On 16 April 2026 Dredging Corporation of India Limited (DCI) signed a memorandum of understanding with Indian Oil Corporation Limited (IOCL) for long term fuel supply to its dredging fleet.

The agreement, valued at Rs 21,570.7 mn, covers a period of five years and is intended to secure steady and reliable fuel provision for DCI operations across the country.

The MoU will support operational preparedness and ensure continuity of dredging services for major ports and national projects. Under the terms DCI will receive scheduled supplies to sustain its fleet and maintenance activities, reducing the risk of service interruptions during periods of market volatility. The partnership is expected to streamline logistics and planning for fuel procurement and storage across regional operational hubs.

The signing ceremony on 16 April was attended by senior officials from both organisations, including K. John Prasad, country head, institutional business, and Piyush Mittal, executive director and state head, from IOCL, and Capt. S. Divakar, managing director and chief executive, Capt. K. M. Choudhary, chief harbour officer and general manager business development, and B. Durga Prasad Babu, head of materials, from DCI. The memorandum was signed on behalf of DCI by B. Durga Prasad Babu and on behalf of IOCL by Nishant Gulati of the Vizag distribution office.

The collaboration was described by the organisations as a reinforcement of their long standing association and a shared commitment to operational excellence and reliability. By securing a long term supply arrangement during a period of energy uncertainty DCI will bolster its capability to deliver uninterrupted dredging operations nationwide. The partnership underscores the continuing role of public sector enterprises in maintaining stability and efficiency in critical sectors of the economy.