After the recent installation of a 50tpd oxygen plant for SAIL (Steel Authority of India Limited), MSPL Gases makes plans to invest Rs 400m in Andhra Pradesh and Tamil Nadu, India
The Rs 450m ($9,96m) Indian company intends to double investments next year. The company is planning to invest between Rs 350m ($7,75m) and Rs 400m ($8,85m), depending on the requirements of the steel plants in Andhra Pradesh and Tamil Nadu.
At present, the installed capacity of MSPL Gases is 100 tonnes (oxygen, nitrogen and argon gases). Currently, 85 per cent of the gas produced is consumed by industries with the remaining by hospitals.
MSPL Ltd executive director, Shrenik N Baldota, told the business standard newspaper that MSPL is the only firm that provides Indian technology for gas plants.