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Air products company invests in the construction of air separation plant in India
2017-04-261145
According to the latest news, inox Air Products Co., Ltd., a joint venture of air chemical products company in India, announced that it plans to build six new air separation units on the basis of an investment of US $100 million, which will serve the country's growing field and commercial liquid industrial gas market.
It is reported that these devices will produce more than 1200 tons of liquid products per day, which will serve the steel, glass and pharmaceutical industries in India. The six new equipment will be put into production in 2018 and 2019. The construction of the new plant will continue the growth of inox air products in India's industrial gas market and further strengthen its established leadership in India's commercial and industrial gas market.
Gas separation
The investment aims to strengthen the leadership of inox air products in India's commercial industrial gas market.
It is reported that air products currently have about 17% market share. India's market is expected to grow strongly driven by the whole industry, with an average GDP growth rate of 8.4% since 2005. The market share of India's gas business is likely to change significantly in the next few years, mainly due to the substantial investment of inox air products, which will create new sources of revenue. In addition, if the acquisition of praxis Linde is completed, there may be an attractive spin off package at home.
Is India's new industrial gas industry really taking off?
India has always been a darling of optimistic growth forecasts, making it one of the emerging economies in the years to come. Some leading gas and equipment manufacturers have positioned themselves for this intense wave of growth, investing in gas production plants and filter equipment manufacturing sites.
However, air products recently announced plans to build six new air filtration units in India by 2018 / 19, when the trend seemed to be turning around the country. In just a few days, the International Monetary Fund (IMF) has published its "world economic outlook" (WEO) in April 2017, which points out that even in the face of economic setbacks in 2016, India does not have to worry about losing the rapid growth of the world economy.
Is this the time when India really started industrial gas?
In the range of 2016-2020, the average annual growth rate is 8.6-11.2% under the condition of low risk. In the high case, it leads to a market worth as much as $2.2 billion.
Linde India confirmed last year that it will establish an ASU in Andhra Pradesh, according to another Linde plant, laboratory and college,
About inox air products
Inox air products, headquartered in Mumbai, is a joint venture of air products in India. The company has 35 locations and 1200 employees in India.
Inox Air Products Ltd produces and supplies industrial gases in India, including mixtures of oxygen, nitrogen, helium, carbon dioxide, hydrogen and specialty gases. The company specializes in providing products, technologies and services to a wide range of industries including chemical, pharmaceutical, metal, steel, food, wastewater treatment, cement, glass, textile, paint, medicine, papermaking, etc. Inox Air Products Co., Ltd. is a joint venture owned by the Jain family (former owner of industrial oxygen company) and air products and Chemicals Co., Ltd. (APD). All air products activities in India are conducted through the company.
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