Maritime-focused NBFC Sagarmala Finance Corporation Ltd (SMFCL) has approved loans worth around Rs 4,300 crore, marking its formal entry into the maritime credit space.
Of this, around Rs 4,000 crore has been earmarked for a greenfield port project, while Dredging Corporation of India (DCI) and Goa Shipyard have secured Rs 150 crore and Rs 110 crore respectively, an official release said.
Goa Shipyard’s financing will support dredging and indigenous shipbuilding capabilities, the report said.
The NBFC, which was inaugurated by Sarbananda Sonowal, Minister of Ports, Shipping and Waterways (MoPSW) in June this year, aims to bridge long-standing financing gaps and provide sector-specific financial solutions to ports, MSMEs, startups and institutions.
The approval follows an aggressive market roadmap approved at SMFCL’s annual general meeting (AGM), where the board approved an overall borrowing limit of Rs 25,000 crore and a borrowing target of Rs 8,000 crore for the current financial year, the release said.
With the final sanctions slated for disbursement within the current fiscal year, SMFCL is targeting a loan portfolio of Rs 8,000 crore by 2025-2026, reinforcing its ambition to emerge as a committed and credible financier to the maritime sector, the report said.
“SMFCL’s entry into the lending space marks an important step in strengthening maritime infrastructure and corporate financing,” Sonowal said.
He stated that the Indian maritime sector has witnessed unprecedented policy clarity, institutional reforms and investor confidence. He said such commitment to long-term, future-ready growth has created the ecosystem that enables specialized institutions like SMFCL to catalyze development across the blue economy.
The major credit rating agencies are expected to assign a rating soon, a development that is likely to further optimize financing costs and support the scaling up of lending, according to the press release.
SMFCL’s expansion strategy is backed by strong institutional support from the Ministry of Ports, Shipping and Waterways, which has designated the company as the nodal agency for the establishment and operational coordination of the Maritime Development Fund (MDF) with a total corpus of Rs 25,000 crore, the report said.
The MDF includes the Maritime Investment Fund with a corpus of Rs 20,000 crore and the Interest Incentivization Fund with a corpus of Rs 5,000 crore.
Within the approved framework, SMFCL will hold and manage the central government’s contribution to the Alternative Investment Fund established for the Maritime Investment Fund in a fiduciary capacity.
Moreover, SMFCL will act as the central agency to channel the Interest Incentivization Fund, significantly expanding the scope of financing support in the maritime segments, the press release said.
SMFCL said the upcoming notification of guidelines for the Shipbuilding Financial Assistance Scheme, with an outlay of Rs 44,700 crore, is expected to open new avenues for investments and collaboration, especially in shipbuilding and allied industries, further strengthening the domestic maritime manufacturing ecosystem.
The company will offer customized financial products to eligible government and private sector entities operating across the maritime value chain. The offering includes short-, medium- and long-term loans, solutions to address cash flow mismatches, balance sheet financing and non-fund-based products designed to meet the specific needs of maritime projects and businesses, the report said.
Published on December 31, 2025
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