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Air Liquide to pump Rs 300 crore into India
Published on 5 Oct. 2008 12:45 AM IST
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Malaysia-based Air Liquide, manufacturer of industrial and medical gases, will invest around Rs 300 crore in India to set up an air separation unit (ASU), which is expected to commission by July 2009. The unit will manufacture 850 tonne per day of oxygen, along with liquid oxygen, nitrogen and argon. The produce from the plant will primarily be sold to IndianOil (IOC) for its upcoming naphtha cracker facility at Panipat near New Delhi. IOC is currently building a 3 million metric tonne per annum (mmtpa) naphtha cracker complex adjacent to its existing 12 mmtpa refinery at Panipat. The complex is expected to be operational by 2010. According to the Air Liquide release, IOC has already outsourced the requirement of oxygen and nitrogen to the company under a long-term contract. However, IOC officials did not divulge any information. Air Liquide said the products will also be sold to other industrial merchant players in northern India. Air Liquide has been present in India since 1996, and has two main divisions - engineering and gas.

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