Linde India bags 'Letter of Acceptance' for cryogenic oxygen plant from SAIL

On August 25, Linde India stated that the Steel Authority of India (SAIL) has granted it a "Letter of Acceptance" for the installation of a cryogenic oxygen plant.

The 1,000 tonnes per day plant will be installed at the SAIL plant in Rourkela on a construct, operate, and maintain (COM) basis for 20 years from the date of commissioning of the plant and ancillary facilities, with the possibility of renewal for an additional 5 years on a mutually agreeable basis, the company said in a release to the exchanges.

Since its Covid-19 low of Rs 378 on March 24, 2020, the stock has surged 16 times.

Linde India manufactures and distributes oxygen, hydrogen, nitrogen, argon and other specialty gas mixtures. It also manufactures welding electrodes, rods, fluxes, gas and electric welding equipment along with liquid oxygen explosives.

This is to be considered in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Source: Media Reports