France based Air Liquide is planning to invest INR 10,000 crore to 12,000 crore in the country through its India arm Air Liquide India over the next 10 years.

Mr Philippe Roujon MD of AL India said that India is the main place for us to increase our business. The company had lined up major investment plans as steel plants, petrochemical units and refineries which were the major customers of industrial gases were expanding their capacities. This apart new ones are also coming up.

Mr Roujon said that the company produces oxygen, nitrogen, hydrogen, helium and other rare gases. Its India arm began operations in 1992. From next year onwards every year we will invest INR 1,000 crore to INR 1,200 crore in the country over the next 10 years.

He said that AL India registered a turnover of INR 600 crore in 2009 and is targeting INR 900 crore in the current calendar year. The company is investing INR 420 in the Visakhapatnam Steel Plant for setting up an 1,800 tonne per day capacity air separation unit to produce different gases which can be used in liquid steel making. VSP has signed a long term agreement with AL India to purchase these gases for 18 years.

(Sourced from Arabian Business)