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Home arrow News arrow Business News arrow Time Technoplast Ltd launches high tech Composite Cylinders
Time Technoplast Ltd launches high tech Composite Cylinders Print E-mail
Written by Vijay   
Thursday, 14 January 2010
Mumbai: Time Technoplast Ltd has announced the launch of it's high tech Composite Cylinders for LPG in the Indian market. The company is currently in the process of setting up a manufacturing unit at Talasari (Maharashtra) with a capacity of one million cylinders per annum with an initial investment of INR 550 million. This facility will be operational by April 2011.

In the intervening period, Time Technoplast shall offer Composite cylinders for the Indian market out of its subsidiary – Kompozit-Praha, Czech Republic.

Time Technoplast Ltd. only recently completed the acquisition of 99% holding in Kompozit-Praha, Czech Republic, engaged in manufacturing of high tech Composite Cylinders. Kompozit-Praha (KP) is one of the three producers of such cylinders worldwide.

Based on an extensive market survey carried out recently, TimtTech is convinced about huge business potential for Composite LPG Cylinders in Asian region, more particularly India, Middle East, Thailand and Malaysia. To start with, these markets shall be fed from the production facilities in Czech Republic and India followed by additional production facility in the regions with larger business potential.

The Cylinders produced by KP are based on advanced technology and know-how which originally came from the aerospace sector.

Composite Cylinders are explosion proof and can withstand three times higher pressure before leaking locally (no explosion). These cylinders are aesthetically appealing, light weight (approx 1/3rd), non-corrosive, rust proof and maintenance free. The special construction material (glass reinforced fibre) allows consumers to see the level of gas inside the cylinder.

Time Technoplast is hopeful of riding on the spurt in demand and replacement of metal cylinders with Composite Cylinders owing to operational advantages.

India has over 150 million gas cylinders in circulation with an addition of 12 million every year with projected growth rate of 12 – 15 % pa. Oil Marketing Companies have announced additional 55 million gas connections in rural sector in next 5 years which will generate a huge demand for cylinders.

Currently a large number of high pressure metal cylinders are being used for CNG applications specially in automotive sector. Kompozit-Praha (KP) has already developed Type-4 Composite Cylinders for CNG which can withstand bursting pressure exceeding 600 bar. Being light weight (better fuel efficiency) and explosion proof, such Composite Cylinders are being preferred over metal cylinders for CNG run vehicles. KP would launch such cylinders in Europe in 2010 end and CNG Composite cylinders would also become available for Indian market in 2011.

 
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