INOXAP to set up cryogenic unit for ArcelorMittal
By IANS |
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Wed, Feb 10 2021 14:27 IST |
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NASA and industry have developed and tested numerous technologies to enable long-term cryogenic fluid management, which is essential for establishing a sustainable presence on the Moon and helping crewed missions to Mars. (Photo: NASA). Image Source: IANS News
Mumbai, Feb 10 : Industrial and Medical Gases major INOX Air Products will set up a cryogenic Air Separation Unit for ArcelorMittal Nippon Steel India at its Hazira Plant.
Accordingly, this air separation unit will supply oxygen and nitrogen gases required to meet the additional demand due to the phased brownfield expansion of AM/NS India s capacity from the current 7.2 to 8.6 MTPA.
ArcelorMittal Case: HC dismisses 2 Ruia Cos’ plea against ruling to deposit ₹82 cr
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In the case, the two firms, Essar House and Essar Services India, had received ₹35 crore and ₹47 crore, respectively, from Essar Steel as security deposit for office space and services.
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The December 10 order directed the Ruias to deposit ₹82 crore within eight weeks in the court as security in two separate arbitration suits filed by ArcelorMittal Nippon Steel India.
Mumbai: The Bombay High Court dismissed a plea filed by two Ruias-owned companies that challenged the single bench ruling asking them to deposit ₹82 crore in the court as security in two separate arbitration suits filed by ArcelorMittal Nippon Steel India (formerly Essar Steel).
Inox Air Products, one of India’s largest manufacturers of industrial and medical gases, has bagged a contract to set up the fifth cryogenic air separation unit (ASU) at the Hazira plant of ArcelorMittal Nippon Steel India, as it gears up for expansion. Inox Air Products (INOXAP) said that the installation of the fifth ASU at Hazira will give shape to India’s largest single operator onsite industrial gas complex on a build-own-operate (BOO) basis, which will support the first major expansion in India by ArcelorMittal after the acquisition of Essar Steel. ArcelorMittal had acquired Essar Steel jointly with Nippon Steel in December 2019 under India’s insolvency law and renamed it ArcelorMittal Nippon Steel India (AM/NS India).
ArcelorMittal Nippon Steel India (AM/NS India) has acquired a captive power plant of Essar Steel, Essar Power Orissa Limited (EPORL), under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (Sarfaesi) Act. The acquisition of EPORL was completed on Saturday. The move is yet another effort to make AM/NS India’s operations self-reliant. Last year, AM/NS acquired Bhander power plant, a natural gas-based thermal plant at Hazira, with an installed capacity of 500 Mw through a bidding process from Edelweiss Asset Reconstruction Company. All put, the total consideration for the two plants – Bhander and EPORL – is in the range of Rs 1,000 crore. AM/NS said that the acquisition resulted in a recovery of about 85 per cent for the lenders. EPORL was acquired from SBI and Edelweiss.