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Home arrow News arrow Business News arrow Cryolor SA sets up Rs 45 cr gas container unit near Chennai
Cryolor SA sets up Rs 45 cr gas container unit near Chennai Print E-mail
Written by Krishna Kumar   
Friday, 20 May 2011
Chennai: Cryolor Asia Pacific, a wholly owned subsidiary of France-based Cryolor SA, is all set to inaugurate it's new manufacturing facility at Melmaruvathur, near Chennai. This is the company's first manufacturing unit outside France.

The company has invested Rs.45 crore in the manufacturing facility, which has a capacity to make around 300 gas containers, with capacities of 10,000 to 60,000 litres, on a single shift basis. It currently employs 70 people.

The company has set a target of achieving a Rs.60 crore revenue by 2015. The gas containers manufactured would have 60 per cent localised content.

Cryolor Asia Pacific will export nearly half of the production at the new facility.

The company plans to invest an additional Rs 70 crore in two phases in the next two to three years to expand its facility to manufacture bigger tankers and very large containers.

The gas containers are sold at Rs 15 to 20 lakh a unit depending upon the size.

 
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