In a move to strengthen port infrastructure, HUDCO has entered into a non-binding Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA). This is to explore collaboration in infrastructure development and project financing at the port. 

The partnership will focus on both ongoing and upcoming projects. This includes financing and refinancing initiatives, with an estimated combined value of Rs 5,000 crore.

The MoU was signed in Mumbai on Friday (24th October) by HUDCO Chairman and Managing Director Sanjay Kulshrestha and JNPA Chairman Unmesh Sharad Wagh. HUDCO highlighted that this understanding marks the first step toward identifying potential avenues for cooperation. The aim is to boost port infrastructure and meet the financing needs of development projects at JN Port.

On Friday (24th October), shares of HUDCO closed 0.77% lower at Rs 226.99 on NSE.

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