Isgec and Hitachi Zosen enter into JV [May 2012]

By admin May 26, 2012 8:30 am IST

India’s Isgec Heavy Engineering announced joint venture with Japan’s Hitachi Zosen Corporation and set up 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 Corp). Isgec Heavy Engineering is a leading supplier of process equipment globally and Hitachi Zosen Corporation is a major Japanese engineering corporation. Isgec Hitachi Zosen will utilise manufacturing facility of Isgec located at Dahej in Gujarat. The capital for the new company is pegged at Rs. 100 crore.