SEATTLE (Scrap Monster): Tata Steel has entered into an agreement with INOX Air Products towards setting up of two air separation units (ASUs) at its Dhenkanal Steel Plant in Odisha.
Under the agreement, INOX will invest INR 1,300 crore to set up Two ASUs, each having a capacity of 1,800 tonnes a day. This is the single largest greenfield investment by INOX and will support the steelmaker’s ongoing efforts to boost its capacity. The units will separate industrial gases like oxygen, nitrogen and argon from the air and supply it to the steel plant, to be used in the steelmaking process.
ALSO READ:
Tata Steel Identified Opportunities to Actualise Capacity Expansion Plans
Tata Steel: European Steel Consumption to Return to Positive Levels from 2024
The agreement is for a period of 20 years. The plant will be set up on the land provided by the steelmaker. The project is expected to be commissioned in March 2025, after which the company’s daily capacity of manufacturing industrial gases will see a big boost, touching 5200 tonnes per day (TPD) mark.
The deal aims to ensure reliable delivery of high-quality industrial gases by Inox in support of Tata Steel’s ambitious growth plans.
Commenting on the development, Siddharth Jain, Managing Director, Tata Steel said that it would strengthen the company’s market leadership in addition to augmenting its presence in Eastern India.
Copper Scrap View All | |
Alternator | 0.38 (0) |
#1 Copper Bare Bright | 3.89 (-0.06) |
Aluminum Scrap View All | |
356 Aluminum Wheels (Clean) | 0.75 (-0.02) |
6061 Extrusions | 0.65 (-0.02) |
Steel Scrap View All | |
#1 Bundle | 370.00 (0) |
#1 Busheling | 390.00 (0) |
Electronics Scrap View All |