BOC India to invest Rs 540 cr on new plants in Odisha

Moneycontrol Bureau

BOC India plans to invest Rs 540 crore to construct two new air separation plants, each with a capacity of 1,200 tonne per day to supply gaseous oxygen, nitrogen and argon to meet production requirements of Tata Steel's new steel works. Tata Steel is progressing with the first phase of its greenfield integrated steel works in Odisha's Kalinganagar Industrial Complex, which come on-stream in 2014. It has awarded BOC a long-term industrial gases supply contract. BOC's new air separation plants, which will be commissioned in 2014, will also produce liquid products to meet the growing demand for gases in the merchant market, it said. HM Nerurkar, Tata Steel's MD said, its new 3 million tonne per year steel works, which will expand to 12 MTPY in the medium term, will be the first new major greenfield blast furnace based steel works built in India in the last 15 years. BOC India shares ended up 2.3% at Rs 399.95 on NSE on Monday.