Air Products Indian ventured company INOX Air Products Ltd is going invest over $50 million (Rs 250 crores) to construct two new ASUs (Air Separation Unit) for the emerging merchant gases market in Western & Southern India. The new announcement came as INOX Air Products’ is about to sign industrial gas supply contract with Posco Maharashtra Steel Private Limited (PMSPL) for upcoming hydrogen and nitrogen expansion plant in Maharashtra.
Press Release (PRwire)
“These two important projects are a substantial next step in our efforts to extend our leadership position in the merchant industrial gases market in India. We continue to invest in these projects to ensure that we are in the best position to supply our customers with reliable, high quality and cost effective solutions for their industrial gas needs,” said Pavan K. Jain, managing director of INOX Air Products. “Our repeat win at Posco is clear evidence that we are consistently delivering value for our customers.” INOX Air Products will build the second ASU for the merchant industrial gas market in Maharashtra. For over three decades, INOX Air Products has repeatedly shown its commitment to this region with significant investments in production facilities at five locations across Maharashtra. “INOX Air Products’ investments are widely acknowledged to have provided unparalleled reliability of industrial gases supply to the diverse customer base in the region. What makes the investments even more enriching is the carry forward of the relationship, as most industries in Maharashtra have expanded to other regions and INOX Air Products has supplied them there as well,” said Jain. (Courtesy: PR Wire/Air Products)
It is expected that INOX Air Products facilities are scheduled to start working between late 2012 and early 2013. Apart from this new ASU making, INOX Air Products will also construct same at Andhra Pradesh to serve the liquid oxygen & nitrogen demands in the region of Southern India. Company embarks a key step towards growing the markets in the Southern India after setting base at Eastern & Western regions. INOX Air Products new ASU located quite closer to principal market in Andhra Pradesh where customers will get improved quality of gases supply.
INOX Air Products has dual advantage of PRISM® line AP technology of gas generation systems supply nitrogen, oxygen and hydrogen to more than 1,500 customers in over 30 countries worldwide. Globally AP using this new technology in several markets including glass, steel, electronics and semiconductors, non-ferrous metals, metals processing, chemicals, food processing and packaging, and energy production and processing. INOX Air Products is also one of the largest manufacturers of industrial gases in India with 36 plants spread throughout the country with over 1,200 employees.
Image Source: INOX AP Official Website