Cryolor, French industrial gas tanks manufacturer and a 100 per cent subsidiary of Cryolor SA, has decided to set up a manufacturing facility near Chennai.

The plant would be setup at Melmaruvattur in Chennai, covering a built up area of 15,000 sq. m.

The company intends to pump an investment worth Rs 45 crore on the plant through its fully owned subsidiary Cryolor Asia Pacific.

According to company officials, under the first phase it would manufacture storage equipment with a capacity of 10,000-60,000 litres for liquefied cryogenic gases.

However, in the second phase, it would construct an additional plant in the same location to manufacture larger storage tanks.

The proposed unit would cater to needs of South and South East Asia, Asia Pacific, West Asia, and even consumers of United States.

The plant is expected to be operational by February next year.

It should be noted that latest proposed facility will be the company's second production facility and the first outside France.