A rendering of the LNG cryogenic equipment industrial center of Zhangjiagang CIMC Sanctum Cryogenic Equipment Co [Photo/WeChat account: zjgcitynews]

Construction on a liquefied natural gas (LNG) cryogenic equipment industrial center started on Dec 18 in Zhangjiagang, East China’s Jiangsu province.

The project received $239 million in investment from Zhangjiagang CIMC Sanctum Cryogenic Equipment Co and will cover an area of 275 mu (18.34 hectares).

Construction will be divided into three phrases. The first will be the construction of a production line with an annual capacity of 80,000 LNG cylinders, the second will be the construction of a comprehensive factory, and the third will be the construction of a mixed production line for producing mainly LNG tank containers.

The entire center is expected to begin operating in January 2023 with an annual sales revenue of around 5 billion yuan ($714.5 million).

It will be one of the world’s largest LNG cryogenic equipment industrial centers when operating at full capacity, and its liquid helium tank factory will be the first of its kind in China.

The center is expected to increase Zhangjiagang CIMC Sanctum Cryogenic Equipment Co’s market share in LNG tanks for vehicles to 30 percent and CIMC Enric’s (its parent company) market share in LNG tanks to 60 percent.