SOURCE: Linde AG

May 08, 2008 03:53 ET

The Linde Group and ADNOC to build two large-scale air separation units in Abu Dhabi (United Arab Emirates) - Total investment costs around USD 800 million

MUNICH, GERMANY--(Marketwire - May 8, 2008) - The technology company The Linde Group and The Abu Dhabi National Oil Company (ADNOC) have decided to construct two large air separation units (ASU) through their joint venture Elixier in Abu Dhabi (United Arab Emirates). Total investment costs amount to approximately USD 800 million.

Starting at the end of 2010, the new plants will be connected to the utility and pipeline network and will supply nitrogen for injection into the onshore condensate field in Habshan in the Emirate of Abu Dhabi to free natural gas for the national grid. The two ASUs will have a total nitrogen capacity of 670,000 standard cubic metres per hour.

"By using our expertise to increase the efficiency of fuel production at the Gulf, Linde makes another important contribution to the solution of the energy dilemma", said Dr Aldo Belloni, member of the Executive Board of Linde AG. "With this project, our presence in the Middle East gets a significant boost in quality and size, so that we remain the leading gases and engineering company in this thriving market."

State-owned oil company ADNOC owns 51 percent and Linde 49 percent of the shares in the Elixier joint venture (legal name ADNOC Linde Industrial Gases Company Ltd.), which was founded in December 2007. ADNOC manages the onshore and offshore oil, gas and petrochemical business in the Emirate of Abu Dhabi in the United Arab Emirates.

The Linde Group is a world leading gases and engineering company with more than 50,000 employees working in around 100 countries worldwide. In the 2007 financial year it achieved sales of EUR 12.3 billion. The strategy of The Linde Group is geared towards earnings-based and sustainable 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, see The Linde Group web site at www.linde.com

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