SDCL will transform into a non-banking financial company focused on ports and shipping by March 2025, boosting sector financing.
Sagarmala Development Company (SDCL), the entity responsible for executing projects under the Sagarmala Programme, is set to transition into a non-banking financial company (NBFC) by March 2025. The newly structured NBFC will focus exclusively on financing the ports and shipping sector, according to a senior official, with government approval already secured and the registration process underway.
The transformation process is expected to be completed within the next six to seven months. Once restructured, SDCL will operate similarly to the Power Finance Corporation (PFC), which specialises in financing the power sector. The rebranded company will raise funds through market borrowings and extend loans to companies involved in port and shipping activities.
As part of the shift, projects under the Sagarmala Programme will be transferred to a separate entity. Launched in 2016, the Sagarmala Programme aims to enhance port-led development and reduce logistics costs by leveraging India’s coastline and inland waterways.
The potential integration of the upcoming Maritime Development Fund into the new NBFC remains uncertain, as details of the fund are still under discussion. The fund is part of the government’s broader Maritime Amrit Kaal Vision 2047, which seeks to establish India as a global leader in shipbuilding, repair, and port-led industrialization. Through targeted policies and financial mechanisms, the government aims to secure long-term capital for the ports and shipping industry.
