Investment in line with Budget 2021’s vision of accelerating growth in core sectors of Manufacturing, Infrastructure and Healthcare Eight new Air Separation Units to come up from FY22 to FY24 Liquid Medical Oxygen production capacity to increase by 50%, providing a critical boost to medical infrastructure.
Supporting the nation’s revival journey through massive investments in core sectors like manufacturing and infrastructure as announced in Budget 2021, India’s largest manufacturer of Industrial & Medical Gases, INOX Air Products has laid out massive expansion plans of INR 2000 Croresto build eight new Air Separation Units across the country. This will be India’s largest Greenfield investment plan ever witnessed in the Industrial Gases sector. With a combined capacity to manufacture more than 1500 Tons Per Day (TPD) of Liquid Gases, the expansion will take INOX Air Product’s total liquid gases production to 4800 TPD by 2024. Inspired by the Prime Minister’s vision of Make In India, INOX Air Product’s new plants will strengthen and promote inclusive growth in the existing and upcoming industrial corridors across the country. Complementing the critical boost provided in budget 2021 to the healthcare sector, INOX Air Product’s expansion would also augment its Liquid Medical Oxygen (LMO) production capacity by 50%.
INOX Air Product’s new plants will be strategically located in the proximity of high-demand growth areas in the states of 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 will be commissioned from FY22 to FY24. 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 project will generate more than 1000 direct and indirect employment opportunities in their respective regions.
Speaking about the investments, Mr Siddharth Jain, Director - INOX Air Products said, “Intending to rejuvenate the country’s economic landscape, Budget 2021 pronounced major investments and initiatives around Manufacturing, Infrastructure, and Healthcare. As we welcome the enhanced CAPEX in these critical areas, we want to be prepared to serve the country’s future-oriented and accelerated growth drive by ensuring the capacity creation of industrial and medical gases across the corridors of the country. The expanded capacity will enable us to serve the core sectors, supporting the nation’s Aatmanirbhar Bharat endeavor and its march towards becoming a $5 Trillion economies. Our new ASUs are envisioned to empower numerous sectors and boost economic activities in key industrial regions. The investments will also help us maintain our leadership position in the market.”
INOX Air Products currently manufactures 3300TPD of liquid gases across 44 locations in the country. During COVID, INOX Air Products has been catering to more than 60% of the total medical oxygen demand in the country. All INOX Air Products units have been running 24x7 to ensure continuous production and an uninterrupted supply of medical oxygen to more than 800 hospitals nationwide through a dedicated fleet of 550 transport tanks. With a massive 50% growth in the production of LMO, INOX Air Products will continue to fulfill its responsibilities in the Medical & Healthcare space.