The Indian Coast Guard (ICG) and a leading industry group have joined hands for manufacturing and supply of indigenous marine-grade aluminium to the country's public and private shipyards for the construction of ships, the defence ministry said on Friday.

In a statement, it said ICG and Hindalco Industries inked a Memorandum of Understanding (MoU) here on Thursday. The MoU is for the manufacturing and supply of indigenous marine-grade aluminium to Indian public and private shipyards for ship construction.

"It will also provide benefits such as quarterly pricing, priority in supplies and turnover discount," the statement added.

The ICG fleet is presently operating 67 ships with aluminium hulls with the capability of operating in shallow waters. To further boost coastal security, it has planned to induct more such vessels where the indigenously manufactured marine-grade aluminium will be utilised, the ministry said.

The MoU was signed in the presence of senior officials of the ICG and Hindalco.