INOX CVA is setting up a new Rs 200 crore plant in Gujarat

New Delhi (Best Hindu News): INOXCVA, an Indian company that manufactures tanks and equipment for storage, distribution and regasification of gases in cryogenic condition, has started the construction work of its new plant at Savli in Vadodara (Gujarat). It ranks among the world’s leading companies in this field.
Company director Siddharth Jain presided over the groundbreaking ceremony of the new factory being built at Savli with an investment of Rs 200 crore, the company said in a release issued on Thursday. The company has said that this factory is being set up in an area of ​​30 acres and it will be the largest factory for manufacturing cryogenic equipment (tanks) in the country.
This factory will have the facility to fabricate 20,000 tonnes of stainless steel annually and will be able to manufacture 2,500 cryogenic equipment every year.
A Memorandum of Understanding (MoU) for this factory was signed between the Gujarat government and the company on February 20 in the presence of Chief Minister Bhupendra Patel.
The new facility will enhance the country’s capacity to manufacture storage and transportation solutions for cryogenic gases such as liquid nitrogen, liquid argon, liquid carbon dioxide and liquid medical oxygen. This will also help in strengthening the medical infrastructure of the country. Mr. Jain said that this state-of-the-art cryogenic equipment factory will also expand employment opportunities in Gujarat.