ICG signs MoU with Hindalco Industries Ltd for manufacturing and supply of indigenous marine grade Aluminum
New Delhi, 10 May 2024: 09 May 2024 marks a significant milestone that witnessedsigning of maiden Memorandum of Understanding (MoU) between the Indian Coast Guard and Hindalco Industries, a flagship company of the Aditya Birla Group,for manufacturing and supply of indigenous marine grade Aluminum.
The MoU was signed by DDG (Materiel & Maintenance) IG HK Sharma, TM, Indian Coast Guard and ShriNileshKoul, CEO Downstream Aluminum Business, Hindalco in the presence of Additional Director General Indian Coast Guard. ADG CG has reiterated ICGs commitment to enhance Indigenous Content (IC) in ship building and reduce import dependency.
On this occasion, the Managing Director, Hindalco Industries Ltd, ShriSatishPai, has also greeted Indian Coast Guard for this collaboration towards indigenisation and acknowledged it as a beginning of new relationship between two organisations.
ICG fleet is presently operating 67 ships with Aluminum hullwith capability of operating in shallow waters. With greater focus on coastal security,ICG plans toinduct more such vessels for augmentation of fleet where the indigenously manufactured marine grade Aluminium will be utilised.
Through this MoU, Hindalco will facilitate supply of indigenous Aluminum to Indian public/ private shipyards for construction of ICG Ships and will provide benefits such as Quarterly pricing, priority in supplies &Turnover discount [TOD].
The MoU between the Indian Coast Guard and Hindalco Industries Limited represents a significant step in fostering collaboration with private industry in the defence sector.
