RINL, the corporate entity of Visakhapatnam Steel Plant, and IOCL have formalized a Memorandum of Understanding (MoU) for the supply of hydraulic and lubricating oils and greases. This agreement will be in effect for five years, from 2024 to 2029. The MoU was signed at a ceremony held in the Main Conference Hall of RINL’s administrative building.
The MoU was exchanged by Sri AK Bagchi, Director (Projects) and Acting Director (Operations) at RINL, and Sri B. Anil Kumar, ED and State Head (TPSO-Telangana, Andhra Pradesh) at IOCL. The event was attended by key officials including Sri R. Uday Kumar, ED (Lubes) at IOCL, and several senior RINL and IOCL representatives.
Sri AK Bagchi highlighted that this MoU sets a standard for effective industry collaboration, benefiting national development. He expressed appreciation to IOCL for creating specialized lubricants to meet RINL’s rigorous operational demands.
Sri R. Uday Kumar described the MoU as a significant milestone, acknowledging the longstanding partnership between RINL and IOCL, which began in 1994-95.
Under this agreement, IOCL will ensure a steady supply of lubricants, provide technical support for lubrication, condition monitoring, and bulk oil handling, and manage used oil for RINL. Additionally, IOCL will offer training at its R&D center in Faridabad, aiming to optimize lubricant consumption at the Visakhapatnam Steel Plant.
