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Sagarmala
Sagarmala Finance Corporation Limited (SMFCL) will raise Rs 8,000 crore in the current financial year from banks, financial institutions and through bonds to further boost the maritime prowess of the nation. SMFCL, formerly known as Sagarmala Development Company Limited, is India's first maritime sector-specific Non-Banking Financial Company. It was formally registered as an NBFC with the Reserve Bank of India (RBI) on June 19, 2025. SMFCL in a statement said in a recently held annual general meeting , the board approved a proposal to raise Rs 8,000 crore in the current financial year. It also approved the overall borrowing limit of Rs 25,000 crore. "For achieving this SMFCL shall raise the fund from various bank and financial institutions and through bonds in accordance with the resource mobilization plan and start lending operations soon," it said. The corporation comes under Ministry of Ports, Shipping and Waterways. It aims to bridge the financial gaps in the maritime sector,
A National Maritime Heritage Complex (NMHC) will be developed in Gujarat at a cost of Rs 4,500 crore under the government's Sagarmala programme, an official statement said Friday. NMHC would be developed as an international tourist destination at Lothal, where the maritime heritage of India from ancient to modern times would be showcased and an "edutainment approach" using the latest technology would be adopted to spread awareness about the country's maritime heritage, Ministry of Ports, Shipping and Waterways said. "Government will develop National Maritime Heritage Complex in Lothal, Gujarat, for an estimated cost of Rs 4,500 crore. NMHC to be developed as an international tourist destination, showcasing India's rich maritime heritage," it added. An onsite project progress review meeting will also be held on Sunday, July 2, 2023, at Lothal.
Under the Sagarmala Programme, 70 projects worth Rs 2,856 crore have been sanctioned, out of which 15 projects worth Rs 849 crore have been completed, Parliament was informed on Friday. Under the Sagarmala Programme, 70 projects worth Rs 2,856 crore have been sanctioned for the development of coastal berths, roll-on, roll-off, passenger jetties etc. In a written reply to the Lok Sabha, Union Ports, Shipping and Waterways minister Sarbananda Sonowal said various initiatives and projects have been undertaken to facilitate shifting of cargo from conventional land-based transportation to coastal shipping mode. A discount of 40 per cent is offered by major ports on vessel and cargo related charges to coastal cargo vessels, Sonowal added. He said green channel clearance was introduced for faster evacuation of coastal cargo at ports. According to the minister, the projects for improvement in the first and last-mile road and rail connectivity with all the major and non-major ports have al
More than 110 projects worth around Rs 1.1 lakh crore have been identified in Andhra Pradesh under Sagarmala, even as 35 works worth Rs 32,000 crore have already been completed, Union Minister of Ports and Shipping Sarbananda Sonowal said on Saturday here. Speaking at the Global Investors' Summit being held here, he said some of the projects are focused on roll on roll off (RORO), passenger jetty, fishing, port modernisation and skill development among others. According to the Minister, Visakhapatnam Port has exhibited a healthy cargo growth of over 7.5 per cent in 202223. "Following directions from the Ministry, the port is in the process of transforming as a landlord port. Other ports also may comply by 2023," said the Shipping Minister. He said six projects are operating in Visakhapatnam Port, awarded in January 2023 with an investment of Rs 658 crore. Further elaborating, Sonowal said the Ministry of Ports, Shipping, and Water in association with the Ministry of Fishing is ...