SDHI Signs Landmark MoUs with SMFCL and GMB to Boost India’s Shipbuilding Sector with ₹4,250 Crore Investment
The collaboration will focus on advanced and sustainable shipbuilding technologies, including green fuels, energy-efficient designs, and digital shipyards
Swan Defence and Heavy Industries Limited (SDHI), India’s largest shipbuilding and heavy fabrication company, has announced two landmark Memorandums of Understanding (MoUs) aimed at transforming India’s maritime ecosystem.
In the first collaboration, SDHI signed an MoU with Sagarmala Finance Corporation Limited (SMFCL), India’s maritime-focused NBFC, to jointly explore projects across shipbuilding, ship repairs, and ancillary maritime infrastructure under the Maritime-focused Equity Fund (MfEF). The partnership will cover four strategic areas—technical & commercial evaluation, financing, project execution, and ecosystem development—aligned with Maritime India Vision 2030, PM Gati Shakti, and India’s goal of global shipbuilding leadership.
The collaboration will focus on advanced and sustainable shipbuilding technologies, including green fuels, energy-efficient designs, and digital shipyards, while strengthening localization, supply chains, and vendor development. A comprehensive financing plan will be developed, bringing in equity, debt, credit enhancements, and co-financiers such as multilateral agencies and private investors.
Rear Admiral Vipin Kumar Saxena (retd.), CEO of SDHI, said: “We are proud to partner with SMFCL to establish a strong framework for 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 a second major development, SDHI inked a ₹4,250 crore MoU with the Gujarat Maritime Board (GMB) to modernize shipyard infrastructure, build talent, and strengthen domestic supply chains at its Pipavav Port shipyard, home to India’s largest dry dock (up to 400,000 DWT).
The investment will be deployed across three projects:
- ₹3,500 crore: Expansion of shipyard capacity, including slipway, jetties, cranes, block fabrication, and dredging.
- ₹550 crore: Development of a 200-acre Maritime Cluster to foster ancillary industries, suppliers, and maritime innovation.
- ₹200 crore: Establishment of a Centre of Excellence (CoE) for Maritime, training 1,000 youth annually, with smart classrooms, advanced simulators, and R&D labs.
Rear Admiral Saxena (retd.) added: “We are honoured to partner with the Gujarat Maritime Board on this landmark collaboration. By investing in infrastructure, capacity, and skill development, we will add world-class capabilities that accelerate India’s shipbuilding ecosystem and cement our nation’s place on the global maritime map for decades to come.”
Together, these partnerships mark a turning point for India’s shipbuilding sector, aligning with Maritime Amrit Kaal Vision 2047 to position India as a hub of sustainable shipbuilding, global exports, and maritime innovation.
