DANBURY, Conn., September 25, 2007 — Praxair, Inc. (NYSE: PX) announced today that JSW Steel has selected Praxair India, the largest industrial gas producer in India, to meet its industrial gas needs for the expansion of its steel plant in Vijaynagar from 6.8 million tonnes (7.5 million tons) to 10 million tonnes (11 million tons) per year by 2010.
Praxair will build and operate a state-of-the art, 1,800-tonnes-per-day (1,984-tons-per-day) air separation plant equipped with advanced process controls and energy-efficient process cycles. Praxair will also install significant storage capacity for liquid oxygen, liquid nitrogen and liquid argon, primarily to meet JSW's requirements and in order to supply merchant liquids to the fast growing region of southern India.
"JSW is happy to select Praxair as its partner for meeting part of its industrial gases requirement for its expansion plans," said Mr. Sheshagiri Rao, Director – Finance, JSW.
"We are proud to have been selected by JSW for their new requirements and are committed to globally growing with and providing value to JSW," said John Panikar, Managing Director, Praxair India Pvt Ltd.
Jindal Praxair Oxygen Company Limited (JPOCL) currently supplies JSW's highly efficient Corex process. JPOCL is a joint venture between JSW Steel and Praxair, which operates two of the largest air separation plants in India with a combined oxygen capacity of 5,000 tonnes (5,511 tons) per day.
JSW Steel is the flagship company of the JSW Group — one of the fastest growing industrial companies in India, with extensive operations in the steel, power, cement, aluminum and infrastructure industries. The group reported revenues of U.S. $2.5 billion for the fiscal year ended March 31, 2007. JSW Steel is ranked No. 8 among the top 20 world-class steel producers and plans to grow its basic steel making capacity in India to 30 million tonnes (33 million tons) per year.
About Praxair India
Praxair India, headquartered in Bangalore, is the largest industrial gas producer in India, with more than 35 operating locations. More information about Praxair India is available on the Internet at www.praxair.com/india.
Praxair India's parent company, Praxair, Inc., is the largest industrial gases company in North and South America, and one of the largest worldwide with 2006 sales of US $8.3 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technology bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, electronics, energy, food and beverage, healthcare, manufacturing, metals and others. More information about Praxair is available on the Internet at www.praxair.com.
Susan Szita Gore