By Rob Cockerill2008-08-11T15:38:00+01:00
Reports are suggesting that The Linde Group, as one of the world’s leading industrial gas companies, plans to spend around $180m on building gas plants in South Korea as the gases climate in the country continues to blossom.
Both Bloomberg and Reuters reported that South Korea’s Ministry of Knowledge Economy revealed the plans in an e-mailed statement in early August.
The ministry is also believed to have noted that South Korea’s industrial gas market grew to 1 trillion won last year and has been expanding at a double-digit growth rate, while in the same day Seoul’s Vice-Energy minister Lee Jae-hoon was thought to be signing a memorandum of understanding (MOU) with Aldo Belloni, member of Linde’s executive board.
Linde recently declared healthy sales growth for the first six months of 2008 and reaffirmed its positive forecast for the year ahead, noting that in the Asia & Eastern Europe operating segment the group’s Gases Division achieved an increase in sales on a comparable basis of 10.4% to reach €945m.
Encouraging performances have been reported across the Chinese industrial gas and equipment community, with the recent fiscal releases of various companies.
When we profiled the North Pacific industrial gases business last year, we noted how in 2018 the region had for the first time in history eclipsed the size of the European market to become the second-largest industrial gas market in the world, at a value of almost $20bn.
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