V.O.C. Port inks MoUs for financing the outer harbour project and partnering in BCSL

V.O. Chidambaranar (V.O.C.) Port has signed a tripartite Memorandum of Understanding (MoU) with Indian Railway Finance Corporation Limited (IRFC) and Sagarmala Finance Corporation Limited (SMFCL), at an event held in New Delhi on Tuesday.

The port has entered into the MoU to explore the financing arrangements of up to ₹15,000 crore for the outer harbour project at V.O.C. Port, comprising construction of bund and breakwater, capital dredging and reclamation and other allied facilities under the Hybrid Annuity Model (HAM).

The MoU was inked by Susanta Kumar Purohit, IRSEE, Chairperson, VOC Port, Manoj Kumar Dubey, CMD, IRFC and LVS Sudhakar Babu, Managing Director, SMFCL, in the presence of Sarbananda Sonowal, Union Minister for Ports, Shipping and Waterways (MoPSW), Ashwini Viashnaw, Union Minister of Railways, Information & Broadcasting and Electronics & Information Technology, Shantanu Thakur, Minister of States, MoPSW, Vijay Kumar, Secretary, MoPSW and other senior officials.

Further strengthening its strategic initiatives, V.O.C. Port also inked an MoU to become a partner in the joint venture company Bharat Container Shipping Line (BCSL), an initiative under the government of India’s ‘Atmanirbhar Bharat’.

The joint venture brings together Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), SMFCL, Jawaharlal Nehru Port Authority, Chennai Port Authority and V.O.C. Port Authority to promote India’s indigenous container shipping capabilities. Through this, V.O.C. Port will hold a share of the equity, alongside major state owned entities, marking its active role in strengthening domestic maritime trade.

The MoU was signed by Susanta Kumar Purohit, IRSEE, Chairperson, VOC Port and by senior officials of CONCOR, SCI, SMFCL, Jawaharlal Nehru Port Authority, Chennai Port Authority in the presence of union ministers Sarbananda Sonowal, Ashwini Viashnaw and other senior officials of MoPSW.

According to Mr. Purohit, these milestones underscores the port’s commitment to excellence, sustainable growth and enhanced maritime infrastructure, while strengthening its role as a modern, world-class port.

“BCSL is a strategic initiative of the government of India, aimed at building resilient supply chains, strengthening multimodal connectivity and ensuring a strong Indian presence in global maritime trade under the vision of ‘Maritime Amrit Kaal 2047’ and the prime minister’s journey towards Viksit Bharat.”