V.O. Chidambaranar Port Signs MoU With IRFC, SMFC to Explore Joint Financing for Outer Harbour Project
Tuticorin:
Port Wings News Network:
V.O. Chidambaranar Port Authority, Tuticorin, on 3 February 2026 signed a Tripartite Memorandum of Understanding (MoU) with Indian Railway Finance Corporation Ltd. (IRFC) and Sagarmala Finance Corporation Ltd. (SMFC) to explore joint financing of up to ₹15,000 crore for the Outer Harbour Project at VOC Port under the Hybrid Annuity Model (HAM).
The MoU was signed by Susanta Kumar Purohit, IRSEE, Chairperson, V.O. Chidambaranar Port Authority, Manoj Kumar Dubey, CMD, IRFC, and L.V.S. Sudhakar Babu, Managing Director, SMFC, in the presence of Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways, Ashwini Vaishnaw, Union Minister for Railways, Information & Broadcasting, and Electronics & Information Technology, and Shantanu Thakur, Minister of State for Ports, Shipping and Waterways.
According to a statement by the port authority on social media, the partnership enables robust financial structuring and supports timely execution of the Outer Harbour Project, aligned with Maritime India Vision 2030 and the PM Gati Shakti National Master Plan, strengthening India’s port-led growth and logistics competitiveness.
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