Industrial gas company Praxair India will spend $24m on cryogenic air separation units for production of liquid oxygen and nitrogen across the state of Karnataka.
The company signed a memorandum of understanding with the Karnataka State Government this week, with investment set to begin in the current financial year.
According to Minister MB Patel, the government will provide priority support, including land allocation, single-window clearances, and infrastructure facilitation throughout the development process – which is expected to last around three years.
Karnataka is a rapidly growing industrial hub and its appetite for industrial gases reflects that. The state is home to JSW Steel’s Vijayanagar plant which has a capacity of over 28 million tonnes per year and is still expanding.
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