New Delhi: INOX Air Products, a Mumbai-based company, has announced plans to invest Rs 1,300 crore in setting up two air separation units (ASUs) at Tata Steel’s plant in Dhenkanal, Odisha. These ASUs will have a capacity of 1,800 tonnes per day each and will supply industrial gases such as oxygen, nitrogen, and argon, which are essential for the steel-making process. This investment marks the largest greenfield investment ever made by INOX Air Products and will support Tata Steel’s ongoing expansion plans.
The air separation units will extract these gases from the air and provide them to the steel plant. Siddharth Jain, the Managing Director of INOX Air Products, stated that the project is expected to be commissioned by March 2025. Jain further revealed that his company had signed a 20-year agreement with Tata Steel to supply oxygen, nitrogen, and argon. The investment will be utilized to establish the plant on the land provided by Tata Steel at its Meramandali plant in Dhenkanal.
This partnership with Tata Steel marks INOX Air Products’ first-ever onsite collaboration with the steel giant. The company’s largest-ever greenfield investment will result in the facility with the highest liquid gas manufacturing capacity at a single location. This development will strengthen INOX Air Products’ market leadership and expand its presence in Eastern India. Jain expressed confidence in the company’s ability to contribute to India’s industrial progress while ensuring sustainable growth.
Tata Steel also expressed enthusiasm about the collaboration. Avneesh Gupta, Vice President of TQM and Engineering & Projects at Tata Steel Ltd, stated that they are looking forward to leveraging INOX Air Products’ expertise in delivering high-quality industrial gases reliably. He believes that the partnership will play a crucial role in supporting Tata Steel’s growth ambitions and contribute to its ongoing success story in the steel industry.
Once the project is commissioned, INOX Air Products’ daily capacity for manufacturing industrial gases will reach an impressive 5,200 tonnes per day. The company is already the largest manufacturer of industrial and medical gases in India, with a current manufacturing capacity of 3,400 tonnes per day delivered from 47 operating locations.
This significant investment by INOX Air Products highlights the importance of industrial gases in the steel-making process and their commitment to supporting Tata Steel’s expansion plans. It also demonstrates their dedication to sustainable growth and their position as a leader in the Indian market for industrial and medical gases. With the expertise and experience of both companies, this partnership has the potential to make a substantial impact on the steel industry in India.
