REC and Sagarmala Finance Corporation (SMFCL) have signed a Memorandum of Understanding (MoU) to collaborate on maritime and allied infrastructure financing. The MoU was signed during India Maritime Week 2025 in Mumbai. 

The agreement was formalised between Smt. Saraswathi, Executive Director (Infrastructure and Logistics), REC Limited, and Shri A. C. Nayak, Director (Finance), in the presence of Shri S. T. Selvam, Director (Projects), Sagarmala Finance Corporation Limited. 

The partnership aims to explore joint financing opportunities in critical maritime sectors, leveraging the financial strengths of both institutions to boost the development of India’s port-led infrastructure and blue economy goals. 

Representatives from both organisations expressed optimism about the collaboration, highlighting its potential to contribute significantly to India’s maritime growth and sustainable infrastructure development.