In a strategic move, the Housing and Urban Development Corporation Ltd (HUDCO) has signed a Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) for an investment of Rs 50 billion to revamp and develop port infrastructure.

The non-binding agreement is intended to strengthen cooperation on both existing and upcoming infrastructure projects, with a focus on development, financing, and refinancing of port facilities at the Jawaharlal Nehru Port.

The MoU was formalised with the signatures of Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, and Unmesh Sharad Wagh, Chairman of JNPA.

HUDCO, known for its expertise in financing housing and urban infrastructure, will bring its financial and technical experience to support JNPA’s efforts to modernise and expand port operations, enhancing capacity and efficiency.