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Global industrial gases producer, Air Products, will invest over $100 million in India for setting up six new liquid oxygen and nitrogen production facilities catering to manufacturing industries.
The investment will be done through its Indian joint venture INOX Air Products, formerly known as Industrial Oxygen Company.
The new plants are currently at various stages of implementation and will be completed by the end of 2019 calendar year, Richard Boocock, President, Industrial Gases–Middle East, India, Egypt and Turkey, at Air Products, told BusinessLine .
The new facilities will be built in Chakan, Pune; Durgapur, West Bengal; Sriperumbudur, Tamil Nadu; Simej, Gujrat; Modinagar, UP; and Kanjikode, Kerala. Having a combined capacity of over 1,200 metric tonnes per day of liquid product, these plants will serve a variety of industry segments, including car manufacturing, iron and steel making and pharmaceuticals.
In 2017, Air Products set up an industrial gases plant within the Integrated Refinery Expansion Project (IREP) of the Bharat Petroleum Corporation Ltd (BPCL)’s Kochi Refinery with an investment of $400 million.
The company has recently signed a new long-term agreement with BPCL for the second phase of the project under which it will build, own and operate a new syngas production facility at the same site, Boocock said.
The new facility will be completed within 12 to 18 months and will cater to BPCL’s new propylene derivatives petrochemical project.
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