PARIS (dpa-AFX) - Air Liquide SA (AIQUY.PK), a French supplier of industrial gases, said on Thursday that it will invest close to 60 million euros to take over and operate an Air Separation Unit or ASU under a long-term contract with Wanhua Chemical Group, a supplier of chemical products in Yantai, China.
The French firm will also own and operate a new liquid argon production unit on this ASU built by Air Liquide Engineering and Construction to serve industrial merchant markets in Yantai and the wider province of Shandong.
As part of the deal, Air Liquide will provide nitrogen and oxygen to Wanhua.
Building on synergies around this ASU, to be operational at the end of 2024, Air Liquide will also serve nitrogen, oxygen, and argon to the local industrial merchant markets.
This tie-up will allow Air Liquide to start supply of industrial and medical gases in Yantai, the second largest industrial city in Shandong.
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