The Linde Group and refining and chemical company SINOPEC have signed a €145m ($162m) joint venture to strengthen air gases supply in China’s Ningbo Chemical Industrial Zone.
Both Linde and SINOPEC Zhenhai Refining & Chemical Company (ZRCC) will each hold a 50% stake in the newly-formed partnership under the name Ningbo Linde-ZRCC Gases Company Ltd (Linde-ZRCC).
The long-term collaboration will see Linde-ZRCC acquire two existing air separation units (ASUs) from ZRCC and construct a third, providing a combined 150,000 m3 per hour of oxygen capacity.
These three additional ASUs will double Linde’s production capacity of air gases in the Ningbo cluster. All three will be connected to Linde’s pipeline supply network in the eastern Chinese region.
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