Swan Defence and Heavy Industries (SDHI) announced a strategic Memorandum of Understanding (MoU) with Sagarmala Finance Corporation (SMFCL), India's maritime-focused NBFC. Under the partnership, SDHI & SMFCL will jointly explore projects including newbuilds, ship repairs and infrastructure for support under Maritime focused Equity Fund (MfEF).
The MoU covers four strategic areas ancillary maritime across technical & commercial evaluation, financing, project execution, and ecosystem development to advance shipbuilding in line with Maritime India Vision 2030, PM Gati Shakti, and India's goal of becoming a global shipbuilding leader.
SDHI and SMFCL will conduct feasibility studies covering project design, yard capacity, vessel types, and technology integration. The partnership will drive adoption of advanced, sustainable shipbuilding technologies - such as green fuels, energy-efficient designs, and digital shipyards - while promoting localisation of supply chains, vendor development, and robust backward linkages to strengthen India's maritime manufacturing ecosystem.
Under the MoU, the partners will develop a financing plan covering capital structure, equity, debt, and credit enhancements, while identifying co-financiers such as multilateral institutions, government agencies, and private investors.