Company to invest Rs 4500 crore in next five years
Matheson K-Air India Private Limited (MKI) is planning to set up an air separation plant in Chakan near Pune. The company is investing around Rs 110 crore in this facility. The capacity of this plant will be 200 tonne per day and the ASU is expected to be fully operational by December 2012. The ASU will produce liquid oxygen, liquid nitrogen and liquid argon for delivery to end user customers and distributors located primarily within a 300 kilometer radius of the facility.
The new plant will be MKI's first (air separation plant) ASU in India and the first in a network of ASU's that MKI has planned for the Indian market. MKI plans to invest in excess of Rs 4500 crore over the next five years in an effort to expand its business and serve the growing demand for industrial gases throughout India. In addition to installing a network of ASU's, MKI intends to strengthen its gases distribution capability by building new industrial gas fill plants and distribution centers in key Indian markets.
Kiran Karnawat, Managing Director of MKI, stated, "The Pune ASU will improve the availability and reliability of gas supply that MKI will be able to offer our customers and make us much more competitive. Installation of our first ASU is an important step for MKI that will enable us to become a fully integrated gases supplier to the Indian market."
He added that the company will further expand its business in setting up an R& D centre and another plant in north India. Also, in future the company will focus its business in the areas like healthcare and automobile. According to Phil Kornbluth, Executive Vice President, International & Helium for MKI partner Matheson, "Matheson plans to significantly expand our presence in the rapidly growing Indian market for industrial gases. The Pune ASU is one of the first in a series of projects that MKI will be announcing in the coming months."
Matheson K-Air India is a joint venture between Matheson Tri-Gas, Inc., an American corporation, and K-Air India Private Limited, an Indian corporation that was established in March 2010. MKI, headquartered in Pune, is a leading Indian supplier of packaged gases, helium and bulk gases.