Air Liquide has signed a joint venture contract with Chinese Tianjin Soda Plant, a subsidiary of the Tianjin Bohai Chemical Industry Group.
Under the terms of the contract, Air Liquide and Tianjin Soda will create a joint venture company in Tianjin, in which Air Liquide will hold 55 per cent and Tianjin Soda 45 per cent.
The joint venture company will install two large air separation units (ASUs) with oxygen capacity of 2,000 tons per day each, due for commissioning by the end of 2008, to supply Tianjin Soda and other customers in the Lingang Industry Park. Air Liquide will market the liquid oxygen, nitrogen and argon produced by the new ASUs. The initial JV investment will be in the range of €80m.
Jean-Pierre Duprieu, senior vice-president Asia-Pacific, said: We are very happy to set up this joint venture company with Tianjin Soda. It is another major step in Air Liquides commitment to develop in the fast growing Tianjin basin. We are proud of partnering with Tianjin Soda for its new project in Lingang and of reinforcing our position in this booming region.
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