Isgec and Hitachi Zosen enter into JV [May 2012]

May 26, 2012 8:30 am

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.