SDHI, SMFCL join hands to power India’s shipbuilding future
MoU to boost shipbuilding with financing, sustainable tech, exports, and skill growth under Maritime focused Equity Fund.
Swan Defence and Heavy Industries Limited (SDHI), India’s largest shipbuilding and heavy fabrication company, has signed a Memorandum of Understanding (MoU) with Sagarmala Finance Corporation Limited (SMFCL), the country’s maritime-focused NBFC. The agreement aims to support shipbuilding, ship repair, and ancillary maritime infrastructure under the Maritime focused Equity Fund (MfEF), giving a boost to India’s goal of becoming a global leader in shipbuilding.
The partnership covers four key areas like technical and commercial evaluation, financing, project execution, and ecosystem development. Both sides will focus on aligning efforts with Maritime India Vision 2030 and PM Gati Shakti, strengthening the country’s maritime manufacturing base.
Feasibility studies will be undertaken to assess project design, yard capacity, vessel types, and technology integration. The collaboration also seeks to push adoption of sustainable shipbuilding technologies, including green fuels, energy-efficient designs, and digital shipyards, while encouraging localisation of supply chains and vendor development.
A financing plan will be developed under the MoU to address capital structure, equity, debt, and credit enhancements, while identifying co-financiers such as multilateral institutions, government agencies, and private investors. The partnership also places strong emphasis on sustainability, with ESG reporting covering emissions, safety, and labour standards to match global benchmarks.
Rear Admiral Vipin Kumar Saxena (retd), CEO, SDHI, said, “We are proud to partner with SMFCL to establish a strong framework to create a sustainable, globally competitive shipbuilding ecosystem. This partnership will generate high-value jobs, boost exports, strengthen supply chains, and position India as a leading force in the global maritime economy.”
In addition, the collaboration will explore opportunities to boost exports of vessels, connect with international shipbuilding value chains, and develop frameworks for industry-academia partnerships. Skill development and capacity building for the Indian maritime workforce will remain central to these efforts.
