Corporate News
- Total investment of EUR 80 million
- Long-term on-site supply contract
- Expansion of market leadership in India
Munich, 16 July 2012 – Technology company The Linde Group will be constructing two major air separation units at the Kalinganagar industrial complex in Odisha, India, for one of the world's largest steel manufacturers, Tata Steel Limited. Linde will be investing EUR 80 million in this project. The two companies recently signed an agreement to this effect. The air separation units are part of a long-term, on-site gases supply contract for a new integrated steelworks that Tata is currently building in Kalinganagar.
"We are delighted to have the opportunity to continue our long-term partnership with Tata Steel through this project," explains Sanjiv Lamba, Member of the Executive Board of Linde AG responsible for Asia. "This investment enables us to strengthen our position as the leading gases provider in the fast-growing Indian market. Our aim is to remain part of the Kalinganagar industrial complex expansion story as it evolves into an important steel hub," he continues.
Each of the two new air separation plants will be capable of producing 1,200 tonnes of air gases per day. Once they go on stream in 2014, the units will supply gaseous oxygen, nitrogen and argon to the steelworks that Tata Steel is currently building. They will also produce liquid gases for the regional market. In a further step, Linde intends to lay an extensive network of pipelines at the Kalinganagar industrial complex in order to supply other steel producers with industrial gases in the future.
Tata's new blast furnace based steel plant is also set to go on stream in 2014. It will initially produce three million tonnes of steel per year. The company aims to increase capacity in the medium term to 12 million tonnes per year. The new steelworks is the first production facility of its kind to be built in India in 15 years.
About The Linde Group
The Linde Group is a world-leading gases and engineering company with around 50,500 employees in more than 100 countries worldwide. In the 2011 financial year, it achieved sales of EUR 13.787 bn. The strategy of The Linde Group is geared towards long-term profitable growth and focuses on the expansion of its international business with forward-looking products and services. Linde acts responsibly towards its shareholders, business partners, employees, society and the environment – in every one of its business areas, regions and locations across the globe. The Group is committed to technologies and products that unite the goals of customer value and sustainable development.
For more information, see The Linde Group online at http://www.linde.com
Further information:
Media Stefan Metz |
Investor Relations Lisa Tilmann |