Chart Industries has recently expanded its LNG presence in China through an additional investment of US$ 350 million in Changzhou National Hi-Tech District, a manufacturing zone in eastern China’s Jiangsu Province.
Chart Industries is a worldwide leader in the manufacture of cryogenic equipment. Chart Cryogenic Engineering Systems (Changzhou), which first invested in Changzhou National Hi-Tech District in 2005, has shown good results, with sales of 1180 million yuan in 2013.
Commenting on the expansion, a company head said: "The government agencies in Changzhou National Hi-Tech District have been very helpful. All of their employees treat our people warmly and sincerely while not compromising any principles, aiding us in resolving the many issues we have faced along the way. This has given us confidence that we made the right decision by investing here."
LNG storage tanks
Chart’s investment of US$ 350 million will be used to manufacture large LNG storage tanks. Approximately US$ 210 million will be allocated to the first phase of the project to ensure targets are met.
Adapted from press release by Katie Woodward
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