Cryolor Asia Pacific, a wholly-owned subsidiary of the France-based Cryolor S.A., has announced the launch of its green-field gas container manufacturing facility near here.
Cryolor is a recognised name for its cryogenic gas containers, which are used by industrial gas companies. (Cryogenic gases are gases such as oxygen, nitrogen, argon, carbon dioxide LNG in liquefied state at low temperatures.)
According to Mr Ravin Mirchandani, Managing Director, Cryolor Asia Pacific, the company has invested Rs 45 crore in its new facility near Melmaruvathur, in the outskirts of Chennai. About half of the production will be exported. The facility can manufacture 300 storage units a year.
These storage units are sold for Rs 15 to 20 lakh a unit depending upon the size. The company also plans another Rs 70 crore investment in two phases in the next two to three years to expand its facility to manufacture bigger tankers and very large containers.