 "Time Technoplast to expand composite cylinders production capacity")
In order to meet the growing demand for plastics containers used in the distribution of LPG, the Mumbai-based Time Technoplast is increasing the production capacity of its LiteSafe composite cylinders. “To meet the growing demand for composite cylinders, the company is expanding its capacity from 3,00,000 cylinders to 700,000 cylinders per annum in India and the additional capacity will be operational not later than March 2016,” said Time Technoplast in a press release.
Minister of Petroleum had recently announced that public sector oil marketing companies’ (OMCs) would soon roll out composite cylinders for distribution of LPG in India. Pursuant to government policy, a leading oil marketing company, has placed trial order for LiteSafe composite cylinders with Time Technoplast which will soon be launched in Maharashtra and Gujarat.
This trial order is a precursor to significantly large quantities to be ordered by all OMCs immediately after successful trials. OMC has initiated order for 3 sizes and further order for another 2 sizes is expected to be finalised shortly. Based on the response, OMCs will standardise design and size of composite cylinders to be introduced in large quantities. India has approximately 280 million steel cylinders in circulation and over 25 million cylinders are bought by OMCs every year. Going forward, composite cylinders are likely to take significant part of new cylinders bought by OMCs.
Total population of steel cylinders worldwide is 2.5 billion for LPG distribution and about 90 million cylinders are brought every year for replacement and additional roll outs. Present share of composite cylinder is around 2 percent which is expected to go up to 10-12 percent by year 2020. Time Technoplast will be one of the biggest beneficiary of growing acceptance of composite cylinders owing to numerous operational and technical advantages over steel cylinders, claims the company.
Minister of Petroleum had recently announced that public sector oil marketing companies’ (OMCs) would soon roll out composite cylinders for distribution of LPG in India. Pursuant to government policy, a leading oil marketing company, has placed trial order for LiteSafe composite cylinders with Time Technoplast which will soon be launched in Maharashtra and Gujarat.
This trial order is a precursor to significantly large quantities to be ordered by all OMCs immediately after successful trials. OMC has initiated order for 3 sizes and further order for another 2 sizes is expected to be finalised shortly. Based on the response, OMCs will standardise design and size of composite cylinders to be introduced in large quantities. India has approximately 280 million steel cylinders in circulation and over 25 million cylinders are bought by OMCs every year. Going forward, composite cylinders are likely to take significant part of new cylinders bought by OMCs.
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“TimeTech’s LiteSafe composite cylinders are totally explosion proof, translucent (to see the level of gas inside), much lighter in weight (40 percent of steel cylinder weight), and are corrosion and rust proof. These LiteSafe cylinders are successfully in operation in India for over 2 years with a leading LPG distribution company in private sector and also exported to over 17 countries worldwide. Time Technoplast is in the process of finalising order for some large quantities from overseas which will easily fill in its entire capacity,” said the company.
Total population of steel cylinders worldwide is 2.5 billion for LPG distribution and about 90 million cylinders are brought every year for replacement and additional roll outs. Present share of composite cylinder is around 2 percent which is expected to go up to 10-12 percent by year 2020. Time Technoplast will be one of the biggest beneficiary of growing acceptance of composite cylinders owing to numerous operational and technical advantages over steel cylinders, claims the company.