Indian Coast Guard and Jindal Steel & Power Ink MoU to Boost Indigenous Shipbuilding

New Delhi: The Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) have joined forces. On May 7, 2024, both entities formalized their partnership by signing a Memorandum of Understanding (MoU) in New Delhi. The primary objective of this collaboration is to facilitate the supply of indigenous marine-grade steel, thereby enhancing the indigenous content in shipbuilding activities.

Through this strategic alliance, the Indian Coast Guard and Jindal Steel & Power have pledged to promote indigenization efforts and augment capabilities for the production and utilization of marine-grade steel in the nation’s interest. By leveraging the strengths and resources of both parties, the MoU aims to contribute significantly to the advancement of the domestic shipbuilding industry.

The MoU underscores the importance of public-private partnerships in addressing complex security challenges, highlighting the crucial role of collaboration between government agencies and the private sector. It outlines various key benefits, including assurances regarding quality, grades, and dimensions of the marine-grade steel, as well as the identification of designated steel plants responsible for manufacturing the product. These provisions are intended to ensure the timely supply of high-quality marine-grade steel to shipbuilding yards associated with the Indian Coast Guard.

The signing ceremony for the MoU was attended by senior officials from the Indian Coast Guard, including Deputy Director General (Materiel & Maintenance), ICG IG HK Sharma. Representing Jindal Steel & Power, Chief Marketing Officer SK Pradhan was also present to formalize the agreement.