Coast Guard, Hindalco ink MoU for manufacturing indigenous marine-grade aluminum for ships

Coast Guard, Hindalco ink MoU for manufacturing indigenous marine-grade aluminum for ships

Daily Current Affairs   /   Coast Guard, Hindalco ink MoU for manufacturing indigenous marine-grade aluminum for ships

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Category : National Published on: May 13 2024

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  • The Memorandum of Understanding (MoU) between the Indian Coast Guard (ICG) and Hindalco Industries aims to promote the manufacturing and supply of indigenous marine-grade aluminium for ship construction.
  • This collaboration seeks to enhance India's self-reliance in the shipbuilding sector by leveraging indigenous resources and expertise, thereby contributing to the country's maritime capabilities and economic growth.
  • Hindalco Industries will offer quarterly pricing for the marine-grade aluminium supplied to Indian public and private shipyards. This arrangement aims to facilitate better planning and cost management for shipbuilding projects by providing stable and predictable pricing over time.
  • The MoU guarantees priority in supplies, ensuring that Indian shipyards receive timely delivery of marine-grade aluminium required for construction projects. 
  • This commitment helps to prevent delays in shipbuilding activities and supports the efficient execution of maritime projects.
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