Swan Defence Expands Maritime Partnerships: Signs MoUs with Gujarat Maritime Board and Sagarmala Finance Corporation

Swan Defence & Heavy Industries (SDHI), India's largest shipbuilding and heavy fabrication company, has recently signed two significant Memorandums of Understanding (MoUs) to boost India's maritime sector.

₹4,250 Crore MoU with Gujarat Maritime Board

SDHI has signed a landmark MoU with the Gujarat Maritime Board (GMB) for a strategic investment of ₹4,250.00 crore. This partnership aims to modernize shipyard infrastructure, strengthen domestic supply chains, and build a sustainable talent pipeline for India's maritime industry.

Key Investment Areas

1. Capacity Expansion: ₹3,500.00 crore for enhancing the shipyard's capacity at Pipavav Port, Gujarat.
2. Centre of Excellence for Maritime: ₹200.00 crore for a state-of-the-art training facility.
3. Maritime Cluster Development: ₹550.00 crore for developing a 200-acre Maritime Cluster within the shipyard.

Expected Outcomes

• Enhanced shipbuilding capacity to meet global and Indian demand
• Creation of a certified, industry-ready workforce
• Fostering innovation in ship design, shipbuilding, and retrofits
• Boosting the local economy and strengthening global trade
• Improving efficiency in the maritime sector

Strategic Partnership with Sagarmala Finance Corporation

In a separate development, SDHI has also signed a strategic MoU with Sagarmala Finance Corporation Limited (SMFCL) to explore shipbuilding financing support under the Maritime focused Equity Fund.

Key Areas of Collaboration

1. Technical & commercial evaluation
2. Financing
3. Project execution
4. Ecosystem development

The partnership will jointly explore projects including newbuilds, ship repairs, and ancillary maritime infrastructure. It aims to conduct feasibility studies, develop financing plans covering capital structure and equity, and promote advanced sustainable shipbuilding technologies.

Strategic Significance

Both collaborations align with the Maritime India Vision 2030 and the country's goal of becoming a global shipbuilding leader. SDHI's shipyard in Pipavav Port, which houses India's largest dry dock capable of building vessels up to 400,000 DWT, is set to play a crucial role in these initiatives.

Rear Admiral Vipin Kumar Saxena (retd.), CEO of Swan Defence and Heavy Industries, commented on the GMB partnership: "We are honoured to partner with the Gujarat Maritime Board on this landmark collaboration. By investing in infrastructure, capacity, and skill development, we will add world-class capabilities that accelerate India's shipbuilding ecosystem. SDHI is laying the foundation for a new era of growth and cementing our nation's place on the global maritime map for decades to come."

With a fabrication capacity of 144,000 tons per annum, SDHI is well-positioned to leverage these partnerships to further strengthen India's position in the global maritime landscape.