The Linde Group to invest in largest air separation plant in India
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ * EUR 85 million investment is part of a long-term gas supply contract with Tata Steel* Contract includes acquisition of Tata's captive air separation plants in JamshedpurMunich, 27 October 2009 - The technology group The Linde Group todayannounced it will build and commission a state-of-the-art 2,550tonnes per day (tpd) air separation unit (ASU) at Tata Steel Ltd'splant in Jamshedpur, India. Tata Steel is one of the world's leadingsteelmakers. Once commissioned in early 2012, this will be thelargest air separation plant in India and one of Linde's largest inAsia. The investment for the new ASU amounts to nearly EUR 85million, bringing Linde's total investment in India over the lastthree years to approximately EUR 285 million.The announcement follows The Linde Group's signing of a long-termcontract with Tata Steel for the supply of over 4,000 tpd of gaseousoxygen, nitrogen and argon. The new ASU will cater to Tata Steel'scurrent expansion of its world-class steel making facility inJamshedpur. The expansion will increase the plant's steel makingcapacity to 10 million tonnes a year. As part of the agreement, Lindewill also acquire and operate three existing ASUs owned by Tata Steelfor the supply of gases to their Jamshedpur works."This investment, which further deepens our solid relationship withTata, is an example of our strong commitment to India," said Dr AldoBelloni, member of the Executive Board of Linde AG. "Our group memberBOC has been operating in India for nearly 75 years. The importanceof the Indian market is also reflected in our rapidly growingengineering capability in Baroda and Kolkata. Our comprehensiveengineering solutions put us in a good position to meet the growingneeds of steel makers, refineries and petrochemical plants in India."Commenting on the occasion, H M Nerurkar, Managing Director of TataSteel Ltd said, "Linde is one of the world's largest gas companies,with cutting-edge technical expertise and experience in designing andoperating air separation plants. This, combined with their solidoperational capabilities locally makes them a strong partner for Tatafor our world class steel works in Jamshedpur."In addition to meeting Tata Steel's gases requirements, the new plantwill also produce liquid products to meet the growth in merchantmarkets throughout India. Linde is the leading provider of bulk andcylinder gases in India to a variety of industries and is currentlyin the process of commissioning a new air separation plant nearDehradun in North India. The plant is expected to commence suppliesof liquid and cylinder gases to customers by the first quarter of2010. In addition, Linde is also investing in a new merchant airseparation plant in Maharashtra that will produce nearly 500 tpd ofliquid products to meet the growing demands of industry in thewestern region of the country.The Linde Group currently has gas supply contracts with Tata Steelacross the world meeting their gas requirements not only in India,but also in the UK and Holland. In India, Linde has a long-standingrelationship with Tata Steel that spans over five decades. Itcurrently operates two existing air separation plants supplyingalmost 1,500 tpd of oxygen, nitrogen and argon gases to Tata's steelmaking operations at Jamshedpur.The Linde Group is a world leading gases and engineering company withalmost 50,000 employees working in around 100 countries worldwide. Inthe 2008 financial year it achieved sales of 12.7 billion euro. Thestrategy of The Linde Group is geared towards sustainableearnings-based growth and focuses on the expansion of itsinternational 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 businessareas, regions and locations across the globe. Linde is committed totechnologies and products that unite the goals of customer value andsustainable development.For more information, please see The Linde Group online athttp://www.linde.comFor additional information:Press Investor RelationsUwe Wolfinger Thomas EisenlohrTelephone: +49.89.35757-1320 Telephone: +49.89.35757-1330http://hugin.info/125064/R/1350300/325792.pdf --- End of Message ---Linde AGKlosterhofstrasse 1 Munich GermanyWKN: 648300; ISIN: DE0006483001; Index: CDAX, DAX, HDAX, Prime All Share;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Niedersächsische Börse zu Hannover, Regulierter Markt in Bayerische Börse München, Regulierter Markt in Börse Berlin, Regulierter Markt in Börse Düsseldorf, Regulierter Markt in Börse Stuttgart, Regulierter Markt in Frankfurter Wertpapierbörse, Regulierter Markt in Hanseatische Wertpapierbörse zu Hamburg;
Datum: 27.10.2009 - 12:02 Uhr
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