BOC India to invest Rs 600 cr in new unit

Written by fe Bureaus | Kolkata | Updated: Oct 28 2009, 06:38am hrs
BOC India Ltd, a part of the Linde Group of Germany , will invest around Rs 600 crore for a new air separation unit (ASU) at Tata Steels plant in Jamshedpur . The Linde Groups investment in India will touch Rs 2,000 crore.

Once the ASU is commissioned in early 2012, the facility will be the largest of its kind in the country with a capacity of 2,550 tonne per day (tpd), the company said in a press statement.

The company has already inked a deal with the Tata Steel for the supply of over 4,000 tpd of gaseous oxygen, nitrogen and argon.

On Tuesday, the company posted a net profit of Rs 12.5 crore for the quarter ending September 30, 2009 against Rs 21 crore for the corresponding period last year.

According to a company spokesperson, the profit before interest and exceptional items is Rs 29.63 crore for the quarter against Rs 12.90 crore for the corresponding period last year. The profit after interest but before exceptional items during the quarter is actually Rs 30.31 crore. It includes no interest income due to full utilisation of the preferential issue proceeds of Rs 597.30 crore, the spokesperson said.

BOC India reported net sales of Rs 214.49 crores for the third quarter, an increase of 61% over the same period last year. Its Gases business recorded an overall growth of 28% over the corresponding quarter in 2008.