Indian Railway Finance Corporation Ltd (IRFC) entered into a strategic Tripartite Memorandum of Understanding with V.O. Chidambaranar Port Authority (VOCPA) and Sagarmala Finance Corporation Ltd (SMFC) to jointly support financing of large-scale port and multimodal infrastructure projects.
The partnership aims to jointly explore structured financing for the development of the outer harbour project at V.O. Chidambaranar Port in Tuticorin along with other port-led and multimodal connectivity projects.
The MoU was signed today at Transport Bhawan, New Delhi by IRFC CMD Manoj Kumar Dubey, VOCPA Chairperson Susanta Kumar Purohit and SMFC MD LVS Sudhakar Babu. The signing ceremony was held in the presence of Railways Minister Ashwini Vaishnaw, Shipping Minister Sarbananda Sonowal and Minister of State for Ports Shantanu Thakuria.
Speaking about the the signing ceremony, CMD IRFC Shri Manoj Kumar Dubey said that the MoU represents IRFC’s strategic transition into a diversified national infrastructure financier while keeping railways at the core of India’s logistics transformation.
“India’s logistical infrastructure growth today demands integrated financing across railways, ports, logistics corridors and multimodal networks. Railways remain the backbone of national freight movement, and ports are its natural partners in driving trade and economic expansion. Through this partnership with VOCPA and Sagarmala Finance, IRFC is extending its long-term financing expertise assets to support port-led development that is seamlessly connected with rail infrastructure. This collaboration reflects IRFC’s commitment to meeting India’s growing infrastructure needs through strategic partnerships, innovation in financing, and a whole-of-transport approach.”
The MoU brings together IRFC’s strong capital market access and long-tenor financing capabilities with SMFC’s maritime sector expertise and VOCPA’s large-scale port expansion programme under the Sagarmala initiative and PM Gati Shakti National Master Plan.
VOCPA, one of India’s major ports, is undertaking significant capacity expansion and connectivity upgrades to support growing cargo volumes and coastal trade, while SMFC continues to play a catalytic role in accelerating maritime infrastructure financing.
The collaboration underscores IRFC’s evolving role as a key enabler of India’s integrated transport infrastructure ecosystem, supporting sustainable growth, improved logistics efficiency, and long-term economic development.