Air Products, the North American industrial gas entity with presence across the globe has announced a plan for two new significant investments in Russia. The proposals compliment the firm’s existing investment impetus towards growth regions.
“We are continually looking for opportunities that allow us to strengthen our position in growth regions,” commented Robert Mills, General Manager at Russia and Commonwealth of Independent States (CIS) at Air Products.
“Air Products is interested in viable commercial opportunities across Russia, including the Rostov region, as we firmly believe this geography has long-term growth potential,” added the General Manager.
Air Products has demonstrated itself to be a reliable partner and shown a clear commitment to the Rostov region.
Vasily Golubev, the Governor of Rostov Oblast
Air Products will construct and operate a 200tpd oxygen, nitrogen and argon liquefier in addition to a cylinder gases depot in Krasny Sulin – an established manufacturing locale in the Rostov region.
The combined investment is worth over €25m and both facilities are expected to be on-stream in early 2014. Mills added, “The liquefier and depot will allow us to supply both liquid and packaged gases to the merchant market and support our onsite customers.”
The new Air Products’ liquefier and cylinder gases depot will allow the Company to supply liquid and packaged gases to the metal, glass, food, chemical and refining industries in the Rostov and surrounding regions.
Air Products’ investments in the liquefier and packaged gases depot are to be implemented under the framework of the Memorandum of Collaboration (MoC) signed with the Administration of the Rostov region in Russia in October 2010. The MoC provides a cooperative and constructive basis for both parties to work together and develop collaborative activities.
“We are pleased that the Rostov regional administration recognises the need for industrial gases to support manufacturing and economic growth in the region. This is where Air Products – as an integrated gas supplier – can utilise our core technology and product strengths from other geographies to help develop the region’s industrial gas market and meet the growing demand,” said Mills.
Vasily Golubev, the Governor of Rostov Oblast, confirmed local support for the project: “Air Products has demonstrated itself to be a reliable partner and shown a clear commitment to the Rostov region. By signing the Memorandum - under which the company is implementing their investments - sends a significant message to other investors: Rostov Oblast welcomes large projects that can benefit from the huge potential possessed by the Don territories.”