Business Update28 Oct 2024, 11:22 pm
Supreme Industries Receives Approval for Type-IV Composite CNG Cylinders Manufacturing
AI Summary
Supreme Industries Ltd. has announced that it has received approval from Petroleum and Explosive Safety Organization (PESO) to manufacture and market 265 Ltrs. Type-IV Composite CNG Cylinders. The company has set up a pilot plant with an annual installed capacity of 3600 cylinders, having a revenue potential of about 60 crore per annum. The capacity will be further enhanced to address the growing market for composite CNG cylinders. The composite CNG cylinders for cascades are lighter in weight compared to currently used steel CNG cylinders. Supreme Industries is the second manufacturer in India to get the approval to manufacture Type-IV Composite CNG Cylinders.
Key Highlights
- Supreme Industries received approval from PESO to manufacture Type-IV Composite CNG Cylinders
- The company has an annual installed capacity of 3600 cylinders with a revenue potential of about 60 crore per annum
- Composite CNG cylinders are lighter in weight compared to currently used steel CNG cylinders
- Supreme Industries is the second manufacturer in India to get the approval for Type-IV Composite CNG Cylinders
- The demand for CNG tanks is increasing due to the market shift of vehicles towards CNG, which is cheaper and environment friendly