Dredging Corporation of India Limited has informed the Exchange regarding a press release dated April 17, 2026, titled "PRESS RELEASE-Amid energy sector disruptions,dredging corporation of India signs Rs.2,157 crores.".
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Dredging Corporation of India Limited (DCI) has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for the supply of fuel to its dredging fleet. The agreement is valued at Rs. 2,157.07 crores and will be valid for five years. The MoU was signed on April 16, 2026, in New Delhi, with senior officials from both organizations attending the ceremony. This strategic partnership ensures a steady and reliable fuel supply for DCI's operations across the country, strengthening operational preparedness during ongoing energy sector disruptions.
This long-term fuel supply agreement secures DCI's operational continuity and reduces fuel procurement risks, which is positive for shareholders as it ensures uninterrupted dredging services for major ports and national projects.