ISGEC Heavy Engg inks MoU with Nigeria?s NSDC to support sugar industry

The company will provide technical support for development of feasibility studies, preparation of cost estimates, assessment & valuation of assets, offering technical solutions and training related to greenfield and brownfield sugar plant projects in Nigeria.

National Sugar Development Council (NSDC), Nigeria is a Governmental Central Nodal agency which plays a central role in developing Nigeria's sugar industry through policy formulation and regulation, including implementation of the National Sugar Master Plan, which guides domestic sugar production, investment, and backward integration initiatives.

The council also oversees major local sugar companies in establishing sugarcane cultivation projects aimed at reducing Nigeria?s heavy dependence on imported raw sugar. In addition, it promotes investments in the sector, ensures monitoring and compliance, and provides technical support through research, capacity building, and industry assistance.

Further, the NSDC works closely with the government to administer sugar import levies and duties, with proceeds directed toward strengthening local industry development and gradually lowering import dependence over time.

The company said it shall gain access to new business opportunities for sugar plant projects in Nigeria and have enhanced visibility in the sugar industry, both in Nigeria and the African continent.

ISGEC Heavy Engineering is a global leader in manufacturing, industrial projects, and sugar. On a consolidated basis, net profit came in at Rs 69.78 crore in Q3 FY26, soaring 247.7% from Rs 20.07 crore in Q3 FY25. Revenue from operations stood at Rs 1,738.56 crore in Q3 FY26, up 16.26%, compared with Rs 1,495.39 crore in Q3 FY25.

The counter shed 0.73% to end at Rs 1035.70 on the BSE.