ISGEC Heavy Engineering JV bags major order for PTA Reactor; Stock jumps 3%

The scope of work includes Mechanical Design, Material Procurement, Fabrication/Testing, and Supply of Equipment.

Jul 29, 2021 09:07 IST India Infoline News Service

Isgec Hitachi Zosen Limited, a joint venture of ISGEC Heavy Engineering has received a major 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 Reactor is for INEOS (formerly BP) designed PTA Plant, the company said in the filing.

This is the first approval for Isgec Hitachi Zosen Ltd., India (a joint venture of Isgec Heavy Engineering Ltd. India and Hitachi Zosen Corporation, Japan) with INEOS and the first order for an INEOS (formerly BP) design.

At around 9:25 AM, ISGEC Heavy Engineering was trading at Rs808.30 per piece up by Rs22.55 or 2.87% on Sensex.

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