October 27, 2009 07:09 ET
The Linde Group to invest in largest air separation plant in India
MUNICH, GERMANY--(Marketwire - October 27, 2009) -
* EUR 85 million investment is part of a long-term gas
supply contract with Tata Steel
* Contract includes acquisition of Tata's captive air
separation plants in Jamshedpur
Munich, 27 October 2009 - The technology group The Linde Group today
announced it will build and commission a state-of-the-art 2,550
tonnes per day (tpd) air separation unit (ASU) at Tata Steel Ltd's
plant in Jamshedpur, India. Tata Steel is one of the world's leading
steelmakers. Once commissioned in early 2012, this will be the
largest air separation plant in India and one of Linde's largest in
Asia. The investment for the new ASU amounts to nearly EUR 85
million, bringing Linde's total investment in India over the last
three years to approximately EUR 285 million.
The announcement follows The Linde Group's signing of a long-term
contract with Tata Steel for the supply of over 4,000 tpd of gaseous
oxygen, nitrogen and argon. The new ASU will cater to Tata Steel's
current expansion of its world-class steel making facility in
Jamshedpur. The expansion will increase the plant's steel making
capacity to 10 million tonnes a year. As part of the agreement, Linde
will also acquire and operate three existing ASUs owned by Tata Steel
for the supply of gases to their Jamshedpur works.
"This investment, which further deepens our solid relationship with
Tata, is an example of our strong commitment to India," said Dr Aldo
Belloni, member of the Executive Board of Linde AG. "Our group member
BOC has been operating in India for nearly 75 years. The importance
of the Indian market is also reflected in our rapidly growing
engineering capability in Baroda and Kolkata. Our comprehensive
engineering solutions put us in a good position to meet the growing
needs of steel makers, refineries and petrochemical plants in India."
Commenting on the occasion, H M Nerurkar, Managing Director of Tata
Steel Ltd said, "Linde is one of the world's largest gas companies,
with cutting-edge technical expertise and experience in designing and
operating air separation plants. This, combined with their solid
operational capabilities locally makes them a strong partner for Tata
for our world class steel works in Jamshedpur."
In addition to meeting Tata Steel's gases requirements, the new plant
will also produce liquid products to meet the growth in merchant
markets throughout India. Linde is the leading provider of bulk and
cylinder gases in India to a variety of industries and is currently
in the process of commissioning a new air separation plant near
Dehradun in North India. The plant is expected to commence supplies
of liquid and cylinder gases to customers by the first quarter of
2010. In addition, Linde is also investing in a new merchant air
separation plant in Maharashtra that will produce nearly 500 tpd of
liquid products to meet the growing demands of industry in the
western region of the country.
The Linde Group currently has gas supply contracts with Tata Steel
across the world meeting their gas requirements not only in India,
but also in the UK and Holland. In India, Linde has a long-standing
relationship with Tata Steel that spans over five decades. It
currently operates two existing air separation plants supplying
almost 1,500 tpd of oxygen, nitrogen and argon gases to Tata's steel
making operations at Jamshedpur.
The Linde Group is a world leading gases and engineering company with
almost 50,000 employees working in around 100 countries worldwide. In
the 2008 financial year it achieved sales of 12.7 billion euro. The
strategy of The Linde Group is geared towards sustainable
earnings-based growth and focuses on the expansion of its
international business with forward-looking products and services.
Linde acts responsibly towards its shareholders, business partners,
employees, society and the environment - in every one of its business
areas, regions and locations across the globe. Linde is committed to
technologies and products that unite the goals of customer value and
sustainable development.
For more information, please see The Linde Group online at
http://www.linde.com
For additional information:
Press Investor Relations
Uwe Wolfinger Thomas Eisenlohr
Telephone: +49.89.35757-1320 Telephone: +49.89.35757-1330
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