Linde India has entered into a plant sale agreement with Tata Steel to buy two 1,800 tpd (tonnes per day) air separation units (ASUs) from the manufacturer’s Kalinganagar Phase 2 expansion project.
In a stock exchange filing, Linde said, “…please be informed that the company has entered into the Plant Sale Agreement with Tata Steel Limited for acquiring their industrial gas supply assets – 2×1800 tpd ASUs at their Kalinganagar Phase 2 expansion project.”
The acquisition saw shares of Linde India surge as much as 6.09% to hit an intraday high of Rs 7,641.60 (US$90.72) per share today (September 5th).
This follows Tata Steel’s September 2023 announcement of Linde India as the winning bidder to own, operate and maintain the gas-supply infrastructure at Tata Steel’s Kalinganagar plant. Under this agreement, Linde India will manage the supply of industrial gases to the steel plant for a period of 20 years.
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