France-based Air Liquide is planning to invest Rs 10,000-12,000 crore in the country through its India arm Air Liquide India (AL India) over the next 10 years.
“India is the main place for us to increase our business,” said Philippe Roujon, managing director of AL India. He said the company had lined up major investment plans as steel plants, petrochemical units and refineries, which were the major customers of industrial gases, were expanding their capacities. This apart, new ones are also coming up.
The company produces oxygen, nitrogen, hydrogen, helium and other rare gases. Its India arm began operations in 1992.
“From next year onwards, every year we will invest Rs 1,000-1,200 crore in the country over the next 10 years,” Roujon said.
AL India registered a turnover of Rs 600 crore in 2009 and is targeting Rs 900 crore in the current calendar year, he told mediapersons here.
The company is investing Rs 420 (70 million euros) in the Visakhapatnam Steel Plant for setting up an 1,800 tonne per day capacity air separation unit to produce different gases, which can be used in liquid steel making. VSP has signed a long term agreement with AL India to purchase these gases for 18 years, he said.
Similarly, in Pune AL India is setting up a 200-tonne per day capacity air separation unit to produce the industrial gases with an investment of Rs 180 crore.
The two units will be ready by 2012 end, he said.