New Delhi, March 14 (IANS) The government on Saturday said that under the Shipbuilding Financial Assistance Policy (SBFAP), a total of 288 contracts worth Rs 19,748 crore, covering 456 vessels, have received in-principle approval to date.Moreover, total financial assistance amounting to Rs 620.57 crore has been disbursed to 23 shipyards for the construction and delivery of 204 vessels, according to the Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal.The types of vessels cove…
Latest Maritime Development Fund News & Updates
New Delhi, Jan 1 (IANS) The government has said that Sagarmala Finance Corporation Limited (SMFCL), India’s first maritime focused non-banking financial company (NBFC), commenced its lending operations and approved loan sanctions of about Rs 4,300 crore.With this, SMFCL has formally entered the maritime lending space in line with the strategy approved by its Board, said Ministry of Ports, Shipping and Waterways.“SMFCL’s entry into lending marks an important step in strengthening maritime i…