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Isgec Heavy Engineering amends JV agreement with Hitachi Zosen Corporation

16 Dec 2021 Evaluate

Isgec Heavy Engineering (ISGEC) has amended Joint Venture (JV) Agreement with Hitachi Zosen Corporation (HITZ) with effect from December 14, 2021. ISGEC and HITZ, pursuant to the Joint Venture Agreement have formed and incorporated a joint venture company namely Isgec Hitachi Zosen Limited on March 21, 2012 to design, manufacture, repair, trade, export, import, undertake research and develop or otherwise deal in all type of plant and machinery including Pressure Vessels, Heat Exchangers, Reactors excluding Nuclear Reactors, Columns, Boilers, Condensers, Evaporators & other allied equipments, Spares, Components and Accessories for all industries including Process Industries and Power Plant Conventional/Solar/Wind, but excluding Nuclear Energy generating machinery.

The Amendment of Joint Venture Agreement will enable the Joint Venture Company (JVC) for direct booking of orders in case both ISGEC and HITZ agree in addition to orders from government undertakings. Earlier, Sale Orders for products manufactured by JVC can only be awarded by ISGEC or HITZ except in case of public sector undertakings in India where the JVC may directly be awarded the Sale Orders.

Isgec Heavy Engineering is a multi-product, multi-location public company that has been providing engineering solutions to customers around the world for the past many years.

ISGEC Heavy Engg. Share Price

1072.55 25.95 (2.48%)
22-Apr-2026 13:09 View Price Chart
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