BRIEF

on Linde Plc (NASDAQ:LIN)

Linde Expands Industrial Gas Supply in India

Stock price chart of Linde Plc (EBR:LIN) showing fluctuations.

Linde plc has signed agreements to de-captivate two air separation units (ASUs) and broaden its supply of industrial gases to Tata Steel Limited in Odisha, India. This move aims to significantly increase its existing capacity at the Kalinganagar Industrial Complex, where Linde already operates two on-site plants.

The new ASUs, which are under construction, will be transferred to Linde in 2025. Additionally, Linde has secured a long-term agreement to supply oxygen, nitrogen, and argon to Tata Steel in support of its expansion efforts. Moreover, Linde plans to supply renewable energy to these plants, aligning with its 2035 emissions reduction target.

According to Moloy Banerjee, President ASEAN & South Asia at Linde, these agreements reinforce Linde’s role as a major supplier within the steel industry. The strategic initiative supports sustainable growth and increased network density in India’s growing industrial gas sector.

R. P.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Linde Plc news