Air Liquide and Severstal, Russia’s second largest steel company, have launched the world’s biggest air separation unit in the steel industry in a €100m project.
Russian metal giant Severstal has teamed up with the French industrial gases firm to build the world’s biggest oxygen production unit, located in Cherepovetz in the Volagda region of Russia.
Air Liquide intends to increase its investment in Russia, with up to 15 projects thought to be underway as part of its search for new partners in the country. While the gases supplied by the unit will help Severstal improve its energy efficiency, it will also help expand Air Liquide’s business in Eastern Europe.
Aleksay Shuvalov, head of Air Liquide Severstal JV, commented, “The budget for this project was about €100m and as already mentioned, we did not exceed that budget. Severstal has a 25 percent stake in the project, while Air Liquide controls the rest.”
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