Dredging Corporation of India has entered into a significant long-term agreement aimed at ensuring fuel availability for its operations, reinforcing stability during ongoing disruptions in the energy sector.
The company has signed a Memorandum of Understanding with Indian Oil Corporation for the supply of fuel to its dredging fleet. The agreement is valued at ₹2,157.07 crore and will remain in effect for a period of five years.
This arrangement is expected to provide a consistent and dependable fuel supply for DCI’s nationwide operations. The partnership is positioned to enhance operational readiness and ensure uninterrupted functioning of critical maritime infrastructure services across the country.
The agreement was formalised on April 16, 2026, in New Delhi in the presence of senior representatives from both organisations.
From IOCL, attendees included K. John Prasad, Country Head for Institutional Business; Piyush Mittal, Executive Director and State Head (TAPSO); Manoj D. Kudale, Chief General Manager for Institutional Business; and Nishant Gulati, DIBH, Vizag DO.
Representing DCI were Capt. S. Divakar, Managing Director and CEO; Capt. K.M. Choudhary, CHOD and General Manager (Business Development); and B.
Durga Prasad Babu, Head of Department (Materials).
The agreement was formally signed by B. Durga Prasad Babu on behalf of DCI, while Nishant Gulati signed on behalf of IOCL.
The MoU strengthens the long-standing association between the two public sector entities and reflects a shared focus on reliability and operational efficiency. By securing fuel supply over the long term, DCI is better positioned to deliver uninterrupted dredging services for major ports and key national infrastructure projects.
The collaboration also highlights the role of public sector enterprises in maintaining stability and efficiency in essential sectors, particularly during periods of global uncertainty.
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As of 17 April 2026, at 3:30 PM, Dredging Corporation of India share price closed at ₹975 per share, reflecting a gain of 0.31% from the previous closing price.
The agreement marks a strategic step for Dredging Corporation of India, ensuring fuel security and operational continuity while reinforcing its role in supporting India’s maritime infrastructure development.
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Published on: Apr 20, 2026, 9:38 AM IST
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