ISGEC rises after its JV secures order for critical reactors for USA

ISGEC Heavy Engineering Limited, a leading domestic company engaged in diversified engineering-led businesses, announced today that ISGEC Hitachi Zosen Ltd (a joint venture of the company) has secured an esteemed order for the provision of four reactors of vanadium-modified low alloy steel for a renewable energy project in the USA. This is the first order of ISGEC Hitachi Zosen Ltd for supplying such reactors to the USA.  

ISGEC Hitachi Zosen Ltd is a joint venture (JV) between ISGEC Heavy Engineering Limited and Hitachi Zosen Corporation (based in Japan). Moreover, this order marks the JV’s foray into the global green energy initiative.  

The project scope entails mechanical design, material procurement, fabrication, testing, and supply of equipment. The renewable energy project, which is under execution, will convert vegetable oils to synthetic transport fuels.  

Reacting to this development, at 11.50 am, the share price of ISGEC Heavy Engineering Limited was trading at Rs 851.90, an increase of 2.39 per cent over its previous day’s closing price of Rs 832 on BSE.