Inox Air Products’ managing director Siddharth Jain said that the company will spend Rs 1,300 crore to build two air separation units at the Tata Steel factory in Dhenkanal, Odisha, with a capacity of 1,800 tonnes per day each.
According to a corporate executive who spoke with PTI, the plant is being built as part of a collaboration with the large steel producer to deliver industrial gases like oxygen, nitrogen, and argon that are necessary for the steel-making process.
The air separation units (ASUs) will assist Tata Steel’s ongoing growth of its steel capacity and represent the single-largest greenfield investment ever made by INOX Air Products.
The units will separate these gases from the air and supply it to the steel plant, Jain said, adding that the project is expected to be commissioned by March, 2025.
When asked about the details of the partnership, he said his company has signed an agreement with Tata Steel for 20 years to supply oxygen, nitrogen and argon, and Rs 1,300 crore will be invested to set up the plant on land provided by Tata Steel at its Meramandali plant in Dhenkanal.
