IRFC Enters Strategic MoU with Tuticorin Port & Sagarmala Finance for Outer Harbour Development
Indian Railway Finance Corporation Limited (IRFC), a Navratna Central Public Sector Enterprise and the dedicated financing arm of the Ministry of Railways, has entered into a strategic Tripartite Memorandum of Understanding (MoU) with V.O. Chidambaranar Port Authority (VOCPA) and Sagarmala Finance Corporation Limited (SMFC) to jointly support financing of large-scale port and multimodal infrastructure projects. The MoU was signed today at Transport Bhawan, New Delhi by Manoj Kumar Dubey, Chairman & Managing Director, IRFC; Susanta Kumar Purohit, Chairperson, VOCPA; and LVS Sudhakar Babu, Managing Director, SMFC. The partnership aims to jointly explore structured financing for the Development of the Outer Harbour Project at V.O. Chidambaranar Port, along with other port-led and multimodal connectivity projects.
Key Highlights
- IRFC, VOCPA, and SMFC sign strategic MoU for financing large-scale port and multimodal infrastructure projects.
- The partnership aims to support the Development of the Outer Harbour Project at V.O. Chidambaranar Port.
- The MoU was signed in the presence of Shri Ashwini Vaishnaw, Hon’ble Minister of Railways, Communications and Electronics & Information Technology, Shri Sarbananda Sonowal, Hon'ble Minister of Ports, Shipping and Waterways, and Shri Shantanu Thakur, Hon’ble Minister of State for Ports, Shipping and Waterways.
- The collaboration reflects IRFC’s commitment to meeting India’s growing infrastructure needs through strategic partnerships, innovation in financing, and a whole-of-transport approach.
- The MoU brings together IRFC’s strong capital market access and long-tenor financing capabilities with SMFC’s maritime sector expertise and VOCPA's large-scale port expansion programme.