 Online edition of India's National Newspaper Friday, Jun 03, 2011 ePaper | Mobile/PDA Version |
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Business
Making Rs.1,200 crore investment for setting up air separation units for Tata Steel, SAIL and Jindal Stainless KOLKATA: Industrial gases major BOC India, a part of the Linde group, is eyeing the petroleum and petrochemicals sectors for growth. Annual meeting “We are talking to all the oil companies for setting up air separation units (ASUs) for their need,” BOC India Managing Director S. Menon told reporters after the company's 75th annual meeting here on Thursday. He said the company was making investments of Rs.1,200 crore for setting up air separation units for Tata Steel, SAIL and Jindal Stainless. Two plants were getting ready for commissioning by late 2012, he said. Other areas With the steel sector contributing more than 50 per cent of the total business, the other areas targeted by BOC India were glass, pharmaceuticals, manufacturing industry and solar photovoltaic cells. He said the company was also in talks with JSW Bengal Steel for its proposed steel plant at Salboni, in West Bengal. Linde AG of Germany bought out BOC Group plc of the U.K., following which the Linde group's stakeholding in BOC India stood at 89.48 per cent. Dilution Company Secretary P. Marda said since regulation required Linde group either to delist or dilute up to 75 per cent in the company, it was probable that the parent company would opt for the second route. — PTI
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