Air Products’ India joint venture company- INOX Air Products (INOXAP) announced plans to invest $275 million (INR 2000 Crores) and construct eight new Air Separation Units (ASUs) across India. The plants will produce liquid oxygen, liquid nitrogen, and liquid argon. The construction period is estimated to be between 2022 and 2024.
Strong demand for the industrial gases market in India and worldwide is encouraging companies to expand their infrastructure.
According to INOXAP, it has a capacity of 1,500 tons per day of liquid gases and upon successful accomplishment of the expansion project by 2024, the company’s total liquid gas production capacity will increase to 4800 tons per day.
The plants will be built in potential growth markets including Gujarat, Maharashtra, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Andhra Pradesh, and West Bengal.