By: ICN Bureau
Last updated : April 12, 2023 8:42 am
The company has undertaken Phase-Il expansion plan for increasing manufacturing capacity by 600 cascades per annum with a total capital outlay of Rs. 125 crores
Time Technoplast Limited has received an order from a major gas distribution company, Indraprastha Gas Limited (IGL), a Joint Venture of GAIL, BPCL and Govt. of NCT Delhi, for supply of CNG Cascades (TYPE-IV Composite Cylinders) for a value of Rs 54 crores.
The company had already announced orders from major gas distribution companies like Bharat Petroleum Corporation Limited (BPCL), Mahanagar Gas Limited (MGL), Maharashtra Natural Gas Limited (MNGL), Adani Total Gas Limited, and many more.
Due to overwhelming response and existing enhanced capacity (Phase-I completed in FY 2022-23) sold out completely, the company has undertaken Phase-Il expansion plan for increasing manufacturing capacity by 600 cascades per annum with a total capital outlay of Rs. 125 crores. Subsequent to this expansion which will be completed by the end of FY 2023-24, the total manufacturing capacity will be 1,080 cascades per annum. Further, the company is also making provision for manufacturing of hydrogen cylinders for seed marketing.