Funding to refinance SBI loan for Ramayapatnam and Mulapeta port projects.

Sagarmala Finance Corp Likely to Sanction ₹2,000 Crore Loan for Andhra Pradesh Ports.

The board of Sagarmala Finance Corporation Ltd is expected to approve a ₹2,000 crore loan to the Andhra Pradesh Maritime Board for two under-construction ports—Ramayapatnam Port and Mulapeta Port—government sources said. The 15-year loan will be used to refinance an existing facility taken from the State Bank of India. The ports are part of Andhra Pradesh’s plan to raise its port handling capacity to 400 million tonnes from the current 110 mt. The other upcoming ports are at Machilipatnam Port and Kakinada SEZ Port. Ramayapatnam is being built by Navayuga Engineering Co Ltd, while Vishwa Samudra Holdings Pvt Ltd is leading the EPC works at Mulapeta. Both projects follow the EPC model, with the state funding land acquisition, clearances, dredging and breakwater construction.