ISGEC Heavy Engineering shines on winning order from Hindalco Industries

ISGEC Heavy Engineering Limited has won its first breakthrough order for a semi-dry FGD system (circulating fluidised bed scrubbers) from Hindalco Industries for its 150 MW unit at Mahan Aluminium in Singrauli (Madhya Pradesh).

Though the letter of intent (LOI) was received in February 2020, yet the contract signing could take place after the lockdown was lifted. The project was won through competitive bidding against other technology providers.

The company has a technology licensing agreement with Sumitomo SHI FW (SFW) for semi-dry FGD (circulating fluidised bed scrubbers) and it is this advanced technology that will be used for Hindalco project as a first for the Indian market.

The broad scope of the project includes designing, engineering, manufacturing, supply, civil works, construction, commissioning, and performance guarantee testing for the complete semi-dry flue gas desulphurisation system package (SDFGD) for 150 MW unit. The project, with an order value of Rs 126.5 crore, is scheduled to be completed within 22 months. As of FY20, the company’s order book stood at Rs 6,916 crore.

The business verticals of ISGEC Heavy Engineering include process equipment, EPC projects, boilers, sugar plants and machinery, presses, steel & iron casting, air pollution control equipment, contract manufacturing, and liquid gas container. With such a diversified business, it caters to various industries such as power, fertiliser, steel, oil & gas, cement, defence, automobiles, sugar, and chemicals. The company serves engineering products to almost 87 countries.

Today, the stock of ISGEC Heavy Engineering opened at Rs 272.10 and gained nearly seven per cent and made an intraday high of Rs 282 on BSE.