The Business Bytes
New Delhi, May 08, 2024 (TBB Bureau): Indian Coast Guard (ICG) and Jindal Steel & Power (JSP)forged a significant partnership on May 7, 2024, in New Delhi with the signing of a Memorandum of Understanding (MoU). This landmark agreement aims to bolster the supply of indigenous marine-grade steel, a move geared towards elevating the indigenous content in shipbuilding endeavors.
Under the umbrella of this MoU, both entities pledge to champion indigenisation efforts, thereby fortifying the nation’s capabilities in producing and utilizing these essential materials for the benefit of the country. The partnership underscores the pivotal role of public-private partnerships in confronting multifaceted security challenges, stressing the imperative of synergistic efforts between governmental bodies and the private sector.
The MoU delineates various pivotal aspects, including quality standards, grades, dimensions, and the identification of specific steel plants entrusted with manufacturing the product. These stipulations serve as a guarantee to shipbuilding yards, ensuring a seamless and timely supply of marine-grade steel crucial for the Indian Coast Guard’s operations.
The signing ceremony witnessed Deputy Director General (Material & Maintenance) of the ICG, IG HK Sharma, and JSP’s Chief Marketing Officer, SK Pradhan, affix their signatures to the agreement. Their commitment was underscored by the presence of senior officers from the Indian Coast Guard, marking a pivotal moment in forging collaborative ties for bolstering national security and indigenous manufacturing capabilities.
