MUMBAI: RINL, the corporate entity of Visakhapatnam Steel Plant (VSP), has signed an initial agreement with IOCL for the supply of hydraulic and lubricating oils and greases for a period of five years, from 2024 to 2029.
“This MoU between RINL and IOCL will stand as a benchmark for how progressive collaboration between different industries can contribute to nation-building. Sri AK Bagchi expressed gratitude to IOCL for developing several critical grades of lubricants to meet the stringent operational requirements of RINL,” said AK Bagchi, Director (Projects) and Additional Charge Director (Operations) at RINL.
According to a release, VSP will benefit from this MoU by ensuring that IOCL provides lubricants continuously and without interruption to meet RINL’s requirements. The Visakhapatnam steel plant will also receive technical support from IOCL in areas such as lubrication, condition monitoring of critical hydraulic and lubrication systems, bulk oil handling, and used oil management.
Additionally, IOCL will provide training for RINL officials at its R&D center in Faridabad. This will help RINL reduce lubricant consumption and maintain optimal levels of usage, the release added.