ICG signs MoU with Hindalco Industries for manufacturing and supply of indigenous materials

The MoU will also provide benefits such as quarterly pricing, priority in supplies, and Turnover discount.

ICG signs MoU with Hindalco Industries for manufacturing and supply of indigenous materials

Indian Coast Guard (ICG) and Hindalco Industries have inked a Memorandum of Understanding (MoU) in New Delhi for the manufacturing and supply of indigenous marine-grade aluminum to Indian public and private shipyards for the construction of ships.

The MoU will also provide benefits such as quarterly pricing, priority in supplies, and Turnover discount.

The ICG fleet is presently operating 67 ships with aluminium hulls with capability of operating in shallow waters. To further boost coastal security, it has planned to induct more such vessels where the indigenously manufactured marine-grade aluminum will be utilized.

Read Also : RITES total revenue Rs.2539 Cr with profit after tax Rs.495 Crore for FY 24

The MoU was signed by Deputy Director General (Materiel & Maintenance), ICG IG HK Sharma, and CEO, of Downstream Aluminum Business, Hindalco Shri Nilesh Koul in the presence of senior officials of the ICG.

Read Also : REC wins ‘Sustainability Champion – Editor’s Choice Award’ at the Outlook Planet Sustainability Summit & Awards 2024