Only a year after acquiring a major stake in the company last summer, Air Products has announced that its South American joint venture Indura is to build a new plant in Antofagasta, Chile.
The new plant in Antofagasta will produce oxygen, nitrogen and argon, while it was also revealed that Indura will be expanding the capacity of its Graneros plant, south of Santiago.
Both projects will mean an investment of more than $15 million.
The new developments follow the opening of a new plant in Puerto Varas, Chile, in October 2012, to support local industries, including the growing aquaculture market. They also come after Air Products announced the purchase of a 67 percent majority stake in Indura last summer, at a value of $884 million.
The new investments in Antofagasta and Graneros will meet the increasing demand for industrial gases in the northern and central regions of Chile, driven largely by the mining, metal fabrication and food industries.
Mike Olivares, vice-president and general manager, Latin America for Air Products, explained, “With this new plant in Antofagasta and expansion in Graneros, we are investing in the right places to serve the industries that continue to grow and depend on the safe and reliable supply of our products for their processes.”