BEML & Sagarmala Finance Join Hands to Boost Maritime Manufacturing

By siliconindia  |  Friday, December 5, 2025

BEML & Sagarmala Finance Join Hands to Boost Maritime Manufacturing
  • BEML signs pact with Sagarmala Finance to enhance funding for India’s maritime sector.
  • Tripartite MoU inked with HD Korea Shipbuilding and HD Hyundai Samho for next-gen maritime cranes.
  • Partnerships to include training, after-sales support, and local manufacturing initiatives.

Defence PSU BEML Ltd on Friday announced a strategic partnership with Sagarmala Finance Corporation Limited (SMFCL) aimed at strengthening India’s maritime manufacturing capabilities. The move seeks to provide dedicated financial support to the sector, in line with the government’s vision of promoting indigenous production and reducing import dependence.

SMFCL, formerly Sagarmala Development Company Limited, is India’s first non-banking financial company dedicated to the maritime sector. Under the MoU, both organizations will work to unlock funding avenues to support domestic shipbuilding, port infrastructure, and manufacturing of maritime equipment.

In addition, BEML has signed a tripartite MoU with HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Samho Heavy Industries. The collaboration will focus on designing, developing, and manufacturing next-generation conventional and autonomous maritime and port cranes in India. The initiative will also cover after-sales services, spare parts supply, and training support for operators, ensuring end-to-end operational excellence.

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BEML, which operates across defence and aerospace, mining and construction, and rail and metro segments, said the partnerships are part of its broader strategy to enhance domestic capabilities and technology adoption in the maritime and port sector. By combining financial support, local manufacturing, and advanced technological expertise, the collaboration aims to make India a hub for modern maritime solutions.

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