Centre Proposes NBFC Under Sagarmala to Address Shipping Industry Issues

27 Aug 2024 CW Team

The Indian government is considering establishing a non-banking financial company (NBFC) under the Sagarmala project to address ongoing challenges in the shipping industry. This move is aimed at bolstering financing options and improving infrastructure development within the sector.

The proposal comes as part of the Sagarmala project, which seeks to enhance port connectivity, boost port-led development, and modernise port infrastructure across the country. The proposed NBFC would focus on providing financial support to various shipping and port-related projects, which often face funding constraints.

By setting up this specialised financial entity, the government aims to overcome the financial hurdles that hinder the growth and efficiency of the shipping industry. The NBFC would play a crucial role in financing infrastructure upgrades, expanding port facilities, and supporting logistics operations, thereby contributing to the overall development of the maritime sector.

This initiative is expected to foster a more robust and efficient shipping network, aligning with the broader objectives of the Sagarmala project and enhancing India's position in global maritime trade.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..