The Centre, in July 2016, approved the incorporation of Sagarmala Development Company (SDC) under the Companies Act, 2013. SDC will be under the administrative control of the Ministry of Shipping. It will provide equity support to the project Special Purpose Vehicles (SPVs) and funding support to the residual projects under the Sagarmala Programme. SDC will be incorporated under the Companies Act, 2013, with an initial Authorized Share Capital of Rs. 1,000 Crore and a Subscribed Share Capital of Rs. 90 Crore.
