Air Liquide has revealed details of two further investments in the South East Asian market, declaring an outlay of €45m in a facility in India and a further €30m investment in a new ASU in Malaysia.
The oil, gas and petrochemical sectors are fast growing markets in India and South East Asia, with Air Liquide clearly keen to make its presence felt in the rapidly expanding region.
India’s $70bn petrochemical market, poised to grow at over 10% per annum, is one of the fastest growing petrochemical markets in the world. Indian Oil Corporation Ltd. (IndianOil) is building a world-scale Naphtha Cracker complex adjacent to its existing 12 mmpta (million metric tonnes per annum) refinery, at Panipat, near Delhi in North India.
Outsourcing oxygen needs
IndianOil has decided to outsource its oxygen and nitrogen gas requirements through a long-term contract with Air Liquide.
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