RINL and IOCL Sign 5-Year MoU for Supply of Hydraulic and Lubricating Oils

During the event, Sri AK Bagchi emphasized that this MoU stands as a benchmark for progressive collaboration between industries in the nation-building process.

At a ceremony held in the main conference hall of the administrative building at Visakhapatnam Steel Plant, the corporate entity RINL signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for the supply of hydraulic and lubricating oils and greases. This agreement, covering a period from 2024 to 2029, strengthens the longstanding partnership between the two organizations.

The MoU was exchanged by Sri AK Bagchi, Director (Projects) and additional charge Director (Operations) at RINL, and Sri B. Anil Kumar, Executive Director and State Head (TPSO-Telangana, Andhra Pradesh State Office) at IOCL. The signing took place in the presence of other senior officials, including Sri R. Uday Kumar, Executive Director (Lubes) at IOCL, and Sri U. Sridhar, CGM (Works) I/c at RINL.

During the event, Sri AK Bagchi emphasized that this MoU stands as a benchmark for progressive collaboration between industries in the nation-building process. He expressed gratitude to IOCL for developing critical grades of lubricants to meet RINL's stringent operational requirements.

Sri R. Uday Kumar, in his address, described the MoU as a "milestone day," highlighting the trust and professional excellence that have defined the three-decade-long association between RINL and IOCL.

The first MoU between the two entities was signed in 1994-95, and this latest agreement ensures an uninterrupted supply of lubricants to meet RINL’s needs. IOCL will also provide technical support in areas such as lubrication, condition monitoring of hydraulic and lube systems, bulk oil handling, and used oil management.

Furthermore, IOCL will offer training to Visakhapatnam Steel Plant officials at their R&D center in Faridabad, which is expected to help RINL optimize lubricant consumption and maintain efficient operations.