Composer time out error

Params:
php5.3

Problem:
Error while installing dependencies. Command:
> php composer.phar install
returned the error:
[Composer\Downloader\TransportException]
......... file could not be downloaded: failed to open stream: Connection timed out

Solution:
Set higher timeout for composer, run command:
> COMPOSER_PROCESS_TIMEOUT=1000 php composer.phar install
If you get error again try to set higher timeout. For example 3000 against 1000.