02 July 2013 23:53 [Source: ICIS news]
HOUSTON (ICIS)--US-based Praxair has entered into a definitive agreement to form a joint venture with Russia’s KuibyshevAzot to produce and sell industrial gases, Praxair announced on Tuesday.
The joint venture will produce on-site oxygen, nitrogen and compressed dry air for the production of caprolactam, fertilizer and ammonia at KuibyshevAzot’s facility in the Samara region, as well as liquid oxygen, nitrogen and argon for sale to customers in the Volga region, Praxair said in a news release.
The joint venture will own and operate KuibyshevAzot’s existing air separation unit, which produces 2,000 tons/day of oxygen, nitrogen and argon.
The merchant liquid supply will support the surrounding industrial region, including energy, automotive and other manufacturing customers, Praxair said.
“Our modernisation and investment programme with KuibyshevAzot will bring significant energy efficiency and cost savings to the company, while increasing the supply of liquefied industrial gases to the growing demand from smaller regional customers,” said Todd Skare, president of Praxair Europe.
Follow Tracy on Twitter
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections