InoxCVA to set up cryogenic tank facility in Vadodara for Rs 200 crore
Cryogenic liquid storage, distribution and re-gassification solutions provider InoxCVA will set up a manufacturing facility in Vadodara with an investment of Rs 200 crore.
The 20,000 tonne per annum plant will come up at Savli, and will be the company's largest unit, according to a statement on Thursday.
The ground-breaking for the project follows an MoU signed by the company with the Gujarat government last month.
Siddharth Jain, a director of the company, claimed the 30-acre unit will double the present domestic cryogenic equipment manufacturing capacity.
The company representatives, despite repeated calls, did not share details about the domestic market capacity or its own installed capacity.
The greenfield project will fabricate over 20,000 tonnes of stainless steel equipment per annum and will be also able to produce over 2,500 cryogenic equipment annually, Jaini said.
Cryogenic tanks have numerous green fuel applications for liquid hydrogen and LNG, among others.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)