Isgec Heavy Engineering Ltd
of India and Hitachi Zosen
Corporation of Japan have
announced the formation of a
joint venture, Isgec Hitachi
Zosen Ltd, for manufacturing
specialised and critical process
equipment. The new company
has a shareholding pattern of 51
per cent (Isgec) to 49 per cent
(Hitachi Zosen Corporation).
The majority stakeholder,
Isgec Heavy Engineering Ltd,
is a leading supplier of
process equipment globally
and Hitachi Zosen Corporation
is a major Japanese
engineering corporation.
Isgec Hitachi Zosen Ltd will
utilise one of the manufacturing
facilities of Isgec located
Dahej in Gujarat. The capital
for the new company is pegged
at
100 crore.
Speaking about this development,
Aditya Puri, Managing
Director, Isgec Heavy Engineering
Ltd, and Director,
Isgec Hitachi Zosen Ltd, said:
"We are happy to expand our
relationship with Hitachi
Zosen Corporation from a technology
transfer agreement to a
joint venture. The JV will cater
to the specialised and critical
process equipment requirements
of refineries, fertiliser
and petrochemical industries
all across the world. Isgec's
expertise and manufacturing
capabilities in India are a
perfect fit for the stateof-
the-art technical and
engineering skills of Hitachi
Zosen Corporation."
"The new venture will be
manned by personnel from
India and Japan, with active
support from both the partner
companies, in all activities,
including design and marketing.
The market offers a huge
opportunity for us since there
are not many companies in the
world that offer products that
fall in our portfolio. Products
like vanadium modified heavy
chrome-moly reactors for oil
refineries and critical equipment
for the fertiliser industry
like ammonia converters and
urea reactors," said Sanjay
Gulati, Managing Director,
Isgec Hitachi Zosen Ltd.