Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, has entered into a significant MoU with Indian Oil Corporation Limited (IOCL) to ensure a continuous and uninterrupted supply of hydraulic and lubricating oils, as well as greases, for a five-year period spanning from 2024 to 2029.
The MoU was officially signed today during a program held at the Main Conference Hall of RINL’s Administrative Building. The documents were exchanged between AK Bagchi, Director (Projects) & additional charge Director (Operations) of RINL, and B. Anil Kumar, Executive Director & State Head (TPSO-Telangana, Andhra Pradesh State Office), IOCL, in the presence of senior officials from both organizations.
In his address, AK Bagchi expressed that the collaboration stands as a benchmark for progressive industrial cooperation towards nation-building. He lauded IOCL for its dedication to developing critical grades of lubricants that meet RINL’s stringent operational requirements.
Uday Kumar, Executive Director (Lubes) of IOCL, hailed the day as a ‘milestone’ in the long-standing partnership between RINL and IOCL, which has endured for over three decades. He attributed this sustained collaboration to mutual trust and professional excellence.
This latest MoU continues a tradition that began with the first agreement between RINL and IOCL in 1994-95. Under the new agreement, IOCL will not only supply lubricants but also offer technical support in areas such as lubrication, condition monitoring of critical systems, and bulk oil handling. Additionally, IOCL will provide training to RINL officials at its R&D center in Faridabad, aiding in the optimization of lubricant consumption at Visakhapatnam Steel Plant.
