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

Visakhapatnam: In a strategic move to secure the supply of essential hydraulic and lubricating oils, the Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for a five-year period from 2024 to 2029. The agreement ensures uninterrupted supply of oils and greases vital for the plant’s operations.

The MoU was officially exchanged in a ceremony at RINL’s main conference hall, with Sri AK Bagchi, Director (Projects) & additional charge Director (Operations) of RINL, and Sri B. Anil Kumar, ED & State Head of IOCL (Telangana, Andhra Pradesh State Office), representing their respective organizations. The event was attended by senior officials from both RINL and IOCL, marking a significant collaboration between the two entities.

Speaking at the occasion, Sri AK Bagchi emphasized the importance of the MoU as a symbol of progressive collaboration between industries towards nation-building. He praised IOCL for developing critical grades of lubricants tailored to meet RINL’s stringent operational needs.

Sri R. Uday Kumar, ED (Lubes) at IOCL, hailed the MoU as a “milestone day,” highlighting the three-decade-long relationship between RINL and IOCL, built on trust and professional excellence. He emphasized that the ongoing partnership has continued to evolve since the first MoU was signed between the two companies in 1994-95.

The agreement will benefit RINL by ensuring a continuous supply of lubricants, with IOCL providing technical support in lubrication, condition monitoring of large hydraulic systems, bulk oil handling, and used oil management. Additionally, IOCL will offer training to RINL officials at its R&D center in Faridabad, helping the steel plant optimize lubricant consumption.