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BEML Limited and Dredging Corporation of India Limited (DCI) signed a Memorandum of Understanding (MoU) yesterday, aimed at advancing the design, development, and manufacturing of spare parts for dredging vessels.
The MoU, signed by BEML CMD Shantanu Roy and MD & CEO of DCIL Capt S Divakar at BEML headquarters at Bengaluru, establishes a partnership valid for an initial period of three years, extendable by mutual agreement.
According to BEML, the collaboration entails joint efforts in the development and manufacturing of dredgers, leveraging technology partnerships from Original Equipment Manufacturers (OEMs) in the industry.
DCI said that, in line with the ‘Make in India’ initiative, they have already embarked on an import substitution program for spares procurement to reduce lead time, costs, and save foreign exchange.
This collaboration with BEML is to enable DCI to procure a significant portion of hydraulic aggregates, casting, and fabrication items domestically, enhancing dredger availability, cost-effectiveness, and competitiveness in both the Indian and global markets, the companies said.