Saraswati Industrial Syndicate has proposed to have a wholly-owned subsidiary (WOS) company namely ISGEC (Tanzania) on April 13, 2012 in the United Republic of Tanzania for undertaking on-shore activities as and when required.
ISGEC (Tanzania) will manufacture and carry out Engineering, Procurement and Construction of projects for various plants and equipments such as Sugar Plants, Sugar Refinery, Ethanol Plants, Distillery, Cement Plants, Boilers, Pressure Vessels and Heat Exchangers.
Further, it will have capital of US Dollars 1,000 equivalent to Tanzanian Shillings 16,00,000 and there will be two nominee directors on board of company.
Saraswati Industrial Syndicate manufactures bars and rods, metal, machine tool parts and accessories, steel and sugar products. The company's principal activity is to manufacture engineering equipments. It operates in two segments: Engineering and Sugar.
