December 04, 2008

Everest Kanto to commission its plant in China by mid January

Mr Prem Khurana chairman of industrial and CNG storage cylinder maker Everest Kanto Cylinder announced plans to commission its plant in China by mid January 2008.

Everest Kanto will invest USD 50 million to manufacture 1 million cylinders in a 65:35 JV with Congzhou Gas of China. For starters, it will make 200,000 industrial cylinders and 5,000 jumbo cylinders that are used for bulk storage and transportation of gas.

Mr Khurana said that “The advantage with China is that raw material is 15% cheaper.”

Everest Kanto completed the expansion in Dubai in September 2007, it, where it doubled the cylinder making capacity to 200,000 per annum. It also plans to expand capacity at Gandhidham and set up an SEZ in Kandla.