InoxCVA, a producer of cryogenic liquid storage, distribution, and regassification solutions, would invest Rs 200 crore in the construction of a manufacturing facility in Vadodara.
According to a statement, the company’s largest unit, a 20,000 tonne per year facility, would be built in Savli. The project’s groundbreaking comes after the firm and the Gujarati government inked an Agreement last month. The 30-acre facility, according to business head Siddharth Jain, will increase local production capacity for cryogenic equipment. During several contacts, firm officials would not divulge information regarding installed capacity or domestic market capacity. The greenfield project will fabricate over 20,000 tonnes of stainless steel equipment per annum and will be also able to produce over 2,500 cryogenic equipment annually, Jaini said.
