Once finalised, the SCI orders will see India's first Aframax vessels built in its local shipyards
India is also in talks with the US and Iran on possible other ways to proceed with its financial ties to the port amid tensions in the Gulf
Prime Minister Modi and South Korean President Lee ink a sweeping maritime deal, with a ₹2.2 lakh crore vessel pipeline, a new Korean shipyard in southern India, and more
The maritime lender also has plans to enter the bond market for the first time in June this year, according to Sagarmala Finance's Managing Director L.V.S. Sudhakar Babu
The Sagarmala programme was the central focus of Union Minister of State for Ports, Shipping and Waterways Shantanu Thakur's speech at the high-level maritime defence dialogue
The event also saw the inauguration of the VOC Port Maritime Heritage Museum and the Korkai Retreat, two initiatives aimed at bringing out the cultural value of the port and Tuticorin as a city
The maritime sector NBFC has also said that it planned to scale up the Rs 4,300 crore fund to Rs 8,000 crore this fiscal year (FY 2025-26)
India’s Sagarmala initiative is vital for the Indian Ocean Region, securing 90 per cent of the country’s trade passing through maritime chokepoints
The latest push to ‘green shipping’ is in line with Centre's plan led by Union Minister Sarbananda Sonowal
The SMFCL board recently approved a total borrowing limit of Rs 25,000 crore to lift India’s maritime sector
New study lays bare the roadmap to transform India's maritime sector through green innovation and inclusive development
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