INOXCVA South America will invest R$ 60 million in Monte Mor with the support from Investe SP
New unit of the Indian multinational that operates in the sector of industrial gases and oil and gas will generate 150 direct jobs in the region of the city of Campinas
The Indian company INOXCVA South America will build, with the assistance of Investe São Paulo, a new plant in the city of Monte Mor, 122 Km away from the state capital. It will produce equipment for storing, distributing and vaporize cryogenic gases, such as liquefied natural gas (LNG), oxygen, nitrogen, argon and CO2 in liquid form. The unit will also sell equipment for “fracking”, produced at INOXCVA in Houston, which are used in unconventional exploitation of oil and gas.
“It is the first international manufacturer of cryogenic equipment to start operations in Brazil,” said the president of INOXCVA South America, Joseph Farach. With an investment of R$ 60 million, the company expects to generate approximately 150 direct jobs and 450 indirect jobs.
“The State of São Paulo has the largest supply chain of oil and gas in Brazil. The settlement of INOXCVA in Monte Mor shows that the region of Campinas also has the potential to attract companies in this sector, which is constantly growing due to the pre-salt of Santos Basin,” says the president of Investe SP, Luciano Almeida.
Investe SP has been supporting the company since April 2011, by providing information that helped INOXCVA to decide to install a new plant in the state of São Paulo. In January this year, the company inaugurated a service center for the maintenance and repair of equipment in Indaiatuba, where it has initially invested R$ 2 million in machinery.
According to Farach, São Paulo has proper infrastructure and manpower, besides being home to most of its clients. “Investe SP was crucial in providing information on how the entire process of setting up a company in Brazil works and it will help us to contact government agencies and public utilities,” says the executive.
For Almeida, supporting companies in the oil and gas sector to start producing in the country helps to increase the percentage of local content in the products of suppliers in this sector.
From Monte Mor to South America
Easy access to major highways in the country, allowing the company to easily transport its products to ports and international airports and proximity to suppliers. These were the key aspects that led INOXCVA to settle in Monte Mor.
The new plant will cover an area of 84 thousand square meters and should start production in the second half of 2013. The products manufactured by INOXCVA in Monte Mor will be intended to supply the demand of companies in the sector of industrial gases and oil and gas in Brazil and South America.
About INOXCVA South America
INOXCVA South America is a subsidiary of the Inox Group, which is headquartered in Mumbai, India. With over 100 production and business units and approximately 8,000 employees, the company is a world leader in the manufacture of transport and cryogenic distribution equipment and has plants in the United States, Canada, India and China. Its products are used in more than 100 countries. The group also manufactures equipment for “onshore” and “offshore” oilfields. To learn more, please visit http://www.inoxcva.com/ or send us an e-mail [email protected]