Linde India bags LoA for IOCL for setting up ASU in Panipat

24 Aug 2023 , 09:53 AM

Linde has announced that it has received a Letter of Acceptance (LoA) from Indian Oil Corporation Ltd (IOCL) for the establishment of an Air Separation Unit (ASU) in Panipat.

According to an exchange filing, the LoA is for the establishment of an Air Separation Unit (ASU) on a site licensed by IOCL within its Panipat Refinery Complex for the production of Instrument Air, Cryogenic Nitrogen, and Plant Air, and its subsequent supply to the IOCL Panipat Refinery Expansion Project (P25).

The capital expenditure will be funded by the company’s own funds/internal accruals. Linde India will enter into necessary agreements with IOCL to operate and maintain the facility for a period of 20 years following the completion of construction and ASU performance testing.

Linde India is one of the world’s largest industrial gas and engineering companies. With over 75 years of experience, it principally constructs cryogenic and non-cryogenic air separation plants. Its product line includes industrial, medical, compressed, and special gases.

Linde India also received approval for an investment in a new ASU in Ludhiana, Punjab, for growth into the underserved secondary steel, met fab, and pharma markets, which is planned to be commercialized in FY 2023, according to its annual report.

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