INOX Air Products to Invest INR 2000 Cr in Industrial Gases
INOX Air Products (INOX AP), manufacturer of Industrial & Medical Gases has laid out massive expansion plans of INR 2000 Crores to build 8 new Air Separation Units (ASUs) across the country by 2024. This will be India’s largest Greenfield investment made in the Industrial Gases sector.
INOX AP Liquid Gases Manufacturing Capacity and Expansion Strategy
INOX AP currently manufactures 3,300 TPD of liquid gases across 45 locations in the country. The current expansion with a combined capacity to manufacture more than 1,500 Tons Per Day (TPD) of Liquid Gases will take INOX AP’s total liquid gases production to 4,800 TPD by 2024.
Also, sensing the increasing demand in the healthcare sector, the company is targeting to augment its Liquid Medical Oxygen (LMO) production capacity by 50% through this expansion.
Speaking about the investments, Mr. Siddharth Jain, Director – INOX Air Products said “With an objective of rejuvenating the Country’s economic landscape, Budget 2021 pronounced major investments and initiatives around Manufacturing, Infrastructure and Healthcare. Our new ASUs are envisioned to empower numerous sectors and boost economic activities in key industrial regions. The investments will also help us maintain our leadership position in the market“.
INOX AP’s New Planned Industrial Gas Plants
INOXAP’s said the new plants will be strategically located in proximity of high growth areas in the states of Gujarat, Maharashtra, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and West Bengal. The plants will produce liquid oxygen, liquid nitrogen and liquid argon and will be commissioned during the course of FY22 to FY24.
Major sectors that INOX AP is targeting are electronic manufacturing, pharmaceutical sector, Iron, Steel, automobile etc. to ramp up their production capacities. The projects are expected to generate more than 1,000 direct and indirect employment opportunities in their respective regions.
INOX AP’s Supplies during COVID
According to the company since the outbreak of COVID, INOX Air Products has been catering to more than 60% of the total Medical Oxygen demand in the country. The company is running all its units 24×7 to ensure continuous production and supply of Medical Oxygen to more than 800 hospitals nationwide through 550 transport tanks.
About INOX Air Products: Incorporated in 1963, INOX Air Products Pvt. Ltd. (INOXAP) is a 50:50 joint venture company between INOX Group of India and Air Products Inc., USA, with its Head Office in Mumbai. It is one of the largest manufacturers of Medical and Industrial Gases in India with 45 plants spread throughout the country. The company has a workforce of approximately 1,200 and a turnover of more than INR 1,800 Crore (USD 250 million).