Madurai: The V O Chidambaranar (VOC) Port Authority in Tuticorin has signed a tripartite memorandum of understanding (MoU) with Indian Railway Finance Corporation (IRFC) and Sagarmala Finance Corporation Ltd (SMFCL) to explore joint financing of up to ₹15,000 crore for its proposed Outer Harbour Project. The project includes construction of bunds and breakwaters, capital dredging, land reclamation, and related infrastructure under the Hybrid Annuity Model. Officials said the partnership will support financial structuring, funding identification, project execution, and capacity building to accelerate implementation.Separately, VOC Port also signed an MoU to become a partner in Bharat Container Shipping Line, a joint venture under the Centre’s Atmanirbhar Bharat initiative.
