New Delhi: Indian Railway Finance Corporation Limited (IRFC), a Navratna Central Public Sector Enterprise and the dedicated financing arm of the Ministry of Railways, has signed a strategic tripartite Memorandum of Understanding (MoU) with V.O. Chidambaranar Port Authority (VOCPA) and Sagarmala Finance Corporation Limited (SMFC) to support financing of large-scale port and multimodal infrastructure projects.
The MoU was signed at Transport Bhawan, New Delhi, in the presence of Union Minister for Railways, Communications and Electronics & IT Ashwini Vaishnaw, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, and Minister of State Shantanu Thakur, highlighting the Government of India’s focus on integrated transport and logistics infrastructure.
The agreement aims to jointly explore structured financing options for the Outer Harbour Development Project at V.O. Chidambaranar Port (Tuticorin), along with other port-led and multimodal connectivity projects aligned with the Sagarmala Programme and PM Gati Shakti National Master Plan.
The MoU was signed by Manoj Kumar Dubey, Chairman & Managing Director, IRFC, Susanta Kumar Purohit, Chairperson, VOCPA, and LVS Sudhakar Babu, Managing Director, SMFC.
Commenting on the development, CMD IRFC Manoj Kumar Dubey said the partnership reflects IRFC’s strategic transition into a diversified national infrastructure financier, while continuing to keep railways at the core of India’s logistics transformation. He emphasized the growing need for integrated financing across railways, ports, logistics corridors, and multimodal networks to support India’s trade and economic expansion.
Through this collaboration, IRFC will leverage its strong capital market access and long-term financing expertise, SMFC’s maritime sector knowledge, and VOCPA’s port expansion programme to strengthen India’s integrated transport infrastructure ecosystem and enhance logistics efficiency.