The Indian promoters of Ellenbarrie Industrial Gases, an integrated industrial and medical gases company, have re-acquired a 51% stake from Japanese gas giant Air Water.
This purchase sees Ellenbarrie become India’s largest indigenous industrial and medical gas company. It also comes after the 2013 sale of a 51% stake to Air Water and marks the exit of Air Water from Ellenbarrie.
Commenting on the agreement, Varun Agarwal, Executive Director, Ellenbarrie, said, “Ellenbarrie Industrial Gases Ltd is now the largest 100% Indian-owned industrial and medical gas company, in a space dominated by multinational companies.”
“With the onset of Covid-19, we have quickly repositioned ourselves not only in terms of enhancing capabilities in terms of medical oxygen, but also providing solutions in terms of centralised gas pipeline systems and hospital equipment critical to Covid treatment.”
The news coincides with the company announcing the commencement of work on a plant at Kurnool in Andhra Pradesh. The plant, set for completion in 2022, will have a production capacity of 600 million tonnes per day.
In addition, Ellenbarrie has added a high-purity hydrogen plant at Uluberia, near Kolkata, West Bengal.