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BOC India eyes petroleum, petrochemicals sectors

Press Trust Of India  |  Kolkata 

Industrial gases major BOC India, a part of the Linde group, is eyeing the petroleum and petrochemicals sectors for growth.

"We are talking to all the oil for setting up air separation units (ASUs) for their need," managing director S Menon told reporters after the company's 75th AGM here today.

He said that the company was making investments of Rs 1,200 crore for setting up ASUs for Tata Steel, and Jindal Stainless.

Two plants were getting ready for commissioning by late 2012, he said.

With the steel sector contributing more than 50 per cent of the total business, the other areas targeted by were glass, pharmaceuticals, manufacturing industry and solar photovoltaic cells.

He said the company was also in talks with JSW Bengal Steel for its proposed steel plant at Salboni, in West Bengal.

Linde AG of Germany bought out BOC Group Plc of UK, following which the former's stakeholding in stood at 89.48 per cent.

Company secretary said since regulation required either to delist or dilute up to 75 per cent in the company, it was probable that the parent company would opt for the second route.

First Published: Fri, June 03 2011. 00:58 IST