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Cryogenic liquid storage tanks maker, INOXCVA will set up a new cryogenic tank manufacturing facility at Savli in Vadodara.
The company announced signing of Memorandum of Understanding (MoU) with Government of Gujarat to set up the new facility with an investment of ₹200 crore.
The MoU was signed during a ceremony on February 20, 2023, in the presence of Bhupendra Patel, Chief Minister, Gujarat.
With the emerging need for clean and pure Liquid Medical Oxygen storage facility in hospitals, INOXCVA planned to set up the new state-of-the-art manufacturing facility at Savli, Vadodara. It will make liquid medical oxygen storage tanks and other cryogenic and non-cryogenic storage equipment.
The new project will be set up across 30 acres and is expected to generate employment opportunities for 500 people.
Siddharth Jain, Executive Director, INOXCVA said, “We are committed to expanding the healthcare infrastructure in India and good quality storage infrastructure plays a key role providing clean and pure Liquid Medical Oxygen Storage Facility in hospitals. Besides ushering in an investment of ₹200 crore, the new facility will create employment opportunities for at least 500 people in the State.”
INOXCVA aims to provide Liquid Medical Oxygen Storage facility to all hospitals across the country, including those in remote regions, the company said in a statement.
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