BOC India is looking to expand its business with major steel companies and also diversify into new sectors.
The industrial gas producer is looking at long-term dedicated gas supply contracts with big players in the steel industry such as Steel Authority of India, Tata Steel, the Ispat group, the Jindal group, Mittal Steel and Posco who have all decided to go ahead with big expansion plans.
Iron ore-rich states, such as Jharkhand, Chhattisgarh and Orissa, are the hot-spots for new steel plants.
At BOC's annual general meeting in Calcutta, ER Raj Narayanan, BOC managing director, said: \\$quot;The massive expansion programmes announced by different steel companies would generate a substantial gas business for us.\\$quot;
\\$quot;We will pitch for their gas projects as and when there is an opportunity.\\$quot;
It is anticipated new facilities with a total of 40-million tonne steel producing capacity will come up in the next four to five years.
Chemicals and petrochemical sectors are also witnessing new capacity additions in the country, which BOC hopes to be involved in.
\\$quot;We are trying to develop business models for industries like downstream oil and gas and chemicals to become the leading industrial gas producer in the country going forward,\\$quot; said Mr Narayanan.
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