INOX Air Products announced plans for a massive expansion in its capacities by adding four air separation units (ASU) and liquefiers for the merchant market across India with an investment of more than Rs 600 Cr. All the four new plants are scheduled to come on stream during 2012 and will enhance INOX Air Products merchant capacity by about 60%.
“We are market leaders in merchant industrial gases and this committed investment aligns our supply chain with the consistently growing demand for industrial gases which is being fuelled by the robust expansion in India’s manufacturing sector” said Siddharth Jain, Director, INOX Air Products. “The investments will further strengthen INOX Air Products’ substantial presence throughout India, augment our supply capabilities, enhance our customer focus and reinforce our leadership position.”
These four ASU and liquefier merchant plants that INOX Air products will build to produce liquid oxygen, liquid nitrogen and liquid argon, are strategically located in proximity of high demand growth areas and spread across four states viz. Himachal Pradesh, Gujarat, Puducherry, and Rajasthan.
INOX Air Products also marked its entry into the glass industry by inking a contract for long term supply of nitrogen and hydrogen gases with Saint Gobain Glass India (SGGI) for their upcoming float glass plant in Rajasthan, which is slated to be one of the largest in the world.
“A customer-focused approach was essential in gaining our business. Reliable supply is very important to our project and we believe INOX Air Products’ industrial gas expertise will deliver on our industrial gas needs,” said Mr S.N. Eisenhower, Director - Operations at Saint Gobain Glass India.
Over and above these four new facilities, INOX Air Products’ market presence in India continues to grow. Earlier this year, the JV announced a long-term contract with POSCO Maharashtra Steel Private Limited (PMSPL) to supply on-site nitrogen and hydrogen gases to its new facility in Vile Bhagad, Maharashtra, in western India. PMSPL is a subsidiary of POSCO, the world’s fourth largest steel producer by output. The plants are expected to come on stream in late 2011.
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“The demand for world-class industrial & medical gases solutions from the manufacturing & healthcare sectors has grown over the years and INOXAP is the name that customers trust for safe, reliable, economical and sustainable solutions” said Mr Pankaj Chaturvedi, Head – Marketing and Business Development. “These new investments will allow us to serve both new customers and current customers expanding their activities in these regions.”
About INOX Air Products Ltd.
INOX Air Products Limited is a joint venture company in which the Jain family (Promoters of the INOX Group) and Air Products hold an equal stake. Headquartered in Mumbai, INOX Air Products is one of the largest manufacturers of industrial gases in India with 36 plants spread throughout the country with a workforce of approximately 1,200. INOX Air Products Ltd. manufactures and supplies industrial gases including oxygen, nitrogen, helium, argon, carbon dioxide, hydrogen, and specialty gas mixtures throughout India.
More information can be found at: www.inoxairproducts.com.
About Air Products
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. In fiscal 2010, Air Products had revenues of $9 billion, operations in over 40 countries, and 18,300 employees around the globe. For more information, visit www.airproducts.com