China push dumped as India becomes profitable for cylinder maker Everest Kanto - News Summed Up

China push dumped as India becomes profitable for cylinder maker Everest Kanto


Expanding use of natural gas use in vehicles will boost demand for cylinders. Photo: HTMumbai/New Delhi: India’s biggest maker of compressed natural gas cylinders plans to sell its China operations to cut debt and expand faster in the domestic market, prompted by Prime Minister Narendra Modi’s fight against use of dirty fuels from kitchens to city transport. “India business will be the driver of our growth,” Everest Kanto’s chief executive officer Puneet Khurana said in an interview. Everest Kanto’s three plants in western India are running at 60% capacity and the company can ramp up production to meet rising demand. “We are focusing more on consolidating our India business over our overseas operations, making it more profitable and reducing debt,” Khurana said.


Source: Mint December 07, 2017 08:03 UTC


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