Everest Kanto secures Rs 220 cr export order

New Delhi, Apr 25 (UNI) Everest Kanto Cylinder Ltd today said the group has bagged an export order worth Rs 220 crore for supply of specialised cylinders.

It has formed a separate wholly-owned subsidiary EKC Industries (Tianjin) Co Ltd for the purpose and has started construction work in China.

The company plans to invest 50 million dollars in the first phase of its operation. It has also ordered the machines for the project.

The implementation of this project has started picking up speed and is slated to start production in the last quarter of this calendar year with an initial capacity of 2,00,000 cylinders.

The company plans to ramp up the capacity to 1.5 million cylinders in the next three to four years.

UNI