ISGEC Heavy Engineering sings MoU with NSDC of Nigeria to support sugar industry projects
ISGEC Heavy Engineering Ltd partners with National Sugar Development Council to support sugar plant development in Nigeria. The deal covers technical consulting, feasibility, and training, boosting Nigeria’s self-sufficiency goals while expanding ISGEC’s presence and opportunities in the African sugar industry.
Noida: ISGEC Heavy Engineering Ltd has entered into an agreement with the National Sugar Development Council (NSDC) of Nigeria to provide technical support for the development of sugar plants in the African nation.
According to details shared by the company with the exchange, the agreement focuses on offering technical assistance for both new and existing sugar projects in Nigeria. The scope includes preparing feasibility studies, estimating project costs, assessing and valuing assets, and providing design and technical solutions for sugar plants. The company will also support training and capacity-building initiatives related to these projects.
The arrangement is international in nature and does not involve any equity exchange or financial consideration between the two parties. The company clarified that the agreement is not a related-party transaction, and that none of its promoters or group companies have any interest in the Nigerian entity.
The NSDC, a central government agency in Nigeria, plays a key role in shaping the country’s sugar sector. It is responsible for implementing policies under the National Sugar Master Plan, promoting investment, and supporting local sugar production to reduce reliance on imports.
Industry observers say the collaboration could help Nigeria strengthen its domestic sugar industry while providing ISGEC with access to new project opportunities in the region. The company is expected to benefit from increased visibility in Nigeria and across the African sugar market as it expands its international footprint.
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Source : Chinimandi
