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TheStreet Open House

Praxair India Expands Supply To JSW Steel

Stocks in this article: PX

Praxair India Private Limited, a subsidiary of Praxair, Inc., (NYSE: PX), has signed a long-term contract with its existing customer, JSW Steel Ltd., part of the O.P. Jindal Group. Praxair will expand the supply of gaseous oxygen, nitrogen and argon to JSW’s steel mill located in Tornagallu, Bellary, in the state of Karnataka. The supply contract will help the company, which is the largest private sector steel manufacturer in India in terms of installed capacity, to expand its steel production at Bellary from 10 to 12 million tons per year.

Praxair will build a new air separation plant with an oxygen production capacity of 1800 tons per day, in addition to the combined capacity of 6800 tons per day currently in operation at JSW Steel’s Bellary facility. The new plant will also supply 1600 tons per day of nitrogen and a significant quantity of argon to the customer. Additionally, the plant will add merchant liquid capacity to support growing local demand in Southern India in the steel, cement, chemical, textile, pharmaceutical and automotive markets.

“Praxair’s large, energy-efficient air separation units are continuing to deliver quality, reliability and operational efficiencies to meet the growing needs of our customers worldwide,” said Asit Gangopadhyay, managing director, Praxair India. “This new contract further demonstrates our ability to execute world-scale projects and our commitment to growth in India. We are proud to have been selected by JSW and look forward to many more years of success together.”

“Praxair and JSW Steel have had a strong relationship for over 15 years,” said Mr. Seshagiri Rao, joint managing director and group chief financial officer for JSW Steel. “We have chosen to extend our commercial relationship with Praxair to continue to benefit from their state-of-the-art technology, and safe, reliable and efficient gas supply.”

Praxair India

Praxair India, a wholly owned subsidiary of Praxair Inc., started operations in 1996 and is headquartered in Bangalore. Praxair has invested over Rs.2,500 Crores (US$565 million) in India to meet the country’s growing industry requirements and has evolved into India’s largest industrial and medical gases supplier serving varied industry segments including steel, refineries, petrochemicals, glass, automobile, shipbuilding and healthcare. Praxair India has 35 locations across the country employing more than 600 people.

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