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.
