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France-based Cryolor SA has announced on Wednesday (April 22) to install a cryogenic gas storage equipment plant near Chennai. Cryolor SA is a part of $17-billion Air Liquide group. According to a statement from the company, the gas storage equipment plant at Chennai will be developed by Cryolor Asia Pacific, the Indian arm of Cryolor SA.
The cryogenic gas storage plant will be utilized for liquefied gases such as liquid oxygen, nitrogen and liquefied natural gas. While informing about the proposed plant, Cryolor Asia Pacific managing director Ravin Mirchandani said that during the first phase an investment of Rs.45 crore will be made which is likely to be completed by 2010. The company will manufacture complimentary range of products like larger storage tanks and transportation equipment in the second phase, he informed.
The company picked Chennai to set up the cryogenic gas storage plant because of the high-quality infrastructure of the city. Chennai also has a strong base of supplying manpower for the plant. The France-based company has been doing its business with India for the past 19 years, claimed Ravin Mirchandani. According the Mirchandani the products prepared at Chennai palnt will be exported to the Middle East and Southeast Asia.
