INOX Air Products to build eight new ASUs in India
By Mary Page Bailey |
February 22, 2021
INOX Air Products (INOXAP), Air Products’ India joint venture company, has laid out massive expansion plans of INR 2000 Crores to build eight new Air Separation Units (ASUs) across the country. This will be India’s largest Greenfield investment plan ever witnessed in the Industrial Gases sector. With a combined capacity to manufacture more than 1,500 tons per day of liquid gases, the expansion will take INOXAP’s total liquid gases production to 4800 TPD by 2024. Inspired by the Prime Minister’s vision of
Make In India, INOXAP’s new plants will strengthen and promote inclusive growth in the existing and upcoming industrial corridors across the country. Complementing the critical boost provided in Budget 2021 to the Healthcare sector, INOXAP’s expansion would also augment its Liquid Medical Oxygen (LMO) production capacity by 50%.
The country’s largest manufacturer of industrial and medical gases, Inox Air Products, will invest ₹2,000 crore to build eight new air separation units across the country. This will be India’s largest
India’s largest manufacturer of industrial and medical gases, INOX Air Products (INOXAP) plans to invest Rs 2,000 crore to build 8 new air separation units across the country. This will be India’s largest greenfield investment plan in the industrial gases sector. This follows a manifold increase in demand for medical oxygen because of the Covid-19 pandemic though the company says it is looking ahead at the government s push for the manufacturing and infrastructure sector. With a combined capacity to make more than 1500 tonne a day (TPD) of liquid gases, the expansion will take INOXAP’s total liquid gases production to 4800 TPD by 2024. The investment would be funded by a mix of debt and internal cash accruals. The debt portion is yet to be worked out but it could be 40 per cent of the investment, Siddharth Jain, director - INOX Air Products, told Business Standard.
Categories such as personal care, beauty and wellness as well as FMCG & Healthcare saw massive gains recording a volume grow by 95 per cent and 46 per cent year-on-year respectively
E-commerce grows by 36 per cent in last quarter in India: Report
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Last Updated: Feb 10, 2021, 12:15 PM IST
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Synopsis
In October to December 2020 period, PCB&W and FMCG & Healthcare (F&H) categories volumes grew by 95 per cent and 46 per cent year-on-year (YOY) respectively, said the Q4- 2020 -E-commerce Trends Report , released by Unicommerce and Kearney.
Agencies Tier II and Tier III+ markets have shown maximum growth potential, outpacing that of Tier I cities.
BENGALURU: The last quarter of 2020 saw e-commerce order volume growing by 36 per cent in India with Personal care, Beauty and Wellness (PCB&W) segment being the biggest beneficiary, according to a report.