 "Time Technoplast to increase production of composite cylinders for LPG")
Time Technoplast, one of India’s leading polymer-based product manufacturers, is planning to increase the production of composite cylinders for LPG, marketed under LiteSafe brand, citing overwhelming response from the end-users.
“The company is in advanced stage of capacity expansion from 700,000 per annum to 1,400,000 per annum cylinders to meet projected demand particularly from OMCs (oil marketing companies) and private players in India,” said the company officials. Petroleum And Explosives Safety Organization (formerly CCOE) has already approved LiteSafe composite cylinders of 2 kg, 5 kg, 7 kg, 10 kg & 15 kg capacity for LPG distribution in India.
In India, Time Technoplast had first sold few thousand cylinders to Reliance Gas some three years ago which had been successfully operating in Gujarat. Last week, Reliance Gas for the first time launched LPG in composite cylinders of 10 kg and 5 kg capacity in Pune (Maharashtra) for which it procured additional quantities of cylinders from Time Technoplast.
In addition to Reliance, oil marketing companies have bought several thousand cylinders in 2 kg, 5 kg, 7 kg, 10 kg and 15 kg denominations for LPG distribution in Gujarat and Maharashtra on trial basis.
“Encouraged by response to the company’s LiteSafe by the end user, several other private LPG distributors have initiated procurement of the product for country wide offering of LPG in composite cylinders,” said the Time Technoplast in a press release.
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 wants to tap the opportunity opened up due to the growing acceptance of composite cylinders, which has numerous operational and technical advantages over steel cylinders, in the country.
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