Germany’s Linde Group is reportedly ready to invest around €1bn in BOC India Ltd over a 7-10 year period, according to an article by the Reuters news agency.
Sanjiv Lamba, Managing Director of South & East Asia, Linde Gas Asia Pte Ltd, is quoted as having said, “Major part of the investments will go to gas plants in steel units. We feel good growth coming from oil, pharma and renewable energy sectors.”
Linde had previously announced in December that it would infuse Rs 598 crore into its subsidiary to meet the bulk of the latter’s fund requirement for ongoing projects by 2008. In the process, the company would also consolidate its shareholding in BOC India to about 74% from the present 54.80%.
BOC India won an order last year to supply gases to JSW Steel for its expansion programme at Bellary, and another deal from SAIL amounting to Rs 318 crore for the set-up of two air separation units at Rourkela Steel Plant and IISCo Steel Plant, among others.