Sugar plant in Zambia
By A Business Correspondent
The Indian Sugar & General Engineering Corporation has bagged a Rs 26.5-crore contract for setting up an integrated sugar plant near Lusaka in Zambia. ISGEC signed the contract with Consolidated Farming Ltd, a unit of Stable group, Zambia. The corporation will complete the shipment of machinery and equipment within nine months. The plant is slated for commissioning in April. The plant will integrated and have provision for generation of power from bagasse.
Consolidated Farming Ltd has received a term loan for the project from PTA Bank, Nairobi. Part of this term loan is a tie-up with an existing line of credit extended to PTA Bank by the Exim Bank of India.
ISGEC has projects in over 45 countries. Some of its major orders include setting up an integrated sugar plant in Vietnam, exporting boiler drums to the US, heat exchangers to Singapore and mechanical presses to France.