Business Business: Cryogenics technology company Inox India Ltd today announced that it has received its largest order to date. The company has been awarded a major contract by Island Power Producers Ltd for the design, construction and supply of a mini LNG terminal for a power plant project in the Bahamas. Following the announcement, Inox India shares rose and were up two per cent at Rs 1,209 at 10 am. Inox India shares have gained over 36% this year. Last year’s return was around 28 per cent. Its 52-week high is Rs 1506.90 and lowest is Rs 801.55. The order includes the supply of ten 1,500 cubic metre vacuum insulated cryogenic tanks and a regasification system from Inox CVA. According to a report by CNBC News18, Inox India said in a filing to the stock exchanges, the project is located on Arawak Cay near the Nassau cruise port and will support a 60 MW IPP combined cycle power plant. It provides sustainable power supply to cruise ships. Financial details of the project have not been disclosed.
With a total LNG storage capacity of 15,000 cubic metres, the facility will be the world’s largest factory-built, double-walled, vacuum-insulated cryogenic tank and will serve as a model solution for power generation and LNG distribution in remote locations.
Siddharth Jain, promoter and non-executive director, Inox India Ltd, said, “Our high-capacity modular design minimises on-site operations and speeds up project delivery as all key components are manufactured at our Kandla plant, the manufacturer’s location in India. ” Centre. A “Make in India” initiative. This is INOXCVA’s third mini-LNG terminal and the first of its kind in the Caribbean, following the recent completion of another terminal in Antigua.
