Air Products' India Joint Venture Investing in Two New Merchant Gases Plants and Signs Another Long-Term Supply Agreement with Posco, India
Air Products (NYSE: APD) today announced that INOX Air Products Ltd., its joint venture in India, will invest over $50 million (Rs 250 crores) to construct two new air separation units for the growing merchant industrial gas markets in West and South India.
The company also announced INOX Air Products' signing of a new long-term industrial gas supply contract with Posco Maharashtra Steel Private Limited for hydrogen and nitrogen for PMSPL's Phase 2 facility expansion in Maharashtra. The INOX Air Products facilities are all scheduled to come on stream between late 2012 and early 2013.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.