Linde India shares up 2% on SAIL order for setting up oxygen plant

Linde India shares rose 2% in early trading August 25 after the company received a ‘letter of acceptance’ from the Steel Authority of India (SAIL) for the installation of a cryogenic oxygen plant.
At 09:36, Linde India traded at Rs 6,029.70, up Rs 113.30, or 1.92%, on BSE.
The 1,000 ton/day capacity plant will be installed on a build, operate and maintain (COM) basis for 20 years from the date of commissioning of the plant and ancillary facilities, with the possibility of an extension of 5 years. year by mutual agreement. based at SAIL’s Rourkela plant, the company said in a statement sent to the stock exchange. On August 22, the company received a letter of acceptance from Indian Oil Corporation Limited (IOCL) in the form of a contract of work to install the Air Separation Unit (ASU) at an IOCL authorized site within the Complex. Panipat refinery to produce and supply equipment air, plant air and frozen nitrogen for the IOCL Panipat Refinery Expansion Project (P25). Upon completion of construction and performance testing of the ASU, Linde India will enter into mandatory agreements with IOCL for the operation and maintenance of the facility for a period of 20 years from the date of first delivery. The company posted a net profit for the June quarter that fell 41.9% to Rs 99.88 crore.
Linde India manufactures and distributes oxygen, hydrogen, nitrogen, argon and other special gas mixtures. The company also manufactures welding electrodes, electrodes, fluxes, gas and electric welding equipment as well as liquid oxygen explosives.