With effect from July 28, Air Water has announced to transfer to the partner all the shares in possession of Ellenbarrie of Indian local industrial gas company and canceled the joint venture agreement.

From now on Air Water will go ahead with its business strategy cored by a large-scaled on-site gas supply in the country.

Ellenbarrie has three liquefaction plants based on Kolkata of Eastern India and is engaging in supplying industrial and medical oxygen by tank trucks and cylinders. In 2013 Air Water affiliated it acquiring 51% shares. Then, Air Water acquired the industrial gas business of Linde and former Praxair including on-site business for steelmakers in 2019, and established the position of industrial gas manufacturer in the country. It has developed an integrated gas supply system including the air-separated liquid gases produced together from a large-scaled on-site plant and also cylinder gas business. The business operation in the country is carried out by its fully-owned affiliate Air Water India.

In India the government has posted a policy to expand the domestic production of crude steel to 0.3 billion tons by 2030which is a triple larger than now. A new construction plan of blast furnaces has also been taken up for discussion.

Based on such a background Air Water has decided the developmental dissolution of the venture with Ellenbarrie, so that it can promote with quicker decision-making its business strategies including a large-scaled investment.

The company shows the stance saying, “Foreseeing the growth of the Indian industrial gas market, we are going to expand our on-site gas supply business for steelmakers and others based upon the gas plant technologies fostered in Japan. Though Air Water India has established business bases in Eastern and Southern India, we plan to expand the business keeping an eye on the Northern and Western Areas.”