Dredging Corporation of India Signs ₹2,157.07 Crore Fuel Supply MoU with IOCL
Dredging Corporation of India Limited (DCI) has entered into a strategic Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for the supply of fuel to DCI's dredging fleet. The agreement, valued at ₹2,157.07 crores, is set for a period of five years.The MoU, signed on April 16, 2026, underscores DCI's resilience amid ongoing disruptions within the energy sector. The partnership is designed to ensure a steady and reliable fuel supply for DCI's operations across the country, thereby strengthening the company's operational preparedness for critical maritime infrastructure services.
The collaboration aims to maintain operational continuity for DCI, enabling the delivery of uninterrupted dredging services for major ports and national projects. This long-term fuel supply arrangement significantly bolsters the company's capacity even during periods of energy uncertainty.
The MoU signing ceremony was attended by senior leadership from both organizations. Representatives from IOCL included 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.
For DCI, senior officials present included Capt. S. Divakar, Managing Director & CEO; Capt. K.M. Choudhary, CHOO & GM (Business Development); and Shri B. Durga Prasad Babu, HOD (Materials).
The agreement reinforces the long-standing association between DCI and IOCL, reflecting a shared commitment to operational excellence and supporting India's maritime infrastructure development. The synergy between the two public sector enterprises is expected to maintain stability and efficiency in key sectors of the economy.
DREDGECORP Stock Price Movement
Today, Dredging Corporation of India Limited shares edged higher to close at ₹975.35, having gained 0.31% for the day. The stock traded today on a volume of 323,582 shares, finding support within a daily range of ₹965 to ₹996.Source:
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