formally exchanged between Saraswathi, Executive Director (Infrastructure and Logistics), REC Limited, and A. C. Nayak, Director (Finance), SMFCL, in the presence of S. T. Selvam, Director (Projects), SMFCL. This partnership aims to unlock collaborative financing opportunities across India’s critical maritime and allied infrastructure sectors.
By leveraging the financial capabilities and institutional strengths of both REC and SMFCL, the agreement is expected to catalyze rapid development in port-led infrastructure, aligning with India’s broader blue economy goals. The collaboration will focus on supporting sustainable maritime initiatives, enhancing logistics efficiency, and promoting coastal economic zones.
Representatives from both organizations expressed confidence in the partnership’s potential to drive transformative change. They emphasized that the MoU would not only strengthen maritime financing mechanisms but also contribute meaningfully to India’s long-term infrastructure vision and global competitiveness in the shipping and logistics domain.
The signing event, held as part of the India Maritime Week 2025, underscored the growing importance of integrated financial models in supporting India’s maritime ambitions. With this MoU, REC and SMFCL have signaled a shared commitment to fostering innovation, sustainability, and inclusive growth in the maritime sector.
