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 greenfield investment plan in the industrial gases sector, said a company release.
With a combined capacity to manufacture more than 1,500 tonnes per day (tpd) of liquid gases, the expansion will take Inox AP’s total liquid gases production to 4,800 tpd by 2024, said Siddharth Jain, Director.
The expansion will also augment its liquid medical oxygen production capacity by 50 per cent. Its new plants will be located in the proximity of high demand growth areas, in Gujarat, Maharashtra, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and West Bengal, said the release.
The plants will produce liquid oxygen, liquid nitrogen and liquid argon and will be commissioned over FY22 to FY24. The bulk availability of industrial and medical gases will ensure constant supplies for the electronic manufacturing, pharmaceutical sector, besides helping iron, steel and automobile industries to ramp up their production capacities, the company said. The projects will generate more than 1,000 direct and indirect jobs in their respective regions.
“The expanded capacity will enable us to serve the core sectors, supporting the nation’s Aatmanirbhar Bharat endeavour and its march towards becoming a $5 trillion economy. Our new ASUs are envisioned to empower numerous sectors and boost economic activities in key industrial regions. The investments will also help us maintain our leadership position in the market,” Jain said.
Inox AP currently manufactures 3,300 tpd of liquid gases across 44 locations in the country. Amid the Covid pandemic, it has been catering to more than 60 per cent of the total medical oxygen demand in the country, said the release. All Inox AP units have been running 24x7 to ensure continuous production and uninterrupted supply of medical xygen to more than 800 hospitals nationwide through a dedicated fleet of 550 transport tanks, it added.
In 1999, Air Products & Chemicals Inc, USA, acquired a 50 per cent stake in the company.
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