HUDCO has signed non-binding MoUs to support maritime infrastructure projects across India. The agreements include up to ₹51 billion for Paradip Port, ₹4.87 billion for Visakhapatnam Port, and the development of a Maritime Iconic Structure in Mumbai, reinforcing HUDCO’s role in port modernization and urban infrastructure.
Housing and Urban Development Corporation Ltd (HUDCO), a Navratna PSU under the Ministry of Housing and Urban Affairs, has announced a series of strategic MoUs during India Maritime Week 2025 aimed at boosting India’s port infrastructure and urban development.
HUDCO will explore funding of up to ₹51 billion for Paradip Port Authority (PPA) to support new and existing projects focused on capacity expansion, logistics efficiency, and green port initiatives. Additionally, it will provide up to ₹4.87 billion to Visakhapatnam Port Authority for modernization and connectivity upgrades.
In Mumbai, HUDCO has signed an MoU to develop a Maritime Iconic Structure, envisioned as a landmark urban project that blends cultural heritage with maritime innovation. The initiative is expected to enhance tourism, education, and public engagement with India’s maritime legacy.
HUDCO also partnered with IIM Calcutta for training and research in urban management and infrastructure financing.
Key Highlights:
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Paradip Port Funding: Up to ₹51 billion for infrastructure and expansion
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Visakhapatnam Port Funding: Up to ₹4.87 billion for modernization
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Mumbai Project: Maritime Iconic Structure to promote heritage and innovation
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Strategic Collaboration: MoU with IIM Calcutta for capacity building
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Event Context: Announced during India Maritime Week 2025
HUDCO’s multi-port engagement signals a robust push toward integrated maritime and urban development.
Sources: ScanX News, InvestyWise, PSU Watch