DCI and IOCL Forge ₹2,157 Crore Fuel Supply Partnership for Dredging Operations
In a significant move to bolster maritime infrastructure, Dredging Corporation of India Ltd (DCI) has entered into a Memorandum of Understanding with Indian Oil Corporation Ltd (IOCL) valued at ₹2,157.07 crore. This long-term agreement, signed in Visakhapatnam, will ensure a steady supply of fuel for DCI's dredging fleet over the next five years, enhancing operational reliability across its nationwide activities.
Strategic Agreement to Support National Projects
The MoU is designed to provide DCI with uninterrupted fuel availability, which is critical for maintaining efficient dredging services at ports and for various national projects. By securing this supply amid ongoing disruptions in the energy sector, DCI has reinforced its operational resilience and preparedness for key maritime initiatives.
Key Officials Present at Signing Ceremony
The signing ceremony was attended by senior representatives from both organizations. From IOCL, the attendees included K John Prasad, country head for institutional business; Piyush Mittal, executive director and state head for TAPSO; Manoj D Kudale, chief general manager for institutional business; and Nishant Gulati from DIBH, Vizag DO. Representing DCI were Capt S Divakar, managing director and CEO; Capt KM Choudhary, general manager for business development; and B Durga Prasad Babu, head of department for materials.
Implications for Maritime Infrastructure Development
This partnership not only strengthens DCI's ability to deliver consistent dredging services but also supports India's broader goals in maritime infrastructure development. With a reliable fuel source, DCI can better manage its fleet operations, contributing to smoother port maintenance and the execution of vital national projects.
