National, 20th February, 2023: Indian multinational and one of the world’s leading Cryogenic Liquid Storage, Distribution and Re-Gas solutions provider, INOXCVA today announced the signing of a Memorandum of Understanding (MoU) with the Government of Gujarat to set up a new cryogenic tank manufacturing facility at Savli, Vadodara. The MoU was signed during a ceremony on February 20, 2023, in the presence of Hon’ble Chief Minister of Gujarat Sh Bhupendra Patel.
With the emerging need for clean and pure Liquid Medical Oxygen Storage Facility in hospitals, INOXCVA is planning to set up a new plant at Savli, Vadodara. The new state-of-the-art manufacturing facility will produce Liquid Medical Oxygen Storage Tanks and other cryogenic and non-cryogenic storage equipment.
INOXCVA's new project in Savli, Vadodara, will see a significant investment of Rs. 200 Crores and will span over 30 acres of land. The project is expected to generate employment opportunities for at least 500 people from the surrounding areas, contributing to the local economy. As part of its commitment to expanding healthcare infrastructure, the company seeks the support of the Government of Gujarat through the Vibrant Gujarat initiative to realize the project at the earliest. INOXCVA aims to provide Liquid Medical Oxygen Storage facility to all hospitals across the country, including those in remote regions.
Talking about the signing of the historic MoU, Siddharth Jain, Executive Director, INOXCVA said, “We are honored to receive wonderful support from the Government of Gujarat in setting up this advanced cryogenic tank manufacturing facility in Vadodara. We are committed to expanding the healthcare infrastructure in India and good quality storage infrastructure plays a key role providing clean and pure Liquid Medical Oxygen Storage Facility in hospitals. Besides ushering in an investment of Rs 200 Cr, the new facility will create employment opportunities for at least 500 people in the State. We are looking forward to this new milestone in our journey.”