Cryolor's unit to go on stream

The new manufacturing facility set up by Cryolor Asia Pacific, a 100 per cent subsidiary of Cryolor S.A. of France, which is part of the Air Liquide Group, will go on stream on Friday. Air Liquide is a world leader in industrial gases, health and the environment, and is present in 80 countries.

Addressing presspersons here on Wednesday, Ravin Mirchandani, Managing Director, said the Rs.45-crore state-of-the-art facility, the first unit outside France, located at Melmaruvathur close to Chennai, would produce cryogenic storage equipment.

Spread over 15,000 sq. metre, the facility had production stages identical to its line in Europe. The Chennai unit was capable of manufacturing 300 cryogenic storage tanks a year with a capacity of 10,000-60,000 litres. The first consignment would be sent to Bhutan. The products manufactured from this facility would have 60 per cent indigenisation initially.

Mr. Mirchandani said 50 per cent of production from the Chennai unit would cater to the domestic market and the balance would be exported. Mr. Mirchandani said in the second phase, the company was planning to make Rs.23-25 crore additional investment towards expanding product range by manufacturing tankers to meet the requirements and expectations of industrial gas and LNG industry customers. The Indian subsidiary set a revenue target of Rs.60 crore by 2015.