The Linde Group and SINOPEC Qilu to form industrial gases joint venture in Shandong, China
The technology group The Linde Group and refining and chemical company SINOPEC Qilu Company have signed an agreement to form a 50/50 joint venture as well as a long term industrial gases supply contract.
The joint venture, named Zibo BOC Qilu Gases Co., Ltd., has a total investment of approximately 64 million USD. Additionally to SINOPEC Qilu's two existing air separation units, which will become property of the new joint venture, a new air separator with a capacity of 1,500 tonnes of oxygen per day will be erected at Zibo, Shandong Province (PRC), until March 2008. Ultimately, the joint venture with a staff off around 180 will supply SINOPEC Qilu, other companies in the Zibo area, and third party markets with a total of more than 4,000 tonnes of oxygen, nitrogen and argon per day.
"This joint venture will reinforce the strategic partnership between The Linde Group and SINOPEC. Zibo BOC Qilu Gases will be the leading supplier of industrial gases in the region, and improve our capability to serve one of our core customers with optimal solutions", said Trevor Burt, member of the Executive Board of Linde AG and responsible for the Asia/Pacific region.
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