producer Inox Air Products
Ltd, a joint venture between the US-based $7.5-billion Air Products
Inc and the Jain family (promoters of the Inox
Group), will invest $ 100 million (about Rs 645 crore) to build six new air separation units
(ASUs) in India. Air separation unit – a manufacturing plant used to produce industrial gases
- separates atmospheric air into its primary components, typically nitrogen and oxygen, and sometimes also argon and other rare inert gases.
“We are very pleased to be able to announce these investments, totalling over $100 million. We are proud to be able to play our part in making Make in India a reality, as efficient and reliable supplies of industrial gases
are a key enabler for manufacturing,” stated Richard Boocock, president - Air Products
Industrial Gases, Middle East, India, Egypt and Turkey.
The six proposed plants, which will serve the growing onsite and merchant liquid industrial gases
market in the country, are scheduled to come onstream during the course of 2018 and 2019.
“The investment in this capacity will bring much needed product into the Indian market. As one of the fastest growing economies in the world, we continue to invest in these projects to ensure that we are in the best position to support the continued growth of the India Economy in general, and the manufacturing industry in particular. The positioning of this capacity in key industrial regions will enable us to serve our customers with market leading efficiency and reliability,” said Siddarth Jain, director, Inox Air Products.
By building these six new plants, Inox Air Products
aims to further strengthen its position in the merchant industrial gases
market in India. The plants will have a combined capacity of over 1,200 metric tonnes per day of liquid product and will serve a variety of regional markets and industry segments across India such as iron & steel making, glass manufacturing and pharmaceuticals.
Headquartered in Mumbai, Inox
Air Products, through its more than 35 operating locations spread across India, manufactures and supplies industrial gases
including oxygen, nitrogen, helium, carbon dioxide, hydrogen, and speciality gas mixtures. The company specialises in providing products, technologies and services to a vast cross-section of industries such as chemicals, pharmaceutical, metals, steel, food, wastewater treatment, cement, glass, textiles, paint, medical, pulp & paper, etc. All activities of Air Products
in India are channelled through Inox Air Products.
Air Products, with global sales of $ 7.5 billion in 2016, is one of the leading industrial gases
companies in the world. The company’s core industrial gases
business provides atmospheric & process gases and related equipment to manufacturing markets, including refining & petrochemical, metals, electronics, and food & beverage. It is also the world’s leading supplier of liquefied natural gas process technology and equipment.