An Air Products’ joint venture in India is among the industrial gas companies struggling to meet the demand for oxygen in that country as it grapples with a major coronavirus pandemic crisis.
INOX Air Products announces Indias largest Greenfield investment in the Industrial Gases Sector of INR 2000 Cr
MUMBAI, India, Feb 22, 2021 /PRNewswire/ Supporting the Nation s revival journey through massive investments in core sectors like Manufacturing and Infrastructure as announced in Budget 2021, India s largest manufacturer of Industrial & Medical Gases, INOX Air Products (INOXAP) has laid out massive expansion plans of INR 2000 Crores to build eight new Air Separation Units 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 1500 Tons Per Day (TPD) of Liquid Gases, the expansion will take INOXAP s total liquid gases production to 4800 TPD by 2024.
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.