InoxCVA, a provider of storage, distribution and regasification solutions for cryogenic liquids, will construct a manufacturing facility in Vadodara with an investment of Rs 200 billion. The 20,000-tonne-per-year plant will be built in Savli and will be the company’s largest unit, according to a statement Thursday.
Groundbreaking for the project follows a memorandum of understanding the company signed with the Gujarat government last month.
Siddharth Jain, a director of the company, claimed the 30-acre unit will double current domestic production capacity for cryogenic equipment.
Despite repeated calls, the company representatives did not provide any details about the domestic market capacity or their own installed capacity.
The greenfield project will produce over 20,000 tons of stainless steel equipment per year and will also be capable of producing over 2,500 cryogenic equipment annually, Jaini said.
Cryogenic tanks have numerous green fuel applications, including liquid hydrogen and LNG.
Source: News Network
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