REC Limited and Sagarmala Finance Corporation Limited (SMFCL), have signed a Memorandum of Understanding (MoU) today at the India Maritime Week 2025 in Mumbai.
The MoU was formally signed between Smt. Saraswathi, ED (Infrastructure and Logistics), REC Limited, and Shri A C Nayak, Director (Finance), joined by Shri S T Selvam, Director (Projects), Sagarmala Finance Corporation Limited during the exchange of the MoU.
The purpose of this MoU is to explore collaboration and joint financing opportunities in the India’s critical maritime and allied infrastructure sectors. This collaboration marks a significant step towards leveraging the financial strengths of both institutions to accelerate and boost rapid development in India’s port-led infrastructure and blue economy objectives.
Speaking on the occasion, representatives from both organizations expressed optimism about the collaboration, emphasizing its potential to contribute significantly to India’s blue economy and sustainable maritime development.