Air Liquide: E60m investment in China

(CercleFinance.com) - Air Liquide announced on Thursday that it will invest nearly 60 million euros to acquire and operate an air separation unit (ASU) as part of a long-term contract with Chinese chemical group Wanhua.


The industrial gases specialist says it also plans to build, own and operate a new liquid argon production unit at the new site, based in the Chinese city of Yantai.

The group explains that the project, which is due to be operational by the end of the year, will enable it to supply large quantities of nitrogen and oxygen to Wanhua.

This long-term contract, the first signed with Wanhua, will focus on the supply of industrial and medical gases, it adds.

Air Liquide says that the agreement will also enable it to further strengthen its already strong presence in Shandong province, China's third-largest provincial economy.

The company already operates four ASUs, a hydrogen production unit, a filling center, as well as a state-of-the-art manufacturing center that produces ASUs and hydrogen production units.


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