Chennai, April 22 (Inditop) France’s Cryolor SA, part of the $17-billion Air Liquide group, will set up a cryogenic gas storage equipment plant near here, a top official said Wednesday.
Cryolor Asia Pacific, the Indian arm of Cryolor SA, will manufacture storage equipment for liquefied gases such as liquid oxygen, nitrogen and liquefied natural gas, company managing director Ravin Mirchandani told reporters here.
“The investment during the first phase, expected to be completed by 2010, will be Rs.45 crore. In the second phase, planned couple of years later, the company will manufacture complimentary range of products like larger storage tanks and transportation equipment,” he added.
According to Mirchandani, Cryolor has been selling its products in India for the past 19 years.
He said the Chennai facility would also ship out products to the Middle East and Southeast Asia.