Dredging Corporation of India Limited (DCI) has taken a significant step in securing its operational needs by signing a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for a fuel supply agreement valued at ₹2,157.07 crores. This agreement, set for a duration of five years, is aimed at ensuring a steady and reliable fuel supply for DCI’s dredging fleet, which is crucial for its operations across India.
The MoU was signed on April 16, 2026, during a ceremony attended by senior officials from both DCI and IOCL. Representing IOCL were Shri K. John Prasad, Country Head (Institutional Business), HO; Shri Piyush Mittal, Executive Director & State Head (TAPSO); Shri Manoj D. Kudale, Chief General Manager (Institutional Business), TAPSO; and Shri Nishant Gulati, DIBH, Vizag DO. From DCI, Capt. S. Divakar, Managing Director & CEO; Capt. K.M. Choudhary, CHOO & GM (Business Development); and Shri B. Durga Prasad Babu, HOD (Materials) were present.
The agreement highlights the strategic partnership between DCI and IOCL, reinforcing their long-standing association. It reflects a shared commitment to operational excellence and reliability, particularly in supporting India’s maritime infrastructure development. By securing a long-term fuel supply arrangement amidst energy sector disruptions, DCI aims to deliver uninterrupted dredging services for major ports and national projects.
The collaboration underscores the vital role played by public sector enterprises in maintaining stability and efficiency in key economic sectors, especially during challenging global conditions. This MoU not only strengthens DCI’s operational preparedness but also ensures continuity in critical maritime infrastructure services.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Arunika Jain and reviewed by Aman Shukla before publication.