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Linde group bets big on India

KOLKATA: The Linde group, which holds majority equity in BOC India, sees India as a major market and one which will be least impacted by the current global economic uncertainty. Linde group is bidding for opportunities for BOC and is looking at organic and inorganic growth, according to S. Lamba, head of Linde’s South-east Asian group which cuts across 10 countries from Korea to Pakistan.

Srikumar Menon, who was appointed BOC’s Managing Director, on Thursday, said that “the numbers were stacking up well for the company but it could not rule out being impacted in case any of its major customers in, say, the steel sector, announced cutbacks in its green or brownfield investment plan. There has been no such announcement as yet.” Industrial gases and projects engineering are two of BOC’s major activity areas.

Mr. Menon said that Linde invested around Rs. 600 crore less than a year ago and about Rs. 200 crore would be utilised for “tapping opportunities.” It has zeroed in on tapping the markets for gases for electronic units and solar photovoltaic cells as two of its new focus areas and has begun discussions with Reliance Industries. BOC’s net profit from operations for the nine month period ending September 30, 2008, increased by 169 per cent over the same period in 2007.

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