ISGEC zooms 4 per cent as subsidiary bags breakthrough order for PTA reactor
ISGEC Hitachi Zosen Limited, a subsidiary & joint venture company of ISGEC Heavy Engineering Limited has secured a breakthrough order for a PTA reactor for a public sector petrochemical project of national importance from Technip Energies, Noida. The scope of work includes mechanical design, material procurement, fabrication/testing, and supply of equipment.
The company said in a filing with BSE that the reactor is for INEOS (formerly BP) designed PTA plant. This is the first approval for ISGEC Hitachi Zosen Ltd, India with INEOS and the first order for an INEOS (formerly BP) design.
ISGEC Hitachi Zosen is a joint venture of ISGEC Heavy Engineering Limited, India (Isgec) & Hitachi Zosen Corporation, Japan (HITZ) located at the port town of Dahej (Gujarat). ISGEC is a leading Indian company with diversified engineering-led businesses of process equipment, hydraulic & mechanical presses, boilers, iron & steel castings, turnkey projects in power, infrastructure, air pollution control, and sugar.
HITZ is one of the leading fabricators of process equipment with a global track record of fabricating reactors, pressure vessels, ammonia converters, converter internals, tall columns & other critical equipment. The company is professionally managed with its board having equal representation from HITZ and ISGEC.
The shares of ISGEC Heavy Engineering Ltd jumped 4 per cent to touch a high of Rs 816.75 on BSE during the early market hours on July 29, 2021 (Thursday).