1 October 1998: Praxair India, a wholly owned subsidiary of the US$ 4.7 billion Praxair Inc., plans to set up a US$ 17-million manufacturing facility at Sriperumpudur in Chennai for producing hydrogen…
1 October 1998: Praxair India, a wholly owned subsidiary of the US$ 4.7 billion Praxair Inc., plans to set up a US$ 17-million manufacturing facility at Sriperumpudur in Chennai for producing hydrogen gas. The plant is expected to become operational in November 1999. Praxair currently sources its requirement of hydrogen from Spic Fine Chemicals and Chemplast at Mettur. James F. Fuchs, vice-president of Praxair Inc. (Asia Pacific), said Praxair India plans to invest US$ 200 million in India in the next two years, as part of its “strategic growth path“ for building grassroot manufacturing facilities. The firm had invested US$ 120 million in the country in the last two years for acquiring and setting up manufacturing facilities to produce various industry gases. The company had marked an investment of over US$ 300 million for India. Praxair India has manufacturing facilities at Calcutta, Mumbai, Bangalore and Delhi. The company is building air separation plants for Jindal, Swil in Gujarat, SJK Steel in Andhra Pradesh and Haldia Petrochemicals in West Bengal. Other ventures are also expected to come up with Sundaram Clayton, Tata Timken, etc., for setting up air separation units. The company also plans to supply helium to ONGC for Indo Gulf Fertilizers. Praxair recently entered into an agreement with Saint-Gobain Glass India to install an air separation plant for the supply of nitrogen and hydrogen to Saint-Gobain“s float glass unit in Chennai. The company has also acquired a 60% stake in a new, Bangalore-based joint venture company Chemicon. The acquisition will enable the company to manufacture and supply carbon dioxide in India. As part of the agreement, the new company, Praxair Carbon Dioxide Pvt Ltd., will operate carbon dioxide facilities at Kanpur, Mangalore, Visakhapatnam and Kalol in Gujarat.