INOX Air Products (INOXAP) is planning to invest Rs 2,000 crore to build eight new air separation units across the country. This will be India’s largest greenfield investment plan in the industrial gases sector.

With a combined capacity to make more than 1,500 tpd of liquid gases, the expansion will take INOXAP’s total liquid gases production to 4,800 tpd by 2024. The investment will be funded by a mix of debt and internal cash accruals.

INOXAP’s new plants will be strategically located in proximity of high demand growth areas in Gujarat, Maharashtra, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and West Bengal.

The plants will produce liquid oxygen, liquid nitrogen and liquid argon and  commissioned during the course of FY22-24.

The bulk availability of industrial and medical gases will ensure constant supplies for the electronic manufacturing, pharmaceutical sector, besides helping iron, steel and automobile industries to ramp up their production capacities.

The projects will generate more than 1,000 direct and indirect employment opportunities in their respective regions. The eight plants would be set up on a sequential basis over the next 12 to 36 months. There is demand for the gases both as feedstock and raw material.

INOX AP currently manufactures 3,300 tpd of liquid gases across 44 locations in the country. INOX Air Products offers a portfolio of gases, equipment and services and has a vastly diverse client ecosystem including more than 1,800 small, medium and large manufacturing organisations.