Praxair, Inc. (NYSE:PX) today announced the start-up of the first of two 1,250 metric tons per day air separation units at Steel Authority of India’s (SAIL) Bhilai, India facility. The plant will provide a reliable and energy efficient supply of gaseous oxygen, nitrogen and argon under a long term contract to support SAIL’s expansion activities. This is Praxair’s first large project in the state of Chhattisgarh and central India.
The facility will also produce liquid oxygen, nitrogen and argon to further support growing industrial and medical gases needs in the states of Chhattisgarh, Madhya Pradesh and parts of Maharashtra.
“Praxair has worked with Steel Authority of India since 2006, when we first signed our contract to supply industrial gases to their Durgapur facility,” said John Panikar, president, Praxair Asia. “We are proud to further strengthen our relationship with SAIL and we thank them for their confidence in us.”
“This plant will also expand Praxair’s merchant capabilities in central India and consolidate our presence in this growing market,” said Anuj Sharma, managing director of Praxair India. “Further, Praxair’s innovative applications technologies will help customers optimize costs and productivity, improve quality, as well as enable them to meet increasingly stringent environmental regulations.”About Praxair Praxair, Inc., a Fortune 250 company with 2013 sales of $12 billion, is the largest industrial gases company in North and South America and one of the largest worldwide. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and many others. More information about Praxair, Inc. is available at www.praxair.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV